ASIC has confirmed that registrations of charges against company assets currently recorded on ASIC’s Register of Company Charges will be moved to the new Personal Property Securities (PPS) Register in October 2011.

From October, company charges will no longer be required to be lodged with ASIC. Company charges will then be registered on the PPS Register and managed by the Insolvency and Trustee Service Australia (ITSA).

If your business currently registers company charges you can get more information about the impact on your securities, document changes and new procedures from our Personal Property Securities category or by contacting us.