Personal Property Securities (Registrar of Personal Property Securities) Appointment (No. 1) 2025

Overview

The Personal Property Securities (Registrar of Personal Property Securities) Appointment (No. 1) 2025 Instrument was enacted to address the need for a full-time appointment of a Registrar of Personal Property Securities under the Personal Property Securities Act 2009. This legislative instrument, dated 25 September 2025, was issued by Andrew Leigh, the Assistant Minister for Productivity, Competition, Charities and Treasury, and the Parliamentary Secretary to the Treasurer. The instrument appoints Gabrielle Gallagher as the Registrar of Personal Property Securities, marking the formalisation of this critical role within the framework of Australia's personal property securities legislation. The objective of this appointment is to ensure efficient and effective administration of personal property securities registration and related activities, thereby supporting the broader policy goal of enhancing the transparency and accessibility of personal property securities records.

Scope and Application

The Personal Property Securities (Registrar of Personal Property Securities) Appointment (No. 1) 2025I instrument designates Gabrielle Gallagher as the Registrar of Personal Property Securities on a full-time basis, effective from the day following its registration on the Federal Register of Legislation. This appointment is made under section 194 of the Personal Property Securities Act 2009 and is intended to ensure that there is an appointed Registrar responsible for the administration and oversight of personal property securities as outlined by the Act. The instrument applies to Gabrielle Gallagher, who is now vested with the responsibilities and authority as the Registrar of Personal Property Securities, ensuring the efficient and effective operation of the personal property securities system within Australia. The scope of the instrument extends across the Commonwealth and is instrumental in the implementation of the broader legislative framework established by the Personal Property Securities Act 2009.

Key Provisions

The Personal Property Securities (Registrar of Personal Property Securities) Appointment (No. 1) 2025I, signed by Andrew Leigh, Assistant Minister for Productivity, Competition, Charities and Treasury, appoints Gabrielle Gallagher as the Registrar of Personal Property Securities. This appointment, under section 194 of the Personal Property Securities Act 2009, is effective from the day after the instrument is registered on the Federal Register of Legislation, and it is a full-time role. The Registrar is responsible for administering the Personal Property Securities Register and ensuring compliance with the Act. The Act imposes specific obligations on the Registrar, including the maintenance and operation of the Personal Property Securities Register. The Registrar must ensure that all registrable security interests are correctly recorded and updated in the Register. This includes verifying the accuracy of the information provided by creditors and debtors, ensuring that the Register is accessible to the public, and managing the security interest lifecycle from creation to satisfaction or termination. The Registrar must also facilitate the search and retrieval of information from the Register to support the interests of both creditors and debtors. Failure to comply with the requirements of the Personal Property Securities Act 2009 can result in serious consequences. The Act outlines various offences and penalties for breaches, which can include fines and imprisonment. For example, providing false or misleading information to the Registrar can result in a fine of up to 2,500 penalty units (approximately AUD 500,000) for an individual or 12,500 penalty units (approximately AUD 2.5 million) for a body corporate. Additionally, the Registrar has the authority to impose administrative penalties for certain breaches, such as failure to lodge required information or pay fees. These penalties can also be significant, depending on the nature and severity of the breach. It is important for all parties involved in personal property security interests to understand and comply with their obligations under the Act to avoid these consequences.