Glossary

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'Other goods' is a collateral class and means personal property that is goods, other than agriculture, aircraft, motor vehicles and watercraft.

Example:

Bank X has a security interest over ABC Ltd's space satellite. A space satellite is a tangible property (ie goods) but is not agriculture, aircraft, motor vehicle or watercraft. It is therefore assigned the collateral class 'other good' in the registration.

outboard motor means an engine that:

  1. has a propeller and a manufacturer's number,
  2. is designed to be attached to a boat or vessel, and
  3. is intended for use to propel a boat or vessel.

Outboard motors generally belong to the collateral class 'other goods'.

A patent is a right granted for any device, substance, method or process which is new, inventive and useful. A patent is intangible personal property.

PBRs are exclusive commercial rights to a registered variety of plants. PBRs are a form of intellectual property and are administered under the Plant Breeder's Rights Act 1994 (Cth). PBR is intangible personal property. The Plant Breeder's Rights Act is available on the Comlaw website.

Patent Cooperation Treaty number. An international patent application number issued under the Patent Cooperation Treaty. See the IP Australia website for more information about the PCT number.

New registration applications that are incomplete can be saved as pending. A pending application has no legal status and is not shown publicly on the PPS Register.

The PPS Register allocates a number to the pending application and the application can be accessed by entering in this pending application number.

Pending applications are deleted after a set period. No records will be kept of deleted pending applications.

The period of time before which pending applications are deleted.

Perfection of a security interest gives it priority over unperfected security interests in the collateral. A security interest may be perfected by registration, possession, or control. In certain circumstances, a security interest may only be temporarily perfected.

Permissions, in relation to transactions on the PPS Register, refers to the ability to undertake tasks or transaction on the PPS Register.

Each permissible action in the PPS Register should have at least one corresponding permission to authorise it. For example, the details of a registration can be retrieved, provided the corresponding registration token is supplied.

Permissions are not directly assigned to a user of the PPS Register. Roles are formulated from a conglomeration of permissions. All actions that a user can take are authorised through the appropriately assigned groups of roles.

Any form of property, other than land or a right or entitlement under a Commonwealth, state or territory law that declares that the right or entitlement is not personal property for the purposes of the PPS Act.

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