PPSR GLOSSARY1. ABN (Australian Business Number)

The ABN is an identifying number used when dealing with government agencies (including the Australian Taxation Office) and other businesses.

See the Australian Business Register website for more information about ABNs.

Related terms:

organisational identifier

2. access channel

This refers to the different channels available to access the PPSR website (www.ppsr.gov.au) and via the Personal Property Securities Service (1300 00 PPSR, enquiries@ppsr.gov.au).

3. access code

The access code for the secured party group (SPG) is similar to a password. It can be used to access registrations belonging to the SPG, and to access the SPG's workbench.

4. account

This refers to the account that is created prior to transacting on the PPSR. Creating an account is quick, no fee is required and there are a number of benefits (for example, to create reports). An account is required if you need to create a Secured Party Group or a registration. An account is not required to search the PPSR.

Related terms:

account customer

5. account administrator

The account administrator, also referred to as the account system administrator, is the person who may manage users within an account for a PPS Register account customer. The account administrator has wide ranging roles and permissions to be able to make updates and changes to the account, including but not limited to:

o create users

o modify users

o resetting passwords

o unlocking users

o grant permissions (what transactions the user can perform), and

o remove users.

6. account customer

An account customer is a person or entity that has an account with the PPSR and is authenticated (logged in) to use the PPSR.

While it is not necessary to become an account customer to search the PPSR, an account is required if you need to create a Secured Party Group or a registration. There are benefits to being an account customer, including but not limited to:

o being able to see all transaction usage and obtain full transaction listing of their account

o being able to add multiple users to the account (delegated user management), and

o use approval functions for reviewing and approving pending registration applications.

7. ACN (Australian Company Number)

The ACN is a unique identifier and no two companies can have the same ACN.

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See the Australian Securities and Investments Commission website for more information about the ACN.

8. AFSA

Australian Financial Security Authority (AFSA)

9. agriculture

As a collateral class, includes crops and livestock.

Related terms:

crops, livestock

10. aircraft

As a collateral class, includes:

a machine or craft that can travel in the air and has a nationality and registration mark an aircraft engine an airframe, or a helicopter.

Related terms:

small aircraft, aircraft engine, airframe , helicopter

11. aircraft engine

Aircraft engine means engines (other than those used in military, customs or police services), powered by jet propulsion or turbine or piston technology, and:

in the case of jet propulsion aircraft engines, have at least 1750 lb of thrust or its equivalent, and in the case of turbine-powered or piston-powered aircraft engines, have at least 550 rated take-off shaft

horsepower or its equivalent,

together with all modules and other installed, incorporated or attached accessories, parts and equipment.

See definition of aircraft engine' in the PPS Regulations.

Aircraft that is further described as aircraft engine must be described by serial number in a registration. The serial number for aircraft engine comprise of:

o the engine's manufacturer's number; that is, the serial number attached to the engine by the manufacturer

o the manufacturer's name, and

o the manufacturer's generic model description.

airframe

Airframe means airframe (other than those used in military, customs or police services) that, when appropriate aircraft engines are installed thereon, are certified by a competent aviation authority (in Australia, this is the Civil Aviation Safety Authority) to transport:

o at least eight (8) persons including crew, or

o goods in excess of 2750 kg,

together with all modules and other installed, incorporated or attached accessories, parts and equipment and data manuals.

See definition of 'airframe' in the PPS Regulations.

Aircraft that is further described as airframe must be described by serial number in a registration. The serial number for aircraft engine comprise of:

o the airframe's manufacturer's number, that is, the serial number attached to the airframe by the manufacturer

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o the manufacturer's name, and

o the manufacturer's generic model description.

all present and after-acquired property (ALLPAAP)

The term 'all present and after-acquired property' (abbreviated to 'ALLPAAP') means:

9. personal property over which the grantor has an interest at the time the registration is made on the PPS Register, and

10. personal property acquired after the registration is made on the PPS Register.

all present and after-acquired property, except (ALLPAAP, except)

The term 'all present and after-acquired property, except' (abbreviated to 'ALLPAAP, except') means all present and after-acquired property, except for an item or class of personal property stated in the registration as being exempt.

