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For secured parties
A secured party is a person or organisation that holds a security interest for their own, or another's benefit. For example the person or organisation generally lending the money and holding the security interest.
When registering as a Secured Party Group, the secured party must specify certain contact details (an email address and fax number as well as a contact address).
Where the secured party is an organisation, they must also nominate a person to act on their behalf and they will also need to supply contact details (an email address and fax number as well as a contact address).
![[icon] What you need to know.](./medicons/med_icon_needtoknow.gif "[icon] What you need to know.")
What you need to know
You can only register a security interest on the Personal Property Securities Register (PPSR) if there is a valid security agreement between the debtor and the secured party (creditor) which creates a security interest in the personal property.
Security interests can include:
- hire purchase agreements (for example, over a TV)
- long term leases (for example, a lease over a washing machine)
- retention of title (Romalpa) clauses (for example, when a manufacturer supplies goods to a customer and has a term in their invoice that they keep title to the goods until the invoice is paid)
- loans which have personal property as security (for example, a car).
If you are unsure how the Personal Property Securities Act 1999 (PPSA) affects you, we recommend that you seek professional advice.
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You will need a User ID
To search or register on the PPSR you must have a User ID and password. Your User ID and password are required to log on to the PPSR whenever you want to search or register a financing statement.
There is no charge for registering as a user. All services that require a fee are identified by a 'Pay Now' screen so you can decide whether or not to proceed. If you already have a User ID and password with the Companies Office you will be able to use this to access the PPSR. If you need to register as a user, choose the Get User ID option.
Read more about getting a User ID and managing your logon.
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Further information
Secured party obligations
The Personal Property Securities Act 1999 imposes a number of obligations on secured parties. Here we have described some of the most important obligations.
Secured party tools
There are a number of online tools available to secured parties to help ensure the PPSR is set up to work the way that you want it to, and to help you manage your registrations.
Secured party groups (SPG)
To register on the PPSR a secured party must register as a Secured Party Group (SPG).
Financing statements
A financing statement contains information about a security interest. The actual security agreement is not registered on the PPSR, in its place a notice of the agreement is registered as a financing statement.
Searching
A secured party is likely to search the PPSR as part of the processes leading up to entering into a security agreement.
Change demands
A change demand is where a debtor, or other party with an interest in the collateral, demands registration of a financing change statement, to either amend or discharge a financing statement. In response, the secured party needs to decide whether to accept the change demand or to apply for a court order preventing the registration of a change.