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Personal Property Securities

Personal Property Securities – Melbourne

Prior to 2012, there were approximately 195 Acts and Regulations and 70 registers affecting personal property interests. On January 30, 2012, the Personal Property Securities (PPS) Act was introduced, and created a single national system responsible for the creation, registration, priority and enforcement of personal property security interests.

Examples of items which may be regarded as personal property include:

  • Boats
  • Cars
  • Furniture
  • Machinery

For legal purposes, a security interest might be created if a lender provides finance to purchase personal property thought wholesale sale, lease, consignment or bailment.

In the past, many transactions were not counted as registrable security arrangements. Under the PPS Act, finance lease agreements, PPS Leases, commercial assignments and retention of title transactions are all treated as registrable security arrangements.

The Insolvency Trustee Services of Australia (ITSA) administers and maintains the Personal Property Securities (PPS) register, which provides a central online location for individuals around Australia to:

  • Carry out a search to check if personal property may be covered by a security interest (an example being whether or not it can be repossessed), and
  • Register any security interests they may have in personal property, so that those interests are protected.

Previously, there were over 70 registers around Australia, such as the Vehicles Securities Register (VSR), Register of Co-operative Charges, and ASIC’s Register of Company Chargers. All of these have been replaced by the new PPS register.

The PPS Act’s primary functions are:

  • Reducing the complexity and costs associated with secured finance in Australia
  • Enhancing the ability of consumers and businesses alike to use assets as security, therefore improving their chances of obtaining cost-effective finance
  • Increasing the certainty and consistency of secured finance in Australia

The introduction of the PPS Act has been important for businesses in Australia; however, many still do not entirely understand the PPS Act. It may be that some business owners are still unaware of how to utilise the PPS Act effectively. This may be due to the vast number of new rules and concepts outlined in the Act.

We can assist you in handling registrations on the PPSR – Personal Property Securities – Melbourne, and advise you on how best to use the PPS Act to the advantage of your business or personal property. Contact us on +61 3 9832 0608 or email at

Helpful links:
Personal Properties Security Register