12. Amendment demand

A demand in writing, from a person with an interest in the collateral, requesting the secured party to amend the collateral registration. This is sometimes referred to as a change demand.

13. ARBN (Australian Registered Body Number)

ARBNs are issued to registrable Australian bodies and foreign companies. The ARBN is a unique identifier and no two bodies can have the same ARBN.

See the Australian Securities Investments Commission (ASIC) website for more information about the ARBN.

14. ARSN (Australian Registered Scheme Number)

ARSNs are issued to Managed Investment Schemes. The ARSN is a unique identifier and no two bodies can have the same ARSN.

See the Australian Securities Investments Commission (ASIC) website for more information about the ARSN.

15. ASIC

Australian Securities and Investments Commission

See the Australian Securities Investments Commission (ASIC) website for more information.

16. attachment

Attachment refers to:

the successful creation of a security interest in property that can be enforced against that property or a document which further describes the collateral that is uploaded as part of a registration.

17. Australian Business Register

A register of information provided to the Australian Taxation Office by businesses and other entities when registering for an ABN.

Publicly available information on entities with an ABN is available publicly from the ABN Lookup website.

18. authorised search purpose

The PPS Register can be searched using either

the serial number of the collateral (for example, the VIN of a motor vehicle), or the details of the grantor.

Where a search is undertaken against an individual grantor, the PPS Act requires that the search must be undertaken by a person with an authorised purpose (as set out in section 172 of the PPS Act).

19. B2G account customer location

The range of IP addresses from which the B2G account customer interacts with the PPS Register.3

20. bailment

A bailment for which the bailee provides value may, in certain circumstances, give rise to a PPS lease. There is no definition of bailment in the PPS Act. Generally a bailment occurs when a bailee voluntarily receives possession but not ownership of goods from a bailor who retains the right to receive the goods back when the bailment comes to an end. For more information refer to the Leases and Bailment under the Personal Property Securities Act 2009 fact sheet.

Related terms:

PPS lease

21. billing account

For account customers, PPS Register transaction charges can be billed to an account and a monthly account statement will be issued.

22. business to government (B2G)

The channel through which business may transact with the PPS Register.

23. casual user

Casual users access or use the PPS Register without having created an account. Casual users are often individuals who use the PPS Register on a once-off or casual basis.

24. change number

A unique sequential number that is allocated for certain transactions relating to a registration, including creation, amendment or discharge.

25. change type

This is the type of change that generates a change number for a registration.

For non-registration events this is the type of change performed on the register.

26. chassis number

For a motor vehicle, the series of numbers/letters that are attached or stamped on the vehicle's chassis by the vehicle manufacturer to uniquely identify the vehicle.

27. chattel paper

A writing which evidences both a monetary obligation and a security interest in, or lease of, specific goods; for example, a hire-purchase agreement. It would not include a negotiable instrument, an investment instrument, an investment entitlement or a document of title.

28. Chicago Convention

The Convention on International Civil Aviation signed on 7 December 1944 in Chicago. The Chicago Convention establishes rules on the allocation of nationality and registration marks for aircrafts.

Under this Convention, Australia is assigned the nationality mark 'VH'. An example of a nationality and registration mark for an Australian aircraft is 'VH-WOV'.

29. circuit layout

Circuit layout refers to the original layout designs for integrated circuits and computer chips. Circuit layout rights are intangible personal property.

30. circulating asset

For the purposes of Part 9.5, has the meaning given in section 340 of the PPS Act.

31. collateral

Personal property that is the subject of a security interest. By way of example, the motor vehicle that is provided as security for the loan given by a bank to finance its purchase.

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32. collateral class

The following classes of collateral are prescribed in the PPS Regulations:

o agriculture

o aircraft

o all present and after-acquired property

o all present and after-acquired property, except

o financial property

o intangible property

o motor vehicles

o other goods, and

o watercraft.

Each registration must only relate to a single collateral class.

33. collateral description

The description of the collateral being registered on the PPS Register.

34. collateral registration

A registration of a financing statement on the PPS Register. In addition to details about the collateral, the registration also includes:

o details about the grantor (where relevant), or secured party

o details about the address for service (address to which correspondence relating to the registration must be sent)

o giving of notice identifier (see 'giving of notice identifier'), and

o details about the security interest (for example, whether it is a purchase money security interest or whether it is subordinate to another interest).

