Don't wait 'till it's too late: review your PPSR registrations now
On 30 January 2019, the Personal Property Securities Register (PPSR) will be seven years old.
This is an important date, as seven-year registrations will soon start to expire. And once a registration lapses, it cannot be extended—only current registrations can be amended or renewed.
I want to thank all stakeholders who have already taken the time to review and update existing registrations. This helps to ensure that your interests are protected and keeps the Register up to date and accurate - something we all have a shared interest in.
I thought you might be interested to know that in recent times we've seen a 200 per cent increase in people accessing the free ‘registrations due to expire’ report, which is great. I am sure this can be attributed to the efforts of those stakeholders who have helped to raise awareness of the anniversary—thank you.
But we don’t want anyone to be caught out.
I strongly encourage anyone who hasn’t yet reviewed their registrations, to do so before 30 January 2019.
Reviewing your registrations is quick and easy to do:
- Simply log into the PPSR and request a free ‘registrations due to expire’ report. This will list all the registrations for your secured party group, that are due to expire in a specific date range. (Go to https://www.ppsr.gov.au/registrations-due-expire-report for more details.)
- Review all the details in the registration; make sure you’ve got the right ACN or ABN, company name and current address for your client. Check that your details are correct, including the way you describe your goods. If you need to extend your registration, choose a new expiry date.
Act now and ensure your registrations continue to provide ongoing protection. And make it a habit to regularly review them.
If you’re acting on behalf of a third party—take the opportunity to be proactive— and help them review their registrations.
31 January is coming faster than you think. Review your registrations today.