finPOWER Newsletter
PPSR Fees increase by 550%
The Companies office has announced that there will be a significant increase in PPSR Search, Registration and Renewal fees. From 1st August this year, the cost to Register a Financing statement is increasing from $3.07 to $20.00. Renewing a financing statement is similarly increased from $3.07 to $20.00 and the cost of a search will increase from $1.02 to $3.00.
In a statement released today, the Companies office states:
“On 1 August 2012, the Personal Property Securities Register (PPSR) will be making a series of changes to the fees it charges for online services.
Since the introduction of the online register in 2002, fees have remained low or even decreased. The Companies Office can no longer sustain PPSR fees at these levels and therefore, these changes have been made to better reflect the true cost of delivering services to the users of the register.
PPSR fees will increase overall and the fees will also be restructured to reflect the differences in the cost of providing services tailored to website users, as opposed to facilitating bulk transactions for Government to Business (G2B) clients via XML.
The search fee for website users and the TXTB4UBUY service will change to $3 while the fee to register or renew a financing statement will change to $20.
The search fee for G2B clients will change to $1.50, while the fee to register or renew a financing statement will change to $10.”
So ... the good news is that clients that have finPOWER PPSR G2B functionality will only pay half the new prices. A schedule of fees is detailed below.
| Service | Current Fee | With PPSR G2B | Without PPSR G2B |
|---|---|---|---|
| Register a Financing Statement | $3.07 | $10.00 | $20.00 |
| Renewing a Financing Statement | $3.07 | $10.00 | $20.00 |
| PPSR Search | $1.02 | $1.50 | $3.00 |
The finPOWER PPSR G2B Add-On will effectively half your cost of PPSR registrations, renews and searches. For most clients the cost of the finPOWER PPSR G2B Add-On will be recouped in a very short space of time and after that will be providing a positive return. If you do not already use the finPOWER PPSR Add-On, and are not happy with paying $20.00 for your PPSR registrations, please call your Dealer or e-mail me.
NZ Credit and Finance Institute Conference
The NZCFI are holding their annual conference in Auckland next month. There are some very interesting and relevant topics to be covered during the two day event. In these times of change that the finance industry is facing, it may be well worth you attending. The programme so far is as follows:
Thursday - 12th July
- Insurance Risk - 2012 Economy - John Lyon from Lumley Insurance
- "The Move Towards Comprehensive Credit Reporting" - Tracey Pennell from Veda
- Challenges and Opportunities for NZ - Graham Turley from ANZ/National
- Opportunities / Challenges for Commercial Developments for 2012 - Alan McMahon, National Director from Colliers International
- New Consumer Law Changes - Sarah Simmers - Partner, Anderson Lloyd
- Cross Border - Our Experiences - Daniel Hughes from Kensington Swan and Steve Lawrence from PKF
Friday 13th July
- "PPSA and recent developments in consumer credit law" - Alan Liddel (Solicitor)
- Insolvent Transactions - Craig Sanson, Director from PricewaterhouseCoopers and James Caird, Partner from Simpson Grierson
- The Economy - 2012 and Beyond - Dr Alan Bollard, Reserve Bank Governor
- The Changing Role of Outsourcing Credit Management - Geoff Harper, CEO from Baycorp
- FMA's Role in New Zealand's Financial Markets Regulatory Landscape - Belinda Moffat, Head of Enforcement for FMA
- The Changing Face of Credit Management - Alan Johnston from CreditWorks
To Register for the event, click here.
For more information, click here.