Have you registered a PPSR charge against a creditor? PPSR seven year registrations due to expire
If you are a secured party (have taken a charge against a creditor), it is important to monitor the registration terms and expiries.
PPSR is reaching the milestone of seven years since commencing on 30 January 2012.
It is important to note that all seven year registrations will start to expire as of 30 January 2019.
The default registration period for many migrated registrations is seven years, indicating that current registrations may be affected by this expiry.
If you have received an email indicating you have registrations about to expire, please do not ignore.
You will need to review the expiry dates and consider if these registrations need to be extended.
Registrations must be extended prior to the expiry date to ensure your protection is continuous. A break in protection means that you will lose your priority and may be exposed in the event of insolvency.
To check if you have any registrations due to expire follow the link https://www.ppsr.gov.au/how-get-your-registrations-due-expire-report
More information can be found on https://www.ppsr.gov.au/blog-speeches/our-7-year-anniversary-approaching-are-you-ready
If you would like any further advice please contact us no later than 29 January 2019.