Document Actions

Secured party obligations

 

The Personal Property Securities Act 1999 imposes a number of obligations on secured parties.

Here we describe some of the most important obligations:

  • Keep a record of your PPSR passwords, financing statement registration numbers and PINs.  Read more...
  • To keep your registered financing statements up to date with all information you are aware of.  Read more...
  • To apply the debtor name rules when entering debtor's details on a financing statement.  Read more...
  • To supply debtors with a copy of the verification statement within 15 working days unless the debtor waives, in writing, the right to receive one.  Read more...
  • Ensure your financing statement is supported by an appropriate security agreement. Registration of a financing statement does not replace the need for, or function of, the underlying security agreement.
    • A security agreement is the agreement which grants the security interest. In most cases this will be a written agreement, signed by the debtor but can include an oral agreement.
    • A financing statement is the information the secured party enters on the PPSR to register the security interest.

 

Last updated 30 June 2009

Resources

Tools for secured parties

Log on now

Secured Party Tools
   Learn more...

 

Tutorials and demonstrations

Tutorials

Animated demonstrations