Expired financing statements

Financing statements are registered for a maximum period of five years. 

Unless renewed, a financing statement will expire at the end of the original term of registration. 

 FAQs

What happens when a financing statement expires?

When a financing statement expires, the Personal Property Securities Register (PPSR) will send a notice to the Secured Party Group.   No advance notice is given that a financing statement is due to expire so by the time you receive a notice of financing statement expiry, the financing statement’s registration will already have expired.

Failure to renew a financing statement may affect any priority you have over the collateral. 

Once expired, the only way to search for a financing statement is to conduct a financing statement number search.  Only current registered financing statements are searchable using the other search options.

How can I tell when my financing statements are due to expire?

To help keep track of when your registered financing statements are due to expire you can create reports on the PPSR for free.

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Can I re-instate an expired financing statement?

Expired financing statements cannot be reinstated unless ordered by the High Court.  If the debtor has not performed all their obligations (e.g. money owed has not be repaid) you may wish to seek your own independent legal advice on your best course of action. 

You could also consider registering a new financing statement but the registration date will be the date the new financing statement is registered not an earlier date.  If there are financing statements registered ahead of your new registration, they may have higher priority.  Again you should seek your own independent legal advice to help you decide on the best action to take.

Note: Under S169A of the Act, the Registrar may restore a financing statement if it appears to the Registrar that, due to a clerical error made by the Registrar, the registration has been incorrectly discharged or removed. A financing statement that has been re-instated will have “re-instatement” shown in its history.

 Learn about renewing a financing statement.