The Personal Property Securities Register (PPSR) is the national online register of security interests in personal property, established under the Personal Property Securities Act 2009 (Cth). It's the definitive Australian record of which lender has registered a security interest over which non-land asset.
Lenders search the PPSR before lending to identify existing security interests over the borrower's assets, a key part of due diligence on any commercial file. Lenders register their own security interests on the PPSR after settlement to perfect their priority.
PPSR registration determines priority by date and time. A lender who registers earlier generally has priority over a lender who registers later in respect of the same asset (with some exceptions for purchase money security interests and registered intellectual property).
For Archer Wealth files, PPSR registration is part of standard settlement on commercial and development loans where a GSA forms part of the security package. The PPSR search at submission is one of the first checks the credit team runs on a new commercial file.