- 22.1 Registration
- 22.2 20 business day registration window – Corporations Act 2001 (Cth) section 588FL
- 22.3 Financing statements
- 22.4 The PPS Register is a “red flag” only – there is no “title by registration”
- 22.5 Requesting copies of security agreements
- 22.6 Financing change statements
- 22.7 Removal of pre-registrations where no security interest was ultimately taken
- 22.8 Registration by class of collateral
- 22.9 Registration against proceeds
- 22.10 Periods of registration – seven (7) years, 25 years or an indefinite period
- 22.11 Registration is only effective from the time the register shows the interest – so “search, register, search”
- 22.12 Verification statements
- 22.13 Search results - establishes registration time and priority time
- 22.14 Registration of PMSIs
- 22.15 Pre-registration before security interests attach
- 22.16 Inventory PMSIs must be pre-registered
- 22.17 "Silent equipment PMSI" risk
- 22.18 Amendment demands and amendment notices – cleaning up a cluttered register
- 22.19 Defective registrations
- 22.20 Other defects in registrations – PMSIs and “seriously misleading” registrations
- 22.21 Consequences of defective registrations
- 22.22 Registration, searches and privacy
- 22.23 Prescribed information, and prohibited registrations – impounded motor vehicles, proceeds of crime, freezing orders
- 22.24 Registration details for trusts
- 22.25 Applications for extension of time
PMSIs must be perfected by registration. There is no other way to perfect PMSIs. The rules that govern how PMSIs must be registered are called the PMSI Rules in this book.
The PMSI Rules1, which apply to all PMSIs, are that:
(a) perfection must be by registration;
(b) the registration must nominate that the security interest is a PMSI. This is the case even for security interests over all present and after- acquired property2;
(c) where the collateral is inventory the PMSI must be registered before the collateral is either supplied to the grantor (for inventory that is goods), or before the security interest attaches (for other inventory):
(d) where the collateral is equipment (not inventory), the PMSI must be registered within 15 business days of the secured party supplying goods to the grantor, or 15 business days of the security interest attaching for equipment other than goods.
