The PPSA (Personal Property Securities Act) came into force on 1 May 2002. It is set out to provide a single, online location where suppliers and lenders could find out at minimal cost what existing security interests there are against their assets.
The PPSA introduced a registration system for what are termed ‘security interests’ in personal property. This is run through an online registery called the PPSR, which anyone can search for just $3.
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