This then gives the secured party an incentive to register its security interest in the PPSR, even if it also registers in the relevant intellectual property register.
The Australian PPSA From a Canadian Perspective: Some Comparative Refl ections 61 II THE AUSTRALIAN NATIONAL SCHEME The Australian PPSA is a federal statute supported by a national Personal Property Securities Register (PPSR).
Regulations have only been promulgated in respect of section 45 of Part 2.5, and then only in respect of motor vehicles: PPSR regs 2.1, 2.2. 74 PPSA s 44.
Requiring the registration of transfers of loan receivables on the PPSR is an unnecessary level of red tape and cost in a secondary loans market which has developed and operates very well domestically and globally without it.
The PPSR allows creditors to view the number of security interests granted in a particular piece of personal property, as well as making it easier for creditors to take possession of property when a borrower defaults.