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General Details

Security Type

Select the applicable Security Type. This list is based upon the Security Class selected.

Reference

Enter a Reference if applicable.

Specify if this Item is no longer used

No longer in use, e.g. defunct or released from security?

Tick the checkbox if this "Security Item" is no longer in use, e.g. the Item no longer exists, is not applicable or has been released from security.

Reason

Enter a reason that the "Security Item" is no longer in use. The values for this field can be defined in Information List 'SecItemDefunctReason'.

New Zealand Databases - If the Security Item is registered with the PPSR, ticking the "No longer in use..." flag will cause the Financing Statement to require amendment or discharge from the PPSR.
Australian Databases - If the Security Item is registered with the PPSR, ticking the "No longer in use..." flag will cause the Registration to require discharging from the PPSR.

Specify whether this Item is a Trade-In

Trade-In?

Tick to flag this "Security Item" as a Trade-in.

IMPORTANT!

Security Items flagged as Not in Use or Trade-In, are not included in the total for the Security Statement and will not be registered on the PPSR.

Specify whether this is an Inventory Item

Inventory?

Tick to flag this "Security Item" as an Inventory Item.

New Zealand Databases - Inventory is not a flag used by the PPSR and is not applicable for Insurance or Land base types.
Australian Databases - Inventory is a flag used by the PPSR. Whether it is applicable to the Security Item depends on the Collateral Class of the Security Item. (It is not applicable for any Consumer collateral class items).

Security Item, General Page