- 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
To prevent the rapid circulation or dissipation of property the subject of actual or potential crimes or freezing orders, the PPSA permits the Registrar to record details of the following collateral on the PPS Register, and prohibits the registration of security interests over that collateral1:
(a) impounded motor vehicles: a motor vehicle that has been impounded or immobilised by the police because it has been used to commit offences;
(b) proceeds of crime: property that is subject to an order under proceeds of crime legislation (to support the proceeds of crime legislation); and
(c) property subject to a court order: property the subject of a court order that prevents or restricts dealings with, or disposals of, it.
Notes:
1 PPS Regulations, regulations 5.3 and 5.4.
