If there is no evidence to the contrary, search certificates are proof of the data returned in a search result, and are admissible as evidence in a court or tribunal.
A unique number that is assigned to each search certificate issued. Multiple search certificates can be issued for each search number. The search certificate number can be used to reissue a search certificate at a later time.
A number that is returned with a search. It identifies the search that was undertaken. The search number can be used to view the search result again at a later time.
The person who holds a security interest in personal property.
A unique identifier for each secured party group.
A secured party group (SPG) is a system construct used by the PPSR to help secured parties manage their registrations. The SPG can have any combination of individual or organisation secured parties.
Secured party identification or identifier refers to the details that are used to identify the secured party in a registration.
The rules for secured party identification are set out in the PPS Regulations.
In brief, the Regulations provide that where the secured party is an individual, the identifiers are to be sourced from the documents in this order:
- the current driver's licence issued by an Australian state or territory
- proof of age card issued by an Australian state or territory
- Australian passport
- Australian visa
- passport from country secured party usually resides, or
- details on birth certificate.
Different rules apply depending on whether the secured party is a body corporate, a partnership, trustee of a trust, or a body politic. Fields on the PPSR change according to the identifier selected.
Organisation identifiers are the ARSN, ACN, ARBN, ABN or name. It is important that you enter the highest priority identifier according to the organisation type.
See the PPS Regulations for more information on the secured party identification rules.
An agreement or act by which a security interest is provided; or writing evidencing such an agreement or act.
A security interest is most commonly created when a secured party (such as a lender) takes an interest in personal property of a grantor (such as a borrower), as security for a loan or other obligation. The security interest means the secured party can take the personal property (known as the collateral) if the secured obligation is not met.
Security interests can only arise when there is agreement between the grantor and the secured party. There are a small number of other types of transactions that also create security interests known as deemed security interests.
In relation to collateral, means a serial number by which the PPS Regulations require, or permit, the collateral to be described in a registration.
The PPS Regulations provide that the following may be described by serial number:
- commercial property that is:
The PPS Regulations provide that the following must be described by serial number:
- consumer property that is:
- motor vehicle
- certain intangible property (patent, trade mark, plant breeder's right, and design), and
- aircraft (airframe, aircraft engine, helicopter and small aircraft).
- commercial property that is:
- aircraft (that is further described as airframe, aircraft engine, helicopter and small aircraft).