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Personal property used in the ordinary course of business by an entity with an ABN, including:
- property held for sale, or lease
- property held to be provided under a contract for services
- property held as raw materials or as work in progress, and
- property used or consumed as materials.
See definition of 'inventory' under section 10 of the PPS Act.
The key contact for a PPS Register account customer is the person who will be contacted if there are problems with the account.
Key contact details are not made available to the public.
Livestock is a sub-class of the Agriculture collateral class and includes:
- while they are alive – alpacas, cattle, fish, goats, horses, llamas, ostriches, poultry, sheep, swine and other animals
- the unborn young of animals mentioned in paragraph (a), and
- the products of livestock before they become proceeds (for example, the wool on a sheep's back before the sheep is shorn).
The identifying numbers/letters that are stamped or attached to an aircraft or motor vehicle by its manufacturer.
Fees are charged for some transactions undertaken on the PPS Register.
Methods of payment include:
- pay-as-you-go (fees paid by credit card as they are incurred – this is the default method)
- pre-payment (users credit money into their account, and this account is drawn down as transactions are being undertaken)
- invoicing (the account customer is sent an invoice for transactions undertaken during the invoice period).
Account customers may apply to the PPS Registrar's Office to use a different payment method (other than pay-as-you-go or pre-pay) for their account.
The time at which data from transitional registers (registers of security interests in existence prior to the PPS registration commencement time, such as the ASIC charges register and state and territory registers of encumbered vehicles) are migrated to the PPS Register.
Usually a car, truck, motorbike, tractor, caravan or trailer.
It is self-propelled property:
- built to travel wholly on land,
- capable of at least 10km/h, AND
- with one or more motors with total power greater than 200W.
It can also be:
- machinery or equipment with wheels built to be towed at more than 10km/h (e.g. a trailer).
If the property runs on rails, tram lines or other fixed path it is not defined as a motor vehicle.
Before 1 July 2014
The law changed on 1 July 2014 to narrow the definition of a motor vehicle.
Under the old definition, a motor vehicle had to:
- be capable of at least 10km/h, OR
- have one or more motors that have a total power greater than 200W.
Under the new definition, a motor vehicle must have both of these characteristics.
For more information, see regulation 1.7 of the Personal Property Securities Regulations 2010.