Personal Property Securities Register
Australian Experience
Peter Edwards
National Manager Client Services Division
Deputy Registrar of Personal Property Securities
Overview
•History
•Implementation issues
•Operational model
•Recent issues / events
A little about Australia
• Population: 23 million
• Main language: English + 300 others
• Sixth largest country (land area)
• Two million actively trading businesses
• $AU500 billion in personal lending
The past approach
• Numerous Acts and
Registers
• Lack of a uniform approach
Major reform
Agricultural Chemicals Distribution Patents Act 1990 (Cth)
Air Navigation Act 1920 (Cth)
Australian Industry Development Corporation Act 1970 (Cth)
Australian Register of Company Charges (Cth)
Australian Register of Ships (Cth)
Bills of Sale (Fees) Regulations 1983
Bills of Sale (Fees) Regulations 1995
Bills of Sale (Requirements as to Instruments) Regulations 1995
Bills of Sale and Other Instruments Act 1955 (Qld)
Building Act 2000 (Tas)
Building And Construction Industry Security Of Credit Act 1984 Vic)
Building and Construction Industry Security of Payments Act
1999 (NSW)
Chattel Securities Act 1987 (Vic)
Chattel Securities Regulations 1997
Commonwealth Inscribed Stock Act 1911 (Cth)
Confiscation Act 1997 (Vic)
Consumer Credit (New South Wales) Act 1995 (NSW)
Consumer Credit (Tasmania) Act 1996
Consumer Credit Act 1995 (ACT)
Control Act 1966 (Qld)
Conversion Act 1921 (Cth)
Conversion of Securities Adjustment Act 1931 (NSW)
Conveyancing Act 1919 (NSW)
Co-operatives Act 1992 (NSW)
Co-operatives Act 1996 (Vic)
Cooperatives Act 1997 (QLD)
Cooperatives Act 1999 (Tas)
Cooperatives Act 2002 (ACT)
Co-operatives Housing and Starr-Bowkett Societies Act 1998 (NSW)
Co-operatives Regulations 1997
Cooperatives Regulations 2003
Copyrights Act 1968 (Cth)
Corporations Act 2001 (Cth)
Credit (Rural Finance) Act 1996 (Qld)
Credit Act 1984 (NSW)
Credit Act 1985 (ACT)
Designs Act 2003 (Cth)
Disposal Of Uncollected Goods Act 1961 (Vic)
Disposal Of Uncollected Goods Goods Act 1968 (Tas)
Domestic (Refal and Nuisance) Animals Act 1994 (Vic)
Duties Act 1997 (NSW)
Duties Act 2000 (Vic)
Factors (Mercantile Agents) Act 1923 (NSW)
Factors Act 1891 (Tas)
Fair Trading Act 1999 (Vic)
Finance Brokers Control Act 1975 (WA)
Fines Act 1996 (NSW)
Fines, Penalties and Infringement Notices
Fisheries Act (Vic)
Fisheries Act 1995 (Vic)
Fisheries Management Act 1991 (Cth)
Forestry Rights Act 1996 (Vic)
General Register of Deeds (Registration of Deeds Act 1957 (ACT))
General Register of Deeds (Security Interests in Goods Act 2005 (NSW))
Goods Securities Regulations 1997
Hemp Fibre Industry Facilitation Act 2004 (ACT)
The PPSR replaced legislation
Homes Act 1935 (Tas)
Impounding Act 1993 (NSW)
Instruments (Fees) Regulations
Instruments Act 1933 (ACT)
Land Titles Registry and General Registration Office (NT)
Legal Aid Commission Act 1979 (NSW)
Legal Practitioners Act 1968 (SA)
Loans Securities Act 1919 (Cth)
Loans Securities Redemption and Offshore Minerals Act 1994
(Cth)
Mercantile Law Act 1962 (ACT)
Mining Act 1992 (NSW)
Motor Car Traders Act 1986 (Vic)
Motor Dealers Regulations
Motor Vehicle Securities Act 1984 (Tas)
Offshore Minerals Act 1999 (NSW)
Offshore Petroleum Act 2006 (Cth)
Partnership Act 1891 (Tas)
Partnership Act 1892 (NSW)
Partnership Act 1958 (Vic)
Partnership Act 1963 (ACT)
Pawnbrokers Act 1902 (ACT)
Pawnbrokers And Second-Hand Dealers Act 1996 (NSW)
Payments Act 1999 (NSW)
Payments Act 2002 (Vic)
Penalty Unites and Other Penalties Act 1987
Petroleum (Onshore) Act (NSW)
Pharmacy Practice Act 2006 (NSW)
Property Law Act 1958 (Vic)
Public Trustee Act 1941 (WA)
Public Trustee Act 1985 (ACT)
Register (Bills Of Sale Act 1886 (SA))
Register of authorisations (Fish Resources Management
Act 1994 (WA))
Register of Charges for Co-operative housing bodies (NSW)
Register of Cooperative Charges (ACT)
Register of Co-operative Charges (NSW)
Register of Co-operative Charges (NT)
Register of Co-operative Charges (SA)
Register of Cooperative Charges (Tas)
Register of Co-operative Charges (Vic)
Register of Designs (Cth)
Register of Encumbered Vehicles (REVS) (NSW)
Register of Interests in Motor Vehicles and Other Goods (NT)
Register of legal and equitable interests in exploration licences,
assessment leases and mining leases (NSW)
Register of legal and equitable interests in petroleum titles (NSW)
Register of Liens (Liens on Crops of Sugar Cane Act 1931 (Qld))
