The Australian Financial Security Authority (AFSA) has proposed that the Personal Property Securities Registry fees and charges be changed from 1 July 2018.

Assuming there is a steady growth in registration activity, AFSA believes that it can reduce its fees and broadly cover its own costs. It has therefore proposed the following reductions:

The fee changes include:
• Search of the Personal Property Securities Register: reduction from $3.40 to $2.00;
• Register a Financing Statement where the duration is 7 years or less: reduction from $6.80 to $6.00;
• Register a Financing Statement where the duration is more than 7 years but less than or equal to 25 years: reduction from $34.00 to $25;
• Register a Financing Statement for a not stated end time: reduction from $119.00 to $115.00.

If the proposed fees and charges are approved by the Attorney-General they will come into effect on 1 July 2018.