The Insolvency and Trustee Service Australia (ITSA) has recently released their statistics for activity on
the PPSR for the quarter ending 30th June 2013.
Probably not surprisingly, out of over 1.5 million searches
conducted (the busiest quarter of the 2012/13 year), the vast majority (61.4%) were searches of motor vehicle
serial numbers with the balance pretty much taken up by searches for registrations
against organisations (32.2%).
543,620 registrations were lodged on the Register during the
quarter with an overwhelming majority (87.8%)
being non-transitional registrations.
Interestingly, at 354,937, the number of discharges was
equivalent to almost two thirds of the number of new registrations lodged
giving 188,683 in net new registrations.
However, with the total number of registrations as at the end of June (7,366,053)
showing only a 111,721 increase over the equivalent figure reported for the end of
the previous quarter, this leaves us with a discrepancy of just under 77,000.
ITSA provides no explanation for the loss of 77,000
registrations during the quarter.
Conceivably they have all expired naturally (although that does seem a
particularly high figure this early in the life of the PPSR given that the register
virtually encourages registrations for up to at least 7 years) or perhaps
someone will find that they have slipped down the back of a cupboard somewhere.
Motor vehicles are the most common collateral class listed
on registrations on the PPSR. As at 30 June 2013, there were 3,998,373 current
registrations on the PPSR of this class.
ALLPAPs (with and without exceptions) came in second with just under
half that number and then ‘Other Goods’ registrations at 1.23 million.
The full set of statistics released by ITSA can be found at
the following link:
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