Register of Liens on Crops, Register of Liens on Wool and
Mortgages of Stock (Vic)
Register of mortgages of mineral development licences (Vic)
Register of Patents (Cth)
Register of Plant Breeder’s Rights (Cth)
Register of Security Interests (Bills of Sale and Other Instruments
Act 1955 (Qld))
The PPSR replaced other registers
Register of Security Interests (Motor Vehicles and Boats
The Register (Liens On Fruit Act 1923 (SA))
Securities Act 1986 (Qld))
The Register (Motor Vehicle Securities Act 1984 (Tas))
Register of Trade Marks (Cth)
The Register (Stock, Wool And Crop Mortgages Act 1930 (Tas))
Register under Registration of Interests in Goods Act 1986 (NSW) Trade Marks Act 2995 (Cth)
Registrar-General to collate (Instruments Act 1933 (ACT))
Traffic Act (NT)
Registration Of Interests In Motor Vehicles And Other Goods Act Transport Act 1983 (Vic)
1983 (NT)
Treasury Bills Act 1914 (Cth)
Co-operatives Regulations and Admiralty Act 1988 (Cth)
Tribunal Act 1998 (Vic)
Registry Book (Bills Of Sale Act 1899 (WA))
Trustee Act 1958 (Vic)
Rights in Water and Irrigation act 1914(WA) Act 1983 (NT)
Uncollected Goods Act 2004 (NT)
Road Safety Act 1986 (Vic)
Vehicle Securities Register (Chattel Securities Act 1987 (Vic))
Road Traffic Act (NT)
Victorian Civil and Administration
Sale of Goods (Vienna Convention) Act 1987 (Vic)
Warehouseman's Liens Regulations 2007
Sale Of Goods Act 1895 (SA)
Warehousemans’ Liens Act 1935 (NSW)
Sale Of Goods Act 1896 (Tas)
Warehousemen's Liens Act (NT)
Sale Of Goods Act 1972 (NT)
Warehousemens’ Liens Act 1958 (Vic)
Second-Hand Dealers and Pawnbrokers Act 1989 (Vic)
Water Management Act 2000 (NSW)
Second-Hand Dealers and Pawnbrokers Act 1994 (Tas)
Wool International Act 1993 (Cth)
Second-Hand Dealers and Pawnbrokers Act 1996 (SA)
Shipping Registration Act 1981 (Cth)
State Offshore Mining Register (NSW)
Taxation Administration Act 1953 (Cth)
The Register (Bills Of Sale Act 1900 (Tas))
The Register (Chattel Securities Act 1987 (WA))
The Register (Goods Securities Act 1986 (SA))
Objectives of the reform
• Increase certainty
• Increase consistency
• Reduce
complexity
• Reduce
costs
Implementation
• PPSR went live end of January 2012
- Completely online
- Service support via AFSA’s National Service
Centre
• Implementation issues
- Data migration
- Effectiveness of communication
- System outages
Management of PPSR
• Attorney-Generals Department
 Policy
• AFSA
 Operations




Management of ICT systems
Stakeholder engagement
Procurement and contract management
Amendment demands / transactional surveillance
 Governance

Sub-committee of the National Management Board
Number of searches on the PPSR
7,400,000
Number of searches on the PPSR
7,200,000
7,000,000
6,800,000
6,600,000
6,400,000
6,200,000
6,000,000
2013
2014
Calendar year
Number of current registrations on the PPSR
9,000,000
Number of current PPSR registrations
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
As at 31 Dec 2012
As at 31 Dec 2013
As at 31 Dec 2014
Collateral class listed on registration
Current PPSR registrations by collateral class
Aircraft
0.2%
Financial property
0.4%
Watercraft
0.5%
Agriculture
0.8%
Intangible property
1.0%
All present and after acquired property, except
All present and after acquired property
2.6%
21.0%
Other goods
Motor vehicle
0.0%
22.6%
50.9%
10.0%
20.0%
30.0%
40.0%
50.0%
Proportion of current PPSR registrations
http://www.afsa.gov.au/about-us/ppsr/ppsr-statistics
60.0%
Legislative review
• Section 342 Personal Property Securities Act 2009
 Required review of Act to be completed by January
2015
• Final Report released on 18 March
 www.ag.gov.au/ppsareview.
 Highlighted transitional issues and complexity
 Made number of recommendations for improvement
Successes
• Close working relationship with stakeholders
 Peak Body Stakeholder Forum
 Operational Forum
 Technical Forum
• Enhancement program - co-design with industry
Successes
• Private – Public Relationship
 Around 200 organisations maintain business to
government (B2G) interface
 80% transactions on the register via B2G
• AFSA’s role
 Manage administrative amendment demand process
 Equity of access
- WebUI
- Search & service support via National Service Centre
- Foster and promote competitive environment between
B2Gs
Recent novel issue
• Federal Court decision
 SFS Projects Australia Pty Ltd v Registrar of Personal
Property Securities (No 2) [2014] FCA 987
Questions