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35 Melb. U. L. Rev. 865 (2011)
A PPSA Registration Primer

handle is hein.journals/mulr35 and id is 881 raw text is: A PPSA REGISTRATION PRIMER ANTHONY DUGGAN* [The Personal Property Securities Act 2009 (Cth) ('PPSA) came into effect on 30 January 2012. Among other things, the PPSA introduces a comprehensive new registration system for security interests in personal property. This article explains the elements of the PPSA registration system, with particular reference to how it differs from earlier registration systems including the provisions governing registration of company charges in ch 2K of the Corporations Act 2001 (Cth) and the registration requirements in the state and territory bills of sale and motor vehicle securities statutes. The article also explores similarities and differences between the Australian PPSA registration system and the Canadian and New Zealand systems.] CONTENTS I Introduction ............................................................................................................ 866 II Pre-PPSA and PPSA Registration Compared ........................................................ 868 A Introduction ............................................................................................... 868 B U nification ................................................................................................ 868 C C entralisation ............................................................................................ 870 D N otice F iling ............................................................................................. 872 1 O verview ...................................................................................... 872 2 Storage C osts ................................................................................ 873 3 Search C osts ................................................................................. 873 4 P rivacy .......................................................................................... 87 3 5 A dvance R egistration ................................................................... 874 6 B lanket R egistrations .................................................................... 875 E C om puterisation ........................................................................................ 875 F R egistration R enew als ............................................................................... 876 III Searching the R egister ........................................................................................... 877 A Debtor's Name (Grantor Details) Searches and Serial N um ber Searches ...................................................................................... 877 B Grantor's Details Searches - Individual Grantor................... 879 C Grantor's Detail Searches - Corporate Grantor...................... 883 D Serial Number Searches - Consumer Property...................... 884 E Serial Number Searches - Commercial Property ................... 885 F Restrictions on Access to the Register ...................................................... 886 G Follow -U p Inquiries .................................................................................. 886 IV Registering a Financing Statement ........................................................................ 888 A The Mechanics of Registration ................................................................. 888 1 The R egistration Process .............................................................. 888 2 Financing Statement Contents ...................................................... 889 3 The Collateral D escription ........................................................... 890 BA, LLB (Hons) (Melb), LLM (Toronto), LLD (Melb); Honourable Frank lacobucci Chair in Capital Markets Regulation, Faculty of Law, University of Toronto; Professorial Fellow, Mel- bourne Law School, The University of Melbourne. My thanks to David Brown, John Stumbles and two anonymous referees for helpful comments. 865

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