The Personal Property Securities Register (PPSR) is a national electronic system of registration for security interests in personal property. Personal property, in its broadest sense, includes most forms of moveable and physical goods such as plant, equipment, motor vehicles, paintings and non-physical property. Such intangibles include intellectual property, company shares and book debts.

The PPSR came into operation on 30 January 2012 in Australia and is applicable to most security interests in personal property under the Personal Property Securities Act 2009 (Cth) (PPSA). The PPSR replaced most of the numerous Commonwealth and State/Territory registries where security interests could be registered.

What is excluded from the Personal Property Securities Register?

There are several key exclusions from the definition of personal property. These include land and buildings attached to land under Section 10, fixtures, as well as statutory exclusions under Commonwealth, State or Territory law. In general, these cover statutory licences such as mining licences, liquor licences and taxi licences.

What was migrated to the PPSR?

A number of key registers migrated to the PPSR across Commonwealth and State and Territory registers. These include:

  • Australian Government Registers
    • ASIC – Register of Company Charges (including provisional charges)
    • Australian Register of Ships (mortgages only)
    • Fisheries Register.
  • Victorian Registers
    • Vehicle Securities Register (VSR)
    • Register of Liens on Wool and Stock Mortgages (stock mortgages only)
    • Register of Co-operative Charges.
  • New South Wales Registers
    • Register of Encumbered Vehicles (REVS NSW)
    • Security Interest of Goods Register:
    • Liens on Crops and Wool and Stock

How does the PPSA work?

The PPSA operates as follows:

  1. A grantor, which is usually the borrower, mortgagor, lessee or guarantor, grants a security interest in personal property (as listed above) to a secured party. This party may be a supplier, manufacturer, lessor, lender or creditor.
  2. This security interest creates an obligation on both parties and secures payment to the secured party. The security interest is now attached to the personal property (known as collateral). Once attachment has occurred, the security interest must be ‘perfected’.
  3. If there are combining security interests, priority rules apply. Section 55 of the PPSA sets out how to determine priority:
    1. a perfected security interest will always be prioritised over unperfected security interests;
    2. priority between two or more perfected security interests is determined by who perfected the security interest first; and
    3. priority between two or more unperfected security interests will depend on which party attaches their security interest first.

What is a Purchase Money Security Interest (PMSI)?

PMSIs are a particular type of security interest which has “super priority” over other interests if it is registered on the PPSR within the required timeframe.


LegalVision can assist you with any questions you may have about the Personal Property Securities Register or the Personal Property Securities Act. LegalVision has a team of excellent business financing lawyers who can assist you in registering and protecting your personal property. Please call our office on 1300 544 755 and our Client Care team will happily provide you with an obligation-free consultation and a fixed-fee quote. Get in touch today!

Anthony Lieu
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