Register security interests on the PPSR
Secured creditors must register on the Personal Property Securities Register to preserve priority.
Who must comply
Secured creditors taking security interests in personal property — equipment finance, leasing, retention of title, factoring.
What triggers it
Taking security interest in personal property.
When due
Before relevant priority point (typically before customer files for insolvency).
Evidence required
PPSR registration (verifiable online).
Max penalty
Loss of priority in insolvency; commercial consequences
Summary
Personal Property Securities Act 2009 (Cwlth) governs security interests in personal property (other than land). Failure to register on PPSR causes priority defeat against subsequent registered interests + perfected interests in insolvency. Registration via AFSA.
Enforced by
Source legislation
Topics
Source: https://www.ppsr.gov.au. Rules Mate is not a law firm. Always verify against the live regulator source before acting.