The Australian Financial Security Authority (AFSA) has published a Cost Recovery Implementation Statement listing its proposed Personal Property Securities Register fees to apply from 1 July 2015.

Interestingly the fees would generally reduce due to the cessation of the repayment to government of Register establishment costs and no forecast change in volumes.

For example:

• Register a Financing Statement for a not stated end time: reduction from $140.00 to $119.00
• Register a Financing Statement where the duration is 7 years or less: reduction from $8.00 to $6.80
• Register a Financing Statement where the duration is more than 7 years but less than or equal to 25 years: reduction from $40.00 to $34.00
• Search of the register: reduction from $4.00 to $3.40.

Any new fees must be approved by the Attorney-General. If the proposed fees and charges are approved by the Attorney-General they will come into effect on 1 July 2015.