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If you have a security interest registered on the Personal Property Securities Register (PPSR), it is important to monitor your registration to ensure that it does not lapse. According to the Australian Financial Security Authority (AFSA), the most common registration period for a security interest is seven years. The 30th January was the 7-year anniversary of the inception of the PPSR, which means that we will start to see some of these seven year registrations begin to expire. If you have registered a security interest on the PPSR, it is a good idea to request a “Registrations Due to Expire Report” and check the status of your registrations, or you could risk your registration lapsing and losing your security. This free report can be accessed from the PPSR website at https://www.ppsr.gov.au/registrations-due-expire-report.
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