Seven years of PPSR – Do you need to extend your expiry date?
It has been almost seven (7) years since the Personal Property Securities Register (PPSR) was established, creating a national online register that allows security interests in personal property (including vehicles, plant and equipment and livestock) to be registered and searched.
Many registrations are put in place for a period of seven (7) years so, from 30 January 2019, it is possible that those earlier registrations will soon start to expire meaning the person who registered the security will no longer be a secured creditor.
Now is the time to check the expiry dates of your PPSR registrations and diarise when they need to be renewed. The PPSR website www.ppsr.gov.au sets out how you can renew your PPSR registrations to avoid expiry and remain a secured creditor.