Hello!

A Form PA stands for Performing Arts and protects the whole song - so it would be the song as the song and anything coming after that (any recording) would be ownership of the copyright holder in that song.

A Form SR stands for Sound Recording. This is why labels can own the SOUND RECORDING and prevent you from using it, but you can record a cover song in your own way. The Sound Recording is its own separate art but it only covers that one particular recording of a song - not EVERY recording of a song. So Tony Bennett's Fly Me to the Moon is a separate ownership than Frank Sinatra's. Makes sense and they are on two separate labels.

Does that answer the question?