About the Personal Property Securities Register

From 30 January 2012, a number of existing Commonwealth, State and Territory property security registers, including the state operated REVS registers, will close and be replaced by a single national law and register called the Personal Property Security Register (PPSR).

Encumbrances recorded in the existing state REVS registers will be migrated to the national PPS Register, which can be accessed and searched online through Dealer Solutions. Dealer Solutions will also be providing a number of unique industry specific services to assist dealers in managing their PPSR obligations.

Unlike the REVS registers that it replaces, the new PPS Register will include a range of property such as motor vehicles, livestock and crops as well as intangible items such as licences and company charges.

A personal property security is when a secured party takes an interest in personal property as security for a loan or other obligation, or enters into a transaction that involves the supply of secured finance. Generally, the person who makes the registration is a secured party or its agent.

An example of this would be motor vehicle finance, where the motor vehicle is used as security for the loan. The financier's interest over the vehicle is a personal property security and the financier is the Secured Party.

There are a raft of ramifications for the retail motor trades in relation to PPSR that Dealer Solutions will address for you over the coming weeks and months. We will be running a PPSR forum that you can view below and come back to whenever you like or you can subscribe to our RSS feed for updates. Please read the questions and answers in the forum and feel free to ask some of your own.

We have enlisted some help. As trusted legal advisers to Dealer Solutions for many years, Holding Redlich have a detailed understanding of the retail motor industry and the impact that applicable legislation and other regulations has on your business as a Motor Dealer.

Dealer Solutions has invited Holding Redlich to participate in our forum to ensure that we are providing you with both practical and legal advice about PPSR and its application.

For advice specific to your business, we recommend contacting Holding Redlich directly on the numbers to the right.

Answers provided by Holding Redlich are of a general nature only and are not intended to address the circumstances of any individual or entity and the information given may not continue to be accurate after the date that it is provided. The information provided by Dealer Solutions is their opinion only and does not constitute, and is not intended to be, legal advice. For advice specific to your circumstances, please contact Holding Redlich directly.