The PPSA has very strict rules when it comes to identifying grantors and, if your registration does not show up on a search conducted in accordance with those rules, your registration will almost certainly be deemed invalid.
This was confirmed in a high-profile judgment from the NSW Supreme Court in January 2017 when it was decided that a registration by Alleasing P/L against OneSteel Manufacturing’s ABN instead of its ACN was enough to render the registration ineffective even though there was no doubt as to the entity concerned.
The following table is a handy reference to identifying a grantor:
|Grantor Type||Grantor Details Required|
|Sole Trader||Full Name (as per driver’s licence) and date of birth|
|Sole Trader acting as Trustee||Trust ABN (if the Trust does not have an ABN, as per ‘normal’ Sole Trader)|
|Partnership acting as Trustee||Trust ABN (if the Trust does not have an ABN, as per ‘normal’ Partnership)|
|Partnership without an ABN||Full name and DOB of each partner (or ACN’s of each if a corporate partnership)|
|Company with an ACN and no Trust involved||ACN|
|Company with an ACN acting as Trustee||Trust ABN (if the Trust does not have an ABN, as per ‘normal’ Company)|
|Corporate entity without an ACN||Full name of the business as per articles of association|
|Trust||Trust ABN (if no ABN, use rules per the trustee)|
The PPSA (and insolvency practitioners) take these rules very seriously and this is one instance of ‘close enough’ certainly not being ‘good enough’.