Three months have passed since the registration commencement
time of the Personal Properties Securities Act 2009 (Cth)
(PPSA). Most issues with migration have been
identified, but secured parties must be aware that the solutions to
these issues will take time. This article is an update on the
progress made by the Registrar of Personal Property Securities
(Registrar) in resolving the issues, as well as a
reminder of certain things secured parties should be aware of as
they adjust to this new process of registering securities and the
PPSA.
As easy as ABC... or is it?
The Registrar is in the process of switching the 900,000 ASIC
registrations migrated according to the grantor's ABN over to
the grantor's ACN. A schedule has been released setting the
date of completion at 11 May 2012. The 16 April 2012 update by the
the Registrar suggests that verification statements will be
generated for each registration changed. The Registrar proposes
that a publication in
