There is a different system in each State of Australia for taking and registering security interests (including leases,
hire purchase and retention of title arrangements) over most types of
tangible and intangible personal property  (including livestock, crops,
intellectual property and receivables) ranging from motor vehicles and boats to liquor licences, water rights, taxis and gaming machines.

Bur it now appears that a consensus exists for a unified national law and registry where substance will take precedence over form.

The Standing Committee of Attorneys-General has released an Options Paper (Pdf) for consultation.