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PPSR releases statistics and amends Practice Statement, ITSA schedules outage and other PPS news
 

According to recently-released statistics, there were over 1.5 million searches conducted on the Personal Property Securities Register (PPSR) in the July to September 2012 quarter. Over 950 000 of these were searches by serial number for motor vehicles; 488,758 were searches by organisational grantors.

As at the end of September, there were over 6.9 million registrations on the PPSR. Of these, over 3.8 million relate to motor vehicles, and over 1.8 million relate to all present and after acquired property.

The statistics cover:

  • • searches conducted on the PPSR by:
    • – type
    • – type of user
  • • activity regarding PPSR registrations (number of transactions to create, amend or remove registrations)
  • • number of PPSR registrations by:
    • – kind of interest
    • – collateral class
    • – kind of collateral.

Source: PPSR, Statistics: July to September 2012, available at: www.ppsr.gov.au/NewsRoom/News/Pages/StatisticsJulytoSeptember2012.aspx.

See also: Veronique Ingram releases Personal Property Securities Register quarterly statistics, 20 November 2012.

ITSA outage

Due to a scheduled outage, Insolvency and Trustee Service Australia (ITSA)’s National Service Centre will not be responding to personal property securities (PPS) customer queries on Sunday 25 November 2012.

Source: PPSR, Important Announcement, 21 November 2012.

Practice Statement amended

Some amendments have been made to the Personal Property Securities Registrar’s Practice Statement No 7 Judicial Proceedings Sections 218 and 219, as follows:

  • • New items on the list of matters that a person should include in an application to the Registrar:
    • to intervene in proceedings: legal advice addressing the reason(s) why the proceedings are in respect of a PPS issue
    • to initiate proceedings in the person’s name:
      • i) legal advice addressing the reason(s) why the proceedings are for the recovery of damages with respect to a PPS matter, and
      • ii) the public interest grounds for the Registrar to initiate the proceedings (this replaces a requirement to state “the matters in which the Registrar’s intervention could assist the court”).
  • • Mandatory requirement to include certain information and documents in an application for the Registrar to initiate proceedings in the person’s name (as opposed to a request that they be provided, if available: see the previous Version 1.0 of the Practice Statement).
  • • New option for applications to be sent by email to forms@ppsr.gov.au.
  • • Updated postal address for applications (referring to ITSA in addition to the Registrar):

    “The Registrar of Personal Property Securities

    Insolvency and Trustee Services Australia

    National Service Centre

    GPO Box 1944

    Adelaide SA 5001”.

  • • Intervention by the Registrar will be through a legal adviser only (the previous Version 1.0 stated: “The Registrar will appear through the Registrar’s own staff member or legal adviser”).
  • • The Registrar will only cause proceedings to be commenced and carried on in another person’s name in response to a request (the previous Version 1.0 stated that the Registrar may do this in response to a request, or on his own initiative).
  • • Shift in policy considerations: The current Version 1.1 states:

    “The Registrar will consider engaging in proceedings which may significant affect the interpretation or application of the PPS Act”.

    This differs from the previous Version 1.0, which stated “The Registrar will be inclined to engage in proceedings which arise as a result of ambiguity in the PPS Act”.

Source: Personal Property Securities Registrar’s Practice Statement No 7Judicial Proceedings Sections 218 and 219, Version 1.1, 19 November 2012 (replacing Version 1.0, 30 January 2012).

C4 release

The implementation of the first stage (Functionality) of the C4 software code was completed on 18 November 2012. The second stage (Reports) has not yet been scheduled.

The C4 code is designed to improve various functions of the PPSR. For further information see: PPS: technical improvements delayed; PPSR/CRIMTRAC/NEVDIS outages, 13 November 2012.

Source: PPSR, Announcements, C4 release, 20 November 2012.

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