The MTA has been working with the Australian Financial Securities Authority throughout this year to negotiate business development activities and forge a closer working relationship on issues that affect you all. So far, this has delivered some significant wins including:
- A PPSR Search now costs only $2 via the PPSR website.
- The search is valid for 14 days on a VIN without needing to pay for each search
- Members can now register an interest over an entire debt owed to a repairer, not just the property!
Point three is a significant win for members in that if you release a vehicle after repairs have been completed and are concerned about whether or not you will get paid, you can register it for first preference to be paid in the event the debt is not paid. It will also show up on any PPSR search as an interest over the vehicle.
Previously, you were only legally entitled to register property or parts, not goods, services or labour).