Is Your PPSR Registration About to Expire?

Rebecca Hegarty

Don't become an unsecured creditor!

With the Personal Property Securities Register (PPSR) having officially turned 7 years old as of 30 January 2019, Coleman Greig would like to remind our commercial clients that as of and from 30 January 2019, all 7 year PPSR registrations have started to expire.

As such, it is crucial to be aware of the date that your original registration(s) took place.  If, for example, your 7 year registration was effected on 25 February 2012, it will expire on 25 February 2019.

Please note that once a registration does expire, it cannot be extended or renewed - potentially leaving you as an unsecured creditor.  If you find yourself needing to re-register an expired registration, you may lose priority to other creditors who have registered before your new registration.

It is also important to be aware that as you will not be notified of the expiration of registrations on the PPSR, and that as such it is your responsibility to take the necessary steps to extend all registrations prior to your original expiry date.

What steps should you take?

Keep in mind:

If you have any questions regarding your PPSR registrations and would like to speak with a lawyer in Coleman Greig's Commercial Advice team, please don't hesitate to get in touch today.