The ability to search the registry by anyone is therefore free-of-charge for the first two years and this arrangement will be reviewed in due time, as we monitor the effectiveness of the Registry. (iii) Economic Reform Disguised as a Legal Reform The online Registry we are launching today is only a part of the broader economic reform plan underlying the commencement of the PPSA.
During the year 2009, the bid cover ratio in the primary market was 2.346 (compared to 1.445 in 2008), an indicator that there was increased demand for government securities. Furthermore the Primary Dealers have continued to provide liquidity in the secondary market by quoting effective two-way prices in all market conditions.