PPSR | Cengage Australia

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About Personal Property Securities Register (PPSR)

FAQs

1. What is PPSR?

The PPSR is a national register where details of security interests in personal property can be registered and searched. It is an online noticeboard where you can register a notice to show that you have rights over personal property that secures payment of a debt or other obligation.

2. Is there any cost to the customer?

There is no cost to the customer as Cengage Learning will absorb the registration fee.

3. Is this replacing the retention of title

Yes. PPSR came into effect back in 2012 as a replacement of the retention of title clause in individual contracts

4. Would this registration effect day to day operation with Cengage?

No. This registration helps Cengage Learning to become a secured creditor in the event of a customer going in to receivership.

5. What is the main purpose of the register?

The main purpose of the register is to protect the rights of lenders when a Grantor (the borrower) becomes bankrupt or insolvent.

6. What is a registration?

A registration is the process of recording the existence of a security interest on the PPSR. All registrations on PPSR are Security Interests.

7. What is a Security Interest?

A Security Interest refers to an interest in personal property that secures payment of a debt or other obligation. For example, if you were to purchase a new vehicle on finance, the company providing the finance will hold a Security Interest over that vehicle until full payment has been made.

8. Would this effect creditor credit rating?

No. There is no effect to creditors credit rating.

9. Benefits of PPS Reform and the PPSR?

One of the major components of the reform is the combination of existing state and Commonwealth registers into a single register, the PPSR. An increased opportunity exists for businesses to use personal property as Collateral for finance, enabling the securing of capital for growth. There is also an increased level of transparency with more Security Interests being registered and available for searching.

10. What is personal property?

Personal property is any property other than real property (land & fixtures).

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