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.