PPSR still not up to speed
The registration backlog throttling the performance of the Personal Property Security Register will take a few more days to clear, according to the Attorney General's Department, after it failed to make as much progress as expected over the weekend.There are now more than 6.5 terabytes of data stored on the register, which already holds data from 23 Commonwealth, State and Territory registers, which was transferred before the national PPSR started operations on 30 January. More, however, is constantly being loaded up, and an update posted on the PPSR website indicates there are still delays as a result of the uploading backlogs.The memo on the website also addressed the issue of Australian Securities and Investments Commission data, which features both Australian Business Names and Australian Company Names, forcing people using the register to search by company name, ACN and ABN - with each search being charged separately. The Attorney General acknowledged the issue, but said yesterday: "Searches need only be conducted on the one register, rather than on multiple registers in multiple jurisdictions levying different fees."According to the statement published on the PPSR website: "The Registrar proposes to publish a verification statement under section 158 of the PPS Act in respect of the registration events which occur as a result of the aforementioned process to register the grantor identified by ACN and remove the grantor identified by ABN."In terms of the overall performance of the system, a spokesperson from the Attorney General's department said: "As we foreshadowed, there was very strong initial demand for the PPSR in the opening weeks, which did impact on its overall performance. "While there is still room for improvement, specifically in relation to bulk-uploads to the Register, users are now consistently reporting very good response times."