The PPS transition period is officially ending on 30 January 2017. This is a critically important date in the calendar for secured creditors with migrated security interests.
Back in 2012 the PPS Registrar migrated security interests from all existing registers on to the PPSR. The vast majority of these registrations were from ASIC and REVS.
The information contained in these registrations was in many cases incomplete or non-compliant with PPS Regulations, leading to the decision that defective registrations would be effective for a transition period - to allow a period of grace for secured creditors to remedy the defects.
What does the end of the transition period mean?
The grace period is scheduled to end on 30 January 2017, so secured creditors who haven't yet acted need to now, or face the risk of their migrated security interests being open to challenge.
How EDX can help
EDX can help secured creditors to become PPS compliant before 30 January 2017. We can:
Call the EDX team member in your state to discuss your requirements, and how we can help you.
|WA, SA & NT
0408 542 100
|VIC & TAS
0417 009 924
0427 917 440
0401 991 817