ASIC satisfied charges have migrated – PPSA

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It has recently been announced that approximately 38,000 ASIC charges have migrated to the Register and appear as current security interests, despite having been satisfied before 30 January 2012.

This issue is expected to be resolved by the use of software that will change the status of the charges to show as satisfied.  This process is expected to start by the end of May 2012.  In the announcement, the PPSR has provided a list of the satisfied charges that have migrated.  The announcement can be viewed at this address: http://www.ppsr.gov.au/EventUpdates/Announcements/Pages/default.aspx.

For more information regarding the ASIC Charges

Please contact our Business Development Team or call us on (07) 3252 0011 to book an appointment with one of our specialist Commercial Lawyers today.