35. collateral registration identifier

A unique identification number allocated by the system to a collateral registration at the time of registration.

36. commercial property

Personal property that is held in the course or furtherance, to any degree, of carrying on an enterprise. It does not include consumer property – see 'consumer property'.

See definition of 'commercial property' in section 10 of the PPS Act.

37. conditions of use

Every user of the PPS Register must agree and adhere to the conditions of use when using the PPS Register or data obtained from the PPS Register.

38. consumer property

Any personal property held by an individual, other than personal property held in the course or furtherance, to any degree, of carrying on an enterprise to which an ABN has been allocated.

See definition for 'consumer property' in section 10 of the PPS Act.

39. contact centre

See National Service Centre (NSC)

40. control

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Control is one way of perfecting a security interest in controllable property.

See definition for 'control' in section 10 of the PPS Act.

41. copyright

Copyright is a type of legal protection for ideas and information in certain forms. The most common forms are: writings, visual images, music and moving images. Copyright is intangible personal property.

42. crops

This refers to crops (whether matured or not and whether naturally grown or planted) that have not been harvested.

Examples of crops include:

the products of agriculture or aquaculture, if the products have not been harvested, and trees (but only if they are personal property), if the trees have not been harvested.

43. currency

Currency that is used as a medium of exchange in Australia or any other country.

44. debtor

A debtor is:

a person who owes payment or performance of an obligation that is secured by a security interest in personal property, or

a transferee of, or successor to, an obligation mentioned in paragraph (a).

45. design

Design relates to the features of shape, configuration, pattern or ornamentation which, when applied to a product, gives the product a unique appearance. Design is intangible personal property.

46. discharged registration

A registration that has passed its expiry date or has been removed from the PPS Register.

47. duration

The length of time of a registration from the start time to the end time.

48. end date

The end date of a registration. This is the date at which the registration expires.

Expiry will occur at the last moment of the nominated end date (that is, at 23:59:59 on the end date).

49. FAQ (frequently asked questions)

Frequently asked question. FAQs are questions and answers on frequently asked topics.

50. financial property

As a collateral class, includes chattel paper, currency, documents of title, investment instruments, negotiable instruments, and investment entitlements.

51. financing change statement

The data amending a registered financing statement.

52. financing statement

The data registered pursuant to an application for a registration.

53. free access period

The period in which a search result may be accessed without payment of a further fee.

54. giving of notice identifier

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The giving of notice identifier is the reference number or text that is used to identify, or to provide more information, about the registration.

As a secured party you can choose to enter a giving of notice identifier on a PPSR registration which identifies a record of the registration for your secured party.

The giving of notice identifier, where it exists, must be included in correspondence to the secured party relating to that registration.

55. goods

Goods means tangible personal property, including:

crops livestock wool extracted minerals, and satellites and other space objects

but does not include financial property or an intermediated security.

56. grantor

An individual or an organisation who owns or has an interest in the personal property to which a security interest is attached.

A grantor includes an individual or an organisation who receives goods under a commercial consignment, a lessee under a PPS lease, and a transferor of an account or chattel paper.

57. grantor identification

Grantor identification or identifier refers to the details that are used to identify the grantor in a registration.

The rules for grantor identification are set out in the PPS Regulations.

In brief, the Regulations provide that where the grantor is an individual, the identifiers are to be sourced from the documents in this order:

o the current driver's licence issued by an Australian state or territory

o proof of age card issued by an Australian state or territory

o Australian passport

o Australian visa

o passport from country grantor usually resides, or

o details on birth certificate.

If the grantor is an organisation, different rules apply depending on whether the grantor is a body corporate, a partnership, trustee of a trust, or a body politic.

See the PPS Regulations for more information on the grantor identification rules

58. groups

'Groups', in relation to transactions that can be undertaken on the PPS Register by a user, refers to the logical grouping of roles for an account customer or internal organisation.

In relation to groups of secured parties, see SPG (secured party group).

Related terms:

secured party group/s, roles, permissions

59. helicopter

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Helicopter means machines (other than those used in military, customs or police services) lifted by power-driven rotors and which are certified by a competent authority (in Australia this is the Civil Aviation Safety Authority) to transport:

o at least five persons including crew, or

o goods in excess of 450 kg.

