Charges and the Personal Property Securities Register

On Monday 30 January 2012 the Charges Register maintained by ASIC, was transferred to the Personal Property Securities (PPS) Register.

The new PPS Register is part of a reform that will affect the way businesses and consumers deal with secured finance in Australia. Examples of business owners and consumers who may be affected by changes to personal property security laws are:

• buyers of properties that may be subject to a security interest

• business or consumer borrowers

• providers of credit, or

• investors who are contemplating buying into a business.

Company searches

From Monday 30 January 2012 only charges satisfied prior to the new register commencement will be available for searching on the ASIC Register.

A historical search will contain details of any historical charge recorded on ASIC's Register of Company Charges. Abbreviations that may be used are:

Abbreviation	Definition
SATF	Fully satisfied i.e. discharged in full
DLTD	Deleted charge

Further information

For further information on the PPS Register, refer to www.ppsr.gov.au or email any queries to enquiries@ppsr.gov.au. You can also call the PPS Register enquiries line on 1300 007 777.