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Registering security over co-operative assets 

Formerly, co-operatives or co-operative housing societies giving security over any assets (excluding land) were required to lodge the security with Registry Services to be recorded in the Register of charges.

As of 30 January 2012, securities must be lodged with the new national register – the Personal Property Securities Register (PPSR).

The process for lodging a charge or security has changed with  the secured party or lender now generally responsible for lodgement. Further information on the PPSR can be found at www.ppsr.gov.au

How does this affect existing security interests or charges?

There is no change or loss of priority to registered charges as a result of the transfer to the new national register.

In preparation for the transfer, the Registry closed the Register of charges on 20 January 2012. Any new charges or variations to charges received after this date will be returned and should be lodged with the PPSR.

The Registry will retain existing records and documents lodged up to the point of closure on 20 January 2012. These documents will be available for searching as historical records for a period of seven years after this date.

PPSR contact details

The PPSR is being managed by the Insolvency and Trustee Service Australia (ITSA) following appointment to this role by the Australian Attorney-General’s Department.

Co-operatives and co-operative housing societies wishing to lodge a new charge or vary or discharge an existing charge after 30 January 2012 should contact the ITSA National Service Centre by:

ITSA National Service Centre
Phone: 130000PPSR (1300 007777)
Email: enquiries@ppsr.gov.au
Visit: www.ppsr.gov.au
Post: GPO Box 1944, Adelaide, South Australia, 5000

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