See definition of 'helicopter' in the Regulations.

Aircraft that is further described as helicopter must be described by serial number in a registration. The serial number for helicopter comprises:

o the helicopter's manufacturer's number; that is, the serial number attached to the helicopter by the manufacturer

o the manufacturer's name, and

o the manufacturer's generic model description.

60. HIN (Hull Identification Number)

A HIN is the nautical equivalent of the VIN (Vehicle Identification Number) on your car.

It is a unique identifier of 14 characters and numbers for a boat allocated by a registration authority of a state or territory or other authorised persons. (e.g. AU-TRX 48119 H765)

61. identifier type

This is the type of identifier used for organisations (both grantors and secured parties), which includes ARSN, ACN, ARBN, and ABN.

62. intangible property

Intangible property, for the PPS Act and the PPS Register, means personal property that is not any of the following:

o financial property

o goods, or

o an intermediated security (see 'intermediated security').

See definition of 'intangible property' under section 10 of the PPS Act.

63. intellectual property (IP)

As a collateral class, includes rights in a design, patent, trade mark, copyright or circuit layout, or plant breeder's rights.

See definition of 'intellectual property' under section 10 of the PPS Act.

64. interest

In relation to personal property, includes a right in the personal property.

65. interested party

Any individual or business entity that is interested in a specific collateral registration and/or information held on the PPS Register.

66. internal organisation

The Registrar or the Personal Property Securities Service.

67. inventory

Personal property used in the ordinary course of business by an entity with an ABN, including:

o property held for sale, or lease

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o property held to be provided under a contract for services

o property held as raw materials or as work in progress, and

o property used or consumed as materials.

See definition of 'inventory' under section 10 of the PPS Act.

68. investment instrument

Refers to certain financial products, including:

o a share in the body, or a debenture in a body

o a derivative

o a foreign exchange contract that is not a derivative

o an interest in, or a unit in an interest in, a managed investment scheme

o a unity in a share in a body, and

o a financial product traded on the financial market that is operated in accordance with an Australian market licence or exempt from the operation of Part 7.2 of the Corporations Act 2001;

but does not include:

o the creation or transfer of a right to payment in connection with interest in land (where the written evidence of the transfer does not specifically identify the land)

o a document of title

o an intermediated security, and

o a negotiable instrument.

See definition of 'investment instrument' under section 10 of the PPS Act.

69. IP Australia

IP Australia administers the Australian IP rights system, specifically patents, trade marks, designs and plant breeder's rights. See the IP Australia website for more information.

70. key contact

The key contact for a PPS Register account customer is the person who will be contacted if there are problems with the account.

Key contact details are not made available to the public

71. livestock

Livestock includes:

while they are alive – alpacas, cattle, fish, goats, horses, llamas, ostriches, poultry, sheep, swine and other animals

the unborn young of animals mentioned in paragraph (a), and

the products of livestock before they become proceeds (for example, the wool on a sheep's back before the sheep is shorn).

72. manufacturer's number

The unique identifying numbers/letters that are stamped or attached to an aircraft or motor vehicle by its manufacturer.

73. method of payment

Fees are charged for some transactions undertaken on the PPS Register.

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Methods of payment include:

o pay-as-you-go (fees paid by credit card as they are incurred – this is the default method)

o pre-payment (users credit money into their account, and this account is drawn down as transactions are being undertaken)

o invoicing (the account customer is sent an invoice for transactions undertaken during the invoice period).

Account customers may apply to the PPS Registrar's Office to use a different payment method (other than pay-as-you-go or pre-pay) for their account.

74. migrated security interest

Security interests that have previously been registered in a transitional register prior to PPS Register registration commencement time, and which have been migrated to the PPS Register.

See definition for 'migrated security interest' in section 332 of the PPS Act.

75. migration time

The time at which data from transitional registers (registers of security interests in existence prior to the PPS registration commencement time, such as the ASIC charges register and state and territory registers of encumbered vehicles) are migrated to the PPS Register.

