On 30 January 2012, a new national scheme governing all types of security interests over personal property will start.
To facilitate the transition from Queensland’s Register of Encumbered Vehicles (REVS), Bills of Sale Register and Register of Cooperative Charges to the new national Personal Property Securities Register (PPSR), Queensland’s registers will close at 5pm AEST on Friday, 27 January 2012. Paper applications will close at 5pm AEST on Wednesday, 25 January 2012.
Once the Queensland registers close, you will be unable to register or modify a security interest until the PPSR commences on Monday, 30 January 2012. This weekend of down-time will be used to ensure all security interests held on Queensland’s existing registers are migrated across to the new national PPSR. You will still be able to conduct searches of the registers over this weekend.
For more information, visit the PPSR page at www.ppsr.gov.au.