The Personal Property Securities Register (PPSR) is the register where details of security interests in personal property can be registered and searched. The Insolvency and Trustee Service Australia (ITSA) is the Australian Government agency responsible for administering the PPSR.  You can view a Fact Sheet Here.

It replaces the previous, locally managed, VSR records so among other aspects this impacts the way in which lenders record an interest in property where funds are lent for its purchase.

Consumers and business operators can search the PPS Register when they need to know whether certain personal property has a security interest registered against it.  The PPS Register is a single point of contact register for consumers, businesses and the finance industry.

The PPS Register will be used in many situations including:

• finance companies that provide loans on the basis that they receive a security interest in an item of personal property to register their interest in the property on the PPS Register
• business operators who sell personal property on credit, consignment, or on a retention of title arrangement to register their interest in the property on the PPS Register, and
• consumers who are about to purchase personal property, such as valuable second goods, to search the register  before buying to make sure that the property is free of a security interest.