What is a PPSR Registration?
A PPSR registration is a searchable notice placed on the PPSR to reflect a security interest over personal property. A registration is current if it has an end date in the future and has not expired or been removed.
What is an ‘amendment’?
An amendment is a modification to a current registration. Registration amendments are highly variable.
For example, the 253,808 amendments to registrations in the March quarter 2017 represent a 48.1% decrease from the 489,089 amendments to registrations in the December quarter 2016.
This variability is driven by common factors, mostly address for service changes. The number of address for service changes fell by more than 250, 000 in the March quarter 2017 compared to the December quarter 2016.
Note: An address for service change would be a change to the Secured Party contact details, and would affect every registration in the Secured Party Group.
What is the difference between ‘discharge’ and ‘removal’ of a registration?
Discharging a registration means it will expire immediately and it will no longer appear as a current registration on the PPSR. Once a registration is discharged, its end time cannot be changed. A discharge can be completed by any authorised account user.
Removing a registration removes it from the register but does not change its end time. Removal of a registration can only be completed by a delegate of the PPS Registrar.