This quick guide contains some useful information about the key changes we’ve made, and instructions on how to get access to, and to use, the new PPSR.
1. Getting on board
We’ve transferred your financing statement and secured party group (SPG) information (including PINs and passwords) to the new register.
Please note, however, we’ve not transferred:
- existing PPSR user accounts, including your old user IDs, passwords and direct debit authorities and
- financing statements that expired or were discharged prior to 1 January 2013.
Therefore, PPSR customers will each need to create a new PPSR online services account.
Check out our new video: Setting up your PPSR account
Please contact us if you require a copy of a financing statement that has not been transferred.
2. Adding your existing secured party groups (SPGs) to ‘My Portfolio’
If you’ll be managing financing statements on the PPSR, you’ll need to first add your SPGs to the ‘My Portfolio’ section on the dashboard. You can do this by simply providing the SPG ID and password. This is a one-off requirement that saves your SPGs to your organisation's dashboard to allow quicker access to the groups that your organisation users manage.
Check out our new video: Register and manage your financing statements on the PPSR
3. A new form of identification – the New Zealand Business Number (NZBN)
The New Zealand Business Number (NZBN) is a unique, globally recognised form of identification allocated to businesses in New Zealand. All New Zealand government agencies are required to recognise the NZBN within prescribed timeframes.
The Personal Property Securities Amendment Regulations 2018, which came into effect on 1 October 2018, included the requirement to provide the NZBN for debtor organisations (excluding trusts, partnerships and sole traders) when registering or amending a financing statement.
This means the following entity types, as the debtor organisation, must now have an NZBN included in financing statements:
- Companies registered in New Zealand
- Incorporated societies
- Charitable trust boards
- Industrial and provident societies
- Credit unions
- Friendly societies
- Building societies
- Limited partnerships
- Public sector entities (where the public sector entity has been assigned an NZBN).
The regulations provide a two-month transition period beginning 1 October 2018 for the inclusion of the debtor organisation’s NZBN in financing statements registered before this date.
We have inserted the debtor organisation’s NZBN in financing statements where we could match the debtor name, number and organisation type in the relevant entity register e.g. for a company, the Companies Register.
In the first week of October the Registrar will email the secured parties a list of the financing statements in which the NZBN has not been included.
Secured parties have been emailed with a list of the financing statements in which the NZBN was not able to be included. These need to be amended to include the NZBN by 30 November 2018, as required by the Regulations.
To add an NZBN in a financing statement
- Go to the ‘View Financing Statement’ screen by opening your financing statement.
- Select the ‘Amend Financing Statement’ option from the ‘Maintain’ drop-down menu.
- Enter the financing statement PIN.
- On the ‘Amend Registered Financing Statement’ screen, click on the ‘Debtor Details’ tab.
- Click the ‘Edit Debtor’ button next to the debtor to which you wish to add the NZBN. Then click on the ‘Change’ link.
- You’ll be provided with a look-up option. Enter the debtor organisation name, and all organisations with that name will be presented in a drop-down list. Once you’ve selected the correct organisation, PPSR will automatically populate the name, incorporation number and the organisation’s NZBN.
- Click the ‘Save’ button.
- Click the ‘Next Step’ button to move to the next tab or go to the ‘Review’ tab.
- Click the ‘Register’ button to complete the changes to the financing statement.
For information about NZBN, please visit www.nzbn.govt.nz
4. Searching PPSR
The new PPSR now provides a debtor NZBN search, similar to the debtor incorporation number search.
Please be aware, however, that financing statements registered prior to 1 October 2018 may not contain NZBN information. As mentioned above, the Registrar has included the NZBN in active financing statements only where the name, number and organisation type matches the details in the register where the organisation is registered (for example, the Companies Register).
You should, therefore, consider searching using both the incorporation number and NZBN. Search results will include registrations that contain either or both of these numbers.
Check out our new video: Searching the PPSR