An Overview of the PPSR Certificate – Why Should You Get One

The PPSR Certificate (Personal Property Security Registration) provides information about security interest in personal property that primarily includes debts and other obligations. The PPSR is the official register maintained by the Government of Australia and can be accessed 24x7. All data about a specific personal property can be obtained in the form of a PPSR Certificate.

On 30th Jan 2012, the PPSR was launched by the Australian Government with the goal to replace the existing state-based registers like the REVS and other vehicle registers as well as the ASIC Register of Company Charges, and others. All these separate entities were combined to form one register at the national level.

Why should you register an interest on the PPSR for your personal property? It is because by doing so, you are letting everybody know that you are having a security interest in it, information that can be had by anyone through a PPSR Certificate. Personal property for the purpose of getting a Certificate is related to cars, company assets, boats, cars, used goods, and intellectual property but excludes land and other similar assets. The scheme is so popular that millions of searches take place and PPSR Certificates are obtained every year in Australia. 



There are several reasons why you should obtain a PPSR Certificate.

The first and most critical is that you can know whether somebody has a security interest on a specific property before buying or lending money against it. The Certificate will show if somebody already has a lien over it thereby stopping you from investing further in it. This is because if you do, you will not have any right over it and cannot transfer the title to your name. There will also be fear of repossession later.

Look at it from another angle where you have personal property. Why should you register it on the PPSR, especially if you are selling on retention of title terms or consignment and even when you are hiring or leasing out goods? It is because by registering your property you will be protected if your customer goes bankrupt as you can then establish your rights over the property through a PPSR Certificate.

The functioning of the PPSR is managed and controlled by the Registrar of Personal Properties Securities who is appointed by the Attorney General’s Department. The office of the Registrar is based in the Commonwealth government department and is known as the Australian Financial Security Authority (AFSA) which is an executive agency in the portfolio of the Attorney General who is also responsible for the PPS Act.

The role of the Registrar is to manage the PPSR and ensure that not only is a PPSR Certificate readily available but also the information contained in it can be relied upon. It is the Registrar who decides what can be registered on the PPSR and when the PPSR would be available.



Location: Australia

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