Registrar actions under the Personal Property Securities Act
The Personal Property Securities Act 2009 (PPS Act) provides the Registrar of Personal Property Securities with the power to amend and/or remove data on the PPSR, including an entire registration. This may occur as a result of the administrative amendment demand process (Part 5.6); the exercise of the discretion under Part 5.7; or, with respect to migrated data, if the Registrar is satisfied that it was not in the determined class for migration (Part 9.4).
Table 2 shows the number of registrations that were removed or otherwise amended by the Registrar of Personal Property Securities in 2019–20.
Collateral class listed in registration | Section of PPS Act | Applications processed | Registrations amended |
---|---|---|---|
Part 5.6—Amendment demands | Section 181 | 1,459 | 451 |
Section 182 | n.a. | 0 | |
Part 5.7—Removal of data and correction of errors | Section 184 | 108* | 79 |
Section 186 | 121 | 42 | |
Section 188 | 4 | 0 | |
Part 9.4—Transitional application of the PPS Act | Section 334 | n.a. | 1 |
Total | 1,692 | 573 |
* The Registrar may amend data under Part 5.7 at his discretion. Matters that were considered at the Registrar’s own initiative are included in this number.
In 2019–20, the Registrar decided, pursuant to subsection 147(5) of the PPS Act, to refuse access to or otherwise suspend the operation of the PPSR on four occasions.
Table 3 provides the date, time and reason for refusal of access to, or suspension of, the PPSR.
Date | Canberra time | Reason |
---|---|---|
28/09/2019 | 14:00–22:20 | Finance system upgrade |
14/12/2019–15/12/2019 | 14:00–02:00 | Finance system upgrade |
22/02/2020 | 19:00–23:30 | Deployment of code release |
05/04/2020 | 01:30–03:05 | Daylight saving change |
In accordance with subsection 147(6) of the PPS Act and the associated regulations, the Registrar may also refuse access to, or otherwise suspend, the operation of the PPSR with notice for a period not longer than four hours. This power is generally used for scheduled maintenance of the PPSR.
From 1 July 2019 to 30 June 2020, the standing outage period for scheduled maintenance was 9.00 p.m. to 11.59 p.m. on Wednesdays (Canberra time). The scheduled maintenance period did not include the Wednesday falling between 23 December 2019 and 1 January 2020.
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https://www.transparency.gov.au/annual-reports/australian-financial-security-authority/reporting-year/2019-20-42