PPSR data migration issues update September 2012

This  is a note from the PPSR announcements page.

 

ASIC ARBN/ACN fix

Implementation of the ASIC ACN/ABN data fix (known as CR089) was completed in June. This resulted in changes to 885, 238 registrations migrated from the Register of Company Charges, to replace grantors identified on the PPSR by an ABN with the same grantors identified by an Australian Company Number (ACN), where the grantors had both an ABN and an ACN. As noted on the Announcements page at www.ppsr.gov.au, among the registrations affected were 484 registrations that should have had grantors identified by ARBN (not ACN). The majority of the affected grantors are foreign companies, but included is a small set of Australian non-companies (for example, cooperatives) which should be identified by ARBN. A programmatic solution to substitute ARBN for ACN for the affected entities (known as CR093) was successfully completed on 14 September 2012.

It is still recommended that anyone who had a charge registered at ASIC should check that it is now properly registered on the PPSR. 

W G Stark 
Hayden Starke Chambers