Once an Account has been closed (settled) you need to discharge, i.e. close, the Collateral Registration. However, when an Account is closed there is normally a period of time where the payment made could be rejected, i.e. bounced. Therefore it is unusual to immediately discharge Securities upon the Account being settled. Instead this process normally occurs after the payment is cleared.
This section illustrates how to Discharge one Collateral Registration at a time, see the Bulk Update topic for information on how to discharge multiple Collateral Registrations.
To Discharge a Collateral Registration held on the PPSR
- From the Security menu, click Security Statements.
- Select the Security Statement, and therefore the Item to be discharged.
- Click on the Security Items page and open the Security Item form by Double-clicking the Item, or by clicking the
button in the correct row of the grid. - Click on the Discharge Registration action from the PPSR B2G section of the Taskbar at the left of the form.
- A warning message will appear advising Are you sure you want to discharge this Collateral Item?. Click Yes to continue, or No to cancel.
- If the transaction is unsuccessful the Action Status will change from Send to Pending.
Note, do not go into edit mode.