News from the PPSR
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Do you know what’s registered against your business on the PPSR?
Are you a business looking to access finance or credit? Lenders will search the PPSR as part of their credit check process for loans and other finance – but do you know what’s registered against your business?
PPSR registrations might appear if your business has received goods via trade credit, has used business assets as security for a loan and more.
Our new guide provides information about how to search for your business on the PPSR, as well as some general definitions of key terms you may notice in your search results.
To read the guide, or access any of our other resources for small business, visit ppsr.gov.au/business-resources.
To complete a $2 organisation grantor search, click here.
Helpful HintMany businesses are adjusting their long-term work practices in response to the pandemic. It’s important to maintain good security practices, even if staff have returned to the office or are still working from home. Simple rules like not sharing usernames or passwords, and providing or restricting access as employee roles change, can help to protect the security of your PPSR account. More information about managing the security of your PPSR registrations, including how to implement system administration rights, is available in our Responsible PPSR Registration Management Guide. For more information about cyber security see cyber.gov.au. |
Resources for advisors: Insolvency appointments and the PPSR
On 1 January 2021, a series of insolvency law changes made by the Australian Government in response to the COVID-19 pandemic were rolled back – changing the insolvency protections available to businesses facing economic difficulties.
Your clients may find that their customers are defaulting or declaring insolvency. If your clients have registered security interests on the PPSR, they are able to get their goods or their value back in the event of a downturn.
Our two factsheets provide more information:
- Your customer has gone broke – what happens now? explains the steps a business needs to take to get its goods, or their value, back if their customer has gone out of business.
- Your customer has defaulted on your security agreement – what happens now? provides practical information and steps a business needs to follow to enforce their security interest.
For those clients that are not yet registering their security interests on the PPSR, it can help protect businesses and allow them better access to get their goods or value back in the event of an insolvency. Our guide, Trying to get your invoices paid, has further information about the PPSR and its benefits.
These guides are available to download from the PPSR website at ppsr.gov.au/business-resources.
