You need to read this!
If the expiry of registration of your ‘security interest’ on the Personal Property Security Register is coming up soon, you need to act quickly.
Once a registration has expired, it cannot be extended or renewed. You will lose:
- Your registered security;
- Your enforcement rights under the Personal Property Securities Act; and
- Any priority the registration gave you over other secured parties.
Act now before it is too late. We guarantee you won’t remember to deal with this when in the days leading up to the expiry date.
What you need to do
Just remember the Three Rs:
Review your registrations – check whether you have any registrations approaching their expiry date.
Rectify any incorrect details in your registrations – now is a good time to make sure any transitional registrations that were migrated across from other registers (such as the ASIC register of charges) are correct.
Renew any expiring registrations that you still need – timely renewal will ensure that you maintain the priority of your registration.
We can help!
If you need help making sure you are protected, call us on 1300 654 590 or email us and let us do the hard work for you.
The information contained in this post is current at the date of editing – 5 May 2023.
