On 31 Janury 2014, the transitional period for businesses to record any security interest existing before the commencement of the the Personal Properties Securities Act 2009 (Cth) (PPS Act) expires (please see our previous blog post on this topic).

IP Australia have advised that Security interests recorded on IP Australia’s registers are not being automatically migrated to the PPS Register.

For those with security interests in Intellectual Property (IP), to ensure the security interest will rank ahead other creditors, we recommend all secured IP interests recorded on IP Australia’s registers prior to 30 January 2012 be recorded on the PPS Register before 31 January 2014.