Fair Trading Commissioner Rod Stowe is advising New South Wales consumers that the new national Personal Property Security (PPS) Register will replace the Register of Encumbered Vehicles (REVS) from today, 30 January 2012.
“For more than 25 years, REVS has helped second-hand motor vehicle and boat buyers of NSW make informed decisions about their purchases,” Mr Stowe said.
“NSW REVS commenced operations on 15 September 1986 to provide an easily accessible public register of motor vehicle encumbrances.
“For the first time, financiers could register their financial interests over vehicles and buyers could check if a vehicle had an outstanding debt.
“Since its inception, REVS has worked closely with the NSW Police, Roads and Traffic Authority and NSW Maritime to deliver an invaluable service to the financial industry, the motor and boat trades and the general public of New South Wales.”
The Commissioner said the success of the register resulted in services and reciprocal arrangements spreading across Australia. REVS was also at the forefront of providing electronic service delivery to its customers, commencing in 1989.
Mr Stowe encouraged NSW consumers to continue the important checks, under the new system.
“This new register is part of a broader set of national reforms replacing more than 70 Commonwealth, State and Territory laws that regulate personal property used as security,” he said.
“The new register will provide a similar service to REVS by allowing the search of second-hand vehicles and boats.
“It will also expand the search to other forms of personal property, including machinery, crops, livestock and accounts.
“The register allows access to national vehicle information that was previously unavailable to users of REVS. A search of the register will recover information from the National Exchange of Vehicle and Driver Information System (NEDVIS).
“NEVDIS provides information on whether the vehicle has been written off or stolen, as well as the make, model, colour and other details on the vehicle.”
The Commissioner said an increase in online and interstate sales made it even more important for NSW consumers to be able to make informed and confident purchases.
For more information on PPS reform and access to the register visit www.ppsr.gov.au or call 1300 007 777.
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