76. motor vehicle

A car, truck, motor bike, tractor, trailer, caravan or other property that:

has one or more motors with total power greater than 200 W or capable of propelling the property to speeds of at least 10km/h, or

is capable, when being towed or attached to a motor vehicle, of travelling at a speed greater than 10 km/h

and which has a vehicle identification number, a chassis number, or a manufacturer's number.

Starting on 1 July 2014, an amendment to sub-regulation 1.7(2) of the Personal Property Securities Regulations 2010 will narrow the definition of motor vehicle for the purposes of the PPS Act. The definition will apply to security interests (including PPS Leases) entered into on or after 1 July 2014. This will normally include, for example, leases entered into on or after 1 July 2014 even if they involve terms established under an earlier general agreement with a lessor.

Property is a motor vehicle under the PPS Act if it is built to be propelled wholly on land by a motor that forms part of it (but not if it runs on rails, tram lines or other fixed path), has a unique serial number and:

o up to the end of 30 June 2014 (the old definition) is also capable of travelling at more than 10km/hr OR has a total motor power greater than 200W.

o starting on 1 July 2014 (the new definition) the property is also capable of travelling at more than 10km/hr AND has a total motor power greater than 200W.

Regulation 1.7(3) will not change, so some types of property with a serial number and wheels that are built to be towed at more than 10km/h will still be a motor vehicle. Examples include caravans and trailers.

multi user account

Multi user accounts are PPS Register accounts that can have more than one user. The account administrator for such an account can create multiple users that can transact on behalf of the account.

77. National Names Index

The National Names Index (NNI) is an index of Australian corporate and registered business names and some incorporated associations. It is administered by the Australian Securities and Investments Commission.

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To search the NNI, go to the ASIC Searches and Lodgements web page or for more information about the NNI, see the Australian Securities and Investments Commission website.

78. National Service Centre (NSC)

The National Service Centre (NSC) supports the PPS Registrar by receiving and transmitting requests and correspondence by telephone, faxes, mail and email. The NSC provides access to the PPSR for users who cannot easily access the PPSR via the internet.

It also provides a help desk function for users of the PPSR.

Related terms:

Contact us

79. nationality and registration mark

For an aircraft, this means the series of numbers and/or letters that are assigned to the aircraft under the Chicago Convention.

The nationality mark for an Australian aircraft is 'VH', followed by a hyphen and registration mark of three characters.

80. negotiable instrument

Generally includes:

o bills of exchange

o promissory notes

o letters of credit that must be presented to claim payment, and

o writings that evidence a right to payment of money that is ordinarily transferred by delivery with an endorsement or assignment.

The right given under a negotiable instrument is personal property.

See definition of 'negotiable instrument' under section 10 of the PPS Act.

81. NEVDIS

National Exchange of Vehicle and Driver Information System.

NEVDIS is a national database of all registered vehicles in Australia and NEVDIS data is provided by state or territory registers.

The PPSR interfaces with NEVDIS to provide additional information on motor vehicles when registrations are made against motor vehicles as collateral, and when motor vehicle searches are conducted.

The PPSR does not store or maintain NEVDIS data. State and territory road agencies are the source of NEVDIS data and the primary point of contact for enquiries, errors and corrections.

82. official number

In relation to a ship or watercraft, means the six digit serial number (e.g. 345678) allocated to the ship or watercraft by the Australian Shipping Registration Office to Australian registered ships via Australian Maritime Safety Authority (AMSA).

See the AMSA website for more information about the official number of a ship or watercraft.

83. ordinal search

An ordinal search allows users to compare two registration events (start time, change number, end time).

84. organisational identifier

The organisation identifier is the name or number that identifies the organisation.

This can include the name, ACN, ABN, ARBN, or ARSN allocated to an organisation.

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It is important to ensure that the correct organisation identifier is included in the registration (incorrect identifiers for grantors may lead to the registration being ineffective). The identifier rules are contained in the PPS Regulations.

Related terms:

ACN (Australian Company Number) , ABN (Australian Business Number), ARBN (Australian Registered Body Number) , ARSN (Australian Registered Scheme Number)

85. original registration time

For migrated registrations, this means the time at which the registration that is migrated was first registered on the transitional register.

