Within many industrial complexes, items such as conveyers, purpose built machinery, support and service structures comprise a major part of the total assets.
Many individual plant and equipment assets, particularly purpose built machinery items, have no formal identification such as a manufacturer's name plate or a unique serial number.
This creates problems when a specific Security Agreement debenture is required and the asset is to be recorded in the Personal Properties Security Register (PPSR).
Lack of specific identification can create problems of ownership and a reluctance of a financier to place a debenture over unidentified assets. |