finPOWER and the NZ PPSR
The Personal Property Securities Act 1999 (PPSA) establishes the basis for the Personal Property Securities Register (PPSR). This Act reforms the law relating to security interests in personal property and contains rules for determining the priority between security interests in the same personal property.
The PPSR is a centralised electronic register that will be available for registrations and searching 24 hours a day, 7 days a week. Registrations, amendments, renewals and discharges on the PPSR will happen in real time, ie you register an interest and it will be immediately available for searching.
For more information on the PPSR see our FAQ section
All registrations on the PPSR will have to be filed in electronic form via the internet. There is no non-internet manual filing option available. You must either manually key Financing Statements into the online PPSR web (internet) interface or use the Government-to-Business (G2B) interface.
The PPSR G2B interface is intended for high volume users (although it is suitable for all users) and allows the user's computer to "talk" directly with the PPSR using the internet and XML technologies. This avoids the need for you to have people keying the data into the Financing Statement web form before submitting it for registration.
finPOWER has two key modules for assisting with registering security interests on the PPSR:
For more information see www.ppsr.govt.nz.