Example:

A mortgage for a motor vehicle was registered on the Register of Encumbered Vehicles on 1 July 2008. This registration was migrated to the PPS Register. The original registration time shown on PPS Register for this migrated registration will be 1 July 2008.

86. other goods

'Other goods' is a collateral class and means personal property that is goods, other than agriculture, aircraft, motor vehicles and watercraft.

Example:

Bank X has a security interest over ABC Ltd's space satellite. A space satellite is a tangible property (ie goods) but is not agriculture, aircraft, motor vehicle or watercraft. It is therefore assigned the collateral class 'other good' in the registration.

87. outboard motor

outboard motor means an engine that:

has a propeller and a manufacturer's number,

is designed to be attached to a boat or vessel, and

is intended for use to propel a boat or vessel.

Outboard motors generally belong to the collateral class 'other goods'.

88. patent

A patent is a right granted for any device, substance, method or process which is new, inventive and useful. A patent is intangible personal property.

89. PBR (Plant Breeder's Rights)

PBRs are exclusive commercial rights to a registered variety of plants. PBRs are a form of intellectual property and are administered under the Plant Breeder's Rights Act 1994 (Cth). PBR is intangible personal property. The Plant Breeder's Rights Act is available on the Comlaw website.

90. PCT (Patent Cooperation Treaty) number

Patent Cooperation Treaty number. An international patent application number issued under the Patent Cooperation Treaty. See the IP Australia website for more information about the PCT number.

91. pending application

New registration applications that are incomplete can be saved as pending. A pending application has no legal status and is not shown publicly on the PPS Register.

The PPS Register allocates a number to the pending application and the application can be accessed by entering in this pending application number.

Pending applications are deleted after a set period. No records will be kept of deleted pending applications.

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92. pending application period

The period of time before which pending applications are deleted.

93. perfection

Perfection of a security interest gives it priority over unperfected security interests in the collateral. A security interest may be perfected by registration, possession, or control. In certain circumstances, a security interest may only be temporarily perfected.

94. permissions

Permissions, in relation to transactions on the PPS Register, refers to the ability to undertake tasks or transaction on the PPS Register.

Each permissible action in the PPS Register should have at least one corresponding permission to authorise it. For example, the details of a registration can be retrieved, provided the corresponding registration token is supplied.

Permissions are not directly assigned to a user of the PPS Register. Roles are formulated from a conglomeration of permissions. All actions that a user can take are authorised through the appropriately assigned groups of roles.

Related terms:

roles, groups

95. personal property

Any form of property, other than land or a right or entitlement under a Commonwealth, state or territory law that declares that the right or entitlement is not personal property for the purposes of the PPS Act.

96. PMSI (purchase money security interest)

A PMSI is a security interest in collateral created by a seller who secures the obligation to pay the purchase price, or a person who provides the value to purchase the personal property. A PMSI can also be the interest of a lessor or bailor under a PPS lease or the interest of a consignor who delivers property under a commercial consignment. Section 14 of the PPS Act provides the full definition of this term.

97. PPS

Personal properties securities

98. PPS Act 2009

The Personal Property Securities Act 2009 (Cth), as amended from time to time. See the ComLaw website to view the legislation.

99. PPS lease

A lease or bailment for an indefinite period or for more than one year.

100. PPS Register

Personal Property Securities Register. A real-time online register where data in respect of security interests, as well as certain prescribed personal property are registered. The PPS Register acts as a noticeboard rather than as a definitive record of security interests in personal property. It is not a register of title or ownership of personal property.

101. PPS Register administrator

A user who has been specifically granted the authority to manage some or all of the system, and may have special privileges to override portions of the system.

102. PPS Regulations

The PPS Regulations are part of the legislation and provide the rules to administer it. Visit the ComLaw website to view the PPS Regulations.

103. priority

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The order in which interests in property are enforced. Priority is usually determined by the time of creation of the interest, and earlier interest prevailing over a later interest. Division 3 of Part 2.6 of the PPS Act outlines the rules governing the priority of security interests.

104. Privacy Act

Legislation that protects individuals from the unauthorised collection, storage, use and disclosure of information about themselves and the possible compromises resulting from unauthorised release of that information. The PPS Act states that an unauthorised search may contravene the Privacy Act 1988 .

