On 1 August 2012, the Companies Office will be making a series of changes to the fees it charges for services, and will also begin to collect levies to fund the Financial Markets Authority (FMA) and the External Reporting Board (XRB).
The new Companies Office fee structure addresses a funding deficit and better reflects the true cost of delivering services to the users of the Companies Office registers. FMA and XRB levies will now be included within most registration fees, annual return fees and with the filing of a prospectus.
- Registration fees for NZ and overseas Companies virtually remain the same, with a slight reduction to $150, once the two new levies are included.
- Friendly Societies, Credit Unions and Limited Partnership registration fees will also be reduced, while a fee for registration of a Building Society will be introduced.
- The company annual return fee is being re-introduced as the Companies Office can no longer continue to provide this service for free. The new annual return fee will be $45, this includes a $25 registration fee, a $10 FMA levy and a $10 XRB levy.
- A new annual return fee will also be introduced for building societies, while annual return fees for Credit Unions and Friendly Societies will be reduced. FMA and XRB levies will be collected for all of these entities, as well as for NZ and overseas Limited Partnerships (LP’s).
Registering a prospectus
The fee for registering a prospectus with the Companies Office will now include an FMA levy of $2,000.
FMA and XRB
The Financial Markets Authority (FMA), an independent Crown entity established on 1 May 2011, is New Zealand’s financial services and market conduct regulator. FMA’s operational activities contribute to improving confidence in capital markets and financial service providers through education, licensing and supervision.
The External Reporting Board (XRB) is responsible for all aspects of financial reporting and auditing and assurance standards setting.
New Zealand needs well-functioning capital markets to provide a vital source of finance to help our businesses grow, this includes having clear rules and regulations for market participants to follow.
Through the establishment of the FMA and XRB the government aims to restore investor confidence and help drive economic growth in New Zealand. In order for the FMA and XRB to do their job they need to be adequately resourced and the collecting of levies is essential to fund this.
Registered Financial Service Providers will also pay the new FMA levy, upon registration and filing of their annual confirmation. Read more
Personal Property Securities Register (PPSR) fees for searching, registration and renewal are also changing. Read more
Note | All fees and levies shown below are in New Zealand dollars (NZ$) and include GST.