But it could be at further risk if your business is not registering (or checking for) security interests on the Personal Property Securities Register (PPSR).
namely the Motor Vehicle Register, Companies Charges Register, the Industrial and Provident Societies Register (all held at the Companies Office) and the Chattels Register (High Court).
The PPSR is the establishment of a centralised, searchable, electronic register for the registration of any security interest or agreement relating to personal property (excluding land and ships over 24 metres in length).
The register is a form or an electronic 'notice board' where secured parties can record specific details about security interests in personal property. All registrations are filed in an electronic format. The register files financing statements not agreements.
With Veda, you are able to register or check any security interest relating to personal property, (excluding land) in one easy step. With our dedicated direct link to the PPSR you can access all your information from one site.
The PPSR allows you to:
The search capabilities allow you to search on security interests by:
As a PPSR subscriber, you can also:
Anyone can search the PPSR but only a Subscriber to the PPSR service can register a Financing Statement and use the maintenance functions.