105. proceeds

The identifiable or traceable personal property derived directly, or indirectly, from dealing with collateral or the proceeds of collateral. An example of proceeds is money received on sale of the collateral.

106. registered users

PPS Register users who have completed a registration process and received a user ID and set a password. A registered user logs on (authenticates) to the PPS Register using their user ID and password. All account customer users and internal users will be registered users.

107. Registrar

The Registrar of Personal Property Securities appointed in accordance with the Act and the staff who work in the Registrar's Office.

108. Registration

A registered financing statement (as amended from time to time) with respect to a security interest or personal property as prescribed.

109. registration commencement time

The time the PPS Register began operation: the start (00:00:00 Canberra time) of 30 January 2012.

110. registration end time / registration end date

The date on which the registration will end. For non-consumer property, there may be no stated end time or the end time may be up to 25 years after registration. In the case of consumer or serial numbered property, the end time may be up to seven years after registration.

111. Registration events

The registration of a financing statement or a financing change statement with respect to a security interest (includes discharge of a registration). A registration event will ordinarily generate a verification statement.

112. registration kind

The PPS Register contains mostly registrations over personal property that is subject to a security interest. However, there will also be other 'kinds' of registrations.

The registration kinds on the PPS Register include:

o security interest

o proceeds of crime

o hoon lien

o court order, and

o other prescribed property (see the 'giving of notice identifier' details for information about why the property is being registered on the PPS Register).

113. registration number

The registration number is provided to a user once a registration has been successfully made. The registration number will need to be supplied in order to amend a registration.

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114. registration states

A registration can be in one of the following states:

o current

o expired

o removed, or

o archived

115. Regulations

The Regulations made under the PPS Act 2009. The PPS Regulations are available on the Comlaw website.

116. retention of title

Retention of title refers to the types of clauses that may be included in contracts where a purchaser may take possession of property, but does not acquire title to the property from the seller until the full purchase price is paid

117. roles

Roles are sets of permissions that can be applied to individual users. Users can take on more than one role. The PPS Register will have a range of roles that can be assigned to authenticated users (those users that have a security account by registering as a user) and for casual users (who are unregistered users and therefore not logged in).

Related terms:

permissions, groups

118. roles based access control (RBAC)

The PPS Register uses the Roles Based Access Control (RBAC) system to ensure that only authorised users can perform certain register transactions. The RBAC model enables you to assign certain groups of roles to certain users.

Related terms:

groups , roles, permissions

119. roleset

A roleset is the default set of roles given to the new account customer.

Related terms:

roles based access control, roles

120. search certificate

If there is no evidence to the contrary, search certificates are proof of the data returned in a search result, and are admissible as evidence in a court or tribunal.

121. search certificate number

A unique number that is assigned to each search certificate issued. Multiple search certificates can be issued for each search number. The search certificate number can be used to reissue a search certificate at a later time.

122. search number

A number that is returned with a search. It identifies the search that was undertaken. The search number can be used to view the search result again at a later time.

123. secured party

The person who holds a security interest in personal property.

124. secured party group number 15

A unique identifier for each secured party group.

125. secured party group/s

Secured party groups are a system construct used in the PPS Register to define secured parties. A secured party group consists of one or more secured parties (either individuals or organisations). It is the secured party group that is assigned to a registration.

126. Secured party identification

Secured party identification or identifier refers to the details that are used to identify the secured party in a registration.The rules for secured party identification are set out in the PPS Regulations.In brief, the Regulations provide that where the secured party is an individual, the identifiers are to be sourced from the documents in this order:

o the current driver's licence issued by an Australian state or territory

o proof of age card issued by an Australian state or territory

o Australian passport

o Australian visa

o passport from country secured party usually resides, or

o details on birth certificate.

Different rules apply depending on whether the secured party is a body corporate, a partnership, trustee of a trust, or a body politic. Fields on the PPSR change according to the identifier selected.Organisation identifiers are the ARSN, ACN, ARBN, ABN or name. It is important that you enter the highest priority identifier according to the organisation type.See the PPS Regulations for more information on the secured party identification rules.

127. security agreement

An agreement or act by which a security interest is provided; or writing evidencing such an agreement or act.

