Secured party groups (SPG)
Secured Party Groups are a central identity within the PPSR. They are essentially the creditor, lender or person taking a security interest over certain collateral. A secured party creates a Secured Party Group (SPG) to represent itself on the PPSR the first time it accesses the PPSR. After this initial Secured Party Group registration, all financing statements are registered against that Secured Party Group.
- Each Secured Party Group is identified by way of a Secured Party Group ID (SPG ID) and password. The Secured Party Group ID and password are critical pieces of information that must be kept confidential. Secured Party Groups can change their password online at any time.
- Secured Party Groups may consist of one or more secured parties, either people or organisations.
- Each member of the Secured Party Group must have an email address.
- Where a secured party is an organisation, they must nominate a person to act on their behalf. This may be a person's name or their job title. The person acting on behalf of a secured party organisation must also have an email address.
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To search or register on the PPSR you must have a User ID and password. To register on the PPSR you must also register as a Secured Party Group (SPG).
Once you have registered a Secured Party Group (SPG) on the PPSR, there are a range of maintenance options available designed to both keep the register current and streamline the way you use the PPSR.
From time to time it may be necessary to transfer one or more financing statements from one Secured Party Group to another.