On 30 January 2012, all personal property security interests in Australia made the transition to a single national register known as the Personal Property Securities Register (PPSR). The PPSR is a national online register that can provide information to help limit your risk when buying personal property.
InfoTrack is a licensed Personal Property Securities Register (PPSR) broker. As such, InfoTrack offers you the ability to perform a PPSR Search with ease. InfoTrack’s PPSR Search tool provides a simple way to search for interests in personal property other than land or buildings such as: Organisational Grantor, Individual Grantor, Serial Number, Registration or Ordinal searches.
Key features of PPSR Searches
- PPSR bulk order functionality with auto verification of ACN, ABN & Name.
- Auto settings to group orders into a single email.
- Auto issue email of specific PPSR results eg. Summary, Certificates and Attachments, or selected results.
- Flexible delivery options from home page of PPSR results list – Summary, Certificates, Excel options.
- Re-issue results options anytime at no extra cost– Certificates, Summary, Excel.
- Verification and auto match of Name/ACN/ABN.
- Ability to export your PPSR Search to excel format to sort and manage results.
- Search three PPSR criteria at once including ASIC Company Search.
- After your PPSR search has been ordered, free access to REVEAL, data visualisation of your PPSR Search result.
Key Benefits of Ordering a PPSR Search with InfoTrack
- Ability to search the PPSR for security interests over an item of personal property.
- Ability to create and manage current Secure Party Groups and Registrations.
- Quick access to company ‘current charges’ information no longer held by ASIC.
- Having critical information handy to provide your clients with all the data they need.
- An ability to identify all risks for your clients and their business.
- Access to the ASIC and PPSR Combined Report.
ASIC & PPSR Combined Report
When ordering an ASIC Search from InfoTrack, you have the option of including a PPSR Search which will return a Combined Report along with your ASIC and PPSR results in one PDF. The Combined Report uses smart technology to collate data from your ASIC and PPSR Search results and highlight areas of potential risk.
The Combined Report includes ASIC & PPSR results along with the following:
- Summary of ASIC & PPSR Data
A colour-coded summary of your search information which highlights areas of risk and allows for easier and faster consumption of ASIC & PPSR data.
- CreditorWatch Credit Report
A snapshot of the company’s credit history details risk data including court judgments, payment defaults, insolvency notices, mercantile enquires, credit enquiries and credit score.
A simple visualisation maps out relationships between people, companies and assets allowing you to easily view shareholder percentages and changes to corporate structure.
Types of PPSR Searches Available
- Organisational Grantor search- identify whether an organisation has any registrations over their personal property.
- Individual Grantor search - identify whether an individual has any registrations over their personal property
- Serial Number search- identify registrations for
- Motor Vehicle
- Intellectual Property
- Registration search allows users to enter a specific registration number and retrieve its details
- Ordinal search allows users to determine the order of any two specified registration events. A registration event is something has a change number allocated to it, or is an expiry date.
Secured Party Groups (SPGs)
InfoTrack gives clients the ability to create a secured party group, manage PPSR registrations.
A secured party group is the individual or organisation who holds a security interest in personal property (PPSR). A secured party group is a system construct used by the PPSR to help secured parties manage their registrations.
The SPG can have any combination of individual or organisation secured parties.
The Personal Property Securities Register (PPSR) provides a single system where all registrations of security interests in personal property have been combined to create a comprehensive, publicly accessible database. This database has been created so it is possible to view security interests registered against specified collateral. It is available to the public and can be used by consumers, businesses and the finance industry, as well as by those who sell collateral on consignment or credit.
The new PPS Register was introduced nationwide in January 2012, providing a streamlined service that is easily accessible to both businesses and consumers. The initiative behind incorporating registers into one national database is to provide fast, accurate information on registered personal property in Australia, instantly allowing the public to see whether there is security interest registered against it. The register also aims to assist in increasing the availability of finance, and to reduce possible additional costs that can be associated when making insufficiently informed decisions on purchases.
Those who use the PPSR are purchasers, interested parties, or secured parties (those who have registered their interest against the personal property). To understand the functions of the PPSR fully, it is important to know the basic concepts involved.
Any form of possession, not including land. It must be possible for this “personal property” to be transferred ownership from one party or individual to another. For example, this includes tangible or physical items such as cars, boats, art, shares, livestock, but also in tangible concepts such as intellectual property or licensed rights.
A secured party is any entity that has interest in collateral. Basically, this means that the specified party has an interest in seeing that the total value of the collateral is paid in full to the provider of the collateral. These parties use the PPSR to register the value and information related to their collateral for public use, and to protect themselves against loss. The secured party could be an individual or a company.
Imagine the PPSR as a noticeboard of security interests. By registering client security interests there are several advantages. Firstly, a priority ranking can be established between registrations made against the collateral, and secondly in cases of liquidation or bankruptcy, the registration of interests confirm who is entitled to be compensated first. Being able to register your client’s security interests is a valuable service, as it can help protect them from potential financial loss.
Central to the creation of the PPSR is the intention to improve levels of debt protection, both for individuals, and for organisations who have an interest in secured personal property, as well as being for those who are involved in potential transactions related to collateral. As the sole source of national information on personal property, the register aims to eliminate any uncertainties around validity of the search results, as it is committed to supplying the most current information possible.