128. security interest

An interest in personal property provided for by a transaction that, in substance, secures payment or performance of an obligation.

129. serial number

In relation to collateral, means a serial number by which the PPS Regulations require, or permit, the collateral to be described in a registration.

The PPS Regulations provide that the following may be described by serial number:

o commercial property that is:

motor vehicle

watercraft, and

certain intangible property (patent, trade mark, plant breeder's right, and design).

The PPS Regulations provide that the following must be described by serial number:

o consumer property that is:

motor vehicle

watercraft

certain intangible property (patent, trade mark, plant breeder's right, and design), and

o aircraft (airframe, aircraft engine, helicopter and small aircraft). commercial property that is:

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aircraft (that is further described as airframe, aircraft engine, helicopter and small aircraft).

130. small aircraft

Means aircraft other than an airframe, aircraft engine or helicopter.

Small aircraft generally includes any machine or craft that can travel in the air and has a nationality and registration mark assigned to it pursuant to the Chicago Convention.

Eg a hot air balloon with nationality and registration mark VH-XXX.

131. subordinate / subordination

A secured party can indicate at registration or subsequently (by using the amend registration function) that a registration is (or is to be) subordinated to any other security interest. See section 61 of the PPS Act for more details.

132. third party

An intermediary or broker who is authorised to conduct transactions on behalf of a secured party.

133. tokens

Each registration is issued with a registration token (or token). A token is used to authorise a user to amend or discharge a registration. A record of the token should be kept safe and made available only to personnel authorised to amend or discharge a registration. There is only one token per registration. If a token is lost or compromised a new token can be requested.

134. trade mark

A trade mark can be a word, phrase, letter, number, sound, smell, shape, logo, picture, aspect of packaging or a combination of these. It can also protect brand names. A trade mark is intangible personal property.

135. transacting on behalf of

'Transacting on behalf of' is when a user transacts on the PPS Register on behalf of another person. Typically this may be done when the Personal Property Securities Service undertakes a PPS Register function on behalf of member of the public who has contacted them.

136. transitional register

Is a register that is held by the officer or agency of the Commonwealth or a state or a territory which contains data which will be migrated to the PPS Register.

137. transitional registration

A registration on the PPS Register in relation to a transitional security interest.

138. transitional security agreement

Means a security agreement that is in force immediately before the registration commencement time and that continues in force after that time.

See section 307 of the PPS Act for the definition of 'transitional security agreement'.

139. transitional security interest

A security interest that arises from a transitional security agreement.

See section 308 of the PPS Act for the definition of 'transitional security interest'.

140. unsupported data

Data in a transitional register that has no corresponding field in a PPS Register registration. If the data provider wishes to include any of this data a facility to do so through the migration process has been allowed for.

This 'unsupported data' can be included in the migration record and it will be stored with the migrated registration in PPS Register as unstructured data.

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141. user

Types of users in the PPS Register include casual users and account customers.

142. vehicle registration number

A series of numbers and/or letters that is assigned to a vehicle by the relevant road traffic authority upon registration of a motor vehicle.

143. verification databases

A database (for example, NEVDIS, ABR & ASIC) against which PPS Register data will be verified.

144. verification reports

A report produced during migration of registrations from transitional registers to the PPS Register. The verification report verifies which registrations were successfully to the PPS Register and those which were not successfully migrated.

145. verification statement

A document confirming the details of a registration on the PPS Register to the SPG's address for service.

Secured parties should ensure that the details on the verification statement received are correct, since certain mistakes will mean that the registration is ineffective.

146. VIN (Vehicle Identification Number)

The VIN is a 17 character unique serial number used to identify a motor vehicle.

If a motor vehicle has a VIN, then a registration or a search for that motor vehicle on the PPS Register should be made against that VIN.

147. VoIP

Voice over Internet Protocol is a protocol optimised for the transmission of voice through the internet or other packet switched networks.

148. watercraft

A watercraft is a boat or vessel (other than a seaplane) that is used, or intended to be used, in navigation by water or for any other purpose on water that has:

a hull identification number, or an official number, within the meaning of the Shipping Registration Regulations 1981, issued by the Registrar

of Ships (within the meaning of the Shipping Registration Act 1981 ).

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