The Company Extract is now located on the top left hand side of the 'Company Details' screen (next to the Certificate of Incorporation).   The Annual Return Extract is now located in the My Tools menu.

Other changes we have made include –

• The Print option on the right hand side of the page now allows you to print the company details in an easy to read format.
• The All Company Details option has moved to the right hand side of the screen.  To print all the company details select the arrow next to All Company Details followed by the Print button.

The PPSR is an online searchable register of security interests in personal property.  Since May 2002, more than 65,000 creditors have registered as many as 5.7 million financing statements over personal property including equipment, hire purchase agreements, livestock, machinery, and vehicles.

There are three main ways individuals and businesses can use the PPSR: 

1. Register financing statements to reduce risk
   In the event of a company failing or an individual being declared insolvent, it is likely that you will lose any personal property provided to the debtor if you have not registered your security interest on the PPSR (called a financing statement).  Secured creditors will be ahead of you in the queue when payments are made or assets distributed and as an unsecured creditor, you’re likely to lose out financially.  It only costs a few dollars to register a financing statement – and it could mean the difference between recovering what you are owed or taking a significant loss if a debtor fails.
    
2. Check collateral to reduce risk
   If you are about to sign an agreement and someone offers you their personal property as collateral, it is in your best interest to check the PPSR first.  In most cases priority is given to creditors based on the order in which they have been registered, so if someone else has already registered a financing statement over property they will generally have a higher priority and you could lose out if the debtor defaults.
    
3. Check that no money is owed on property before you buy
   If you’re buying personal property such as a car, it is in your best interest to check the PPSR to make sure there is no money owing on it.  Otherwise, you could end up paying the seller for the property and, to prevent the personal property from being repossessed, then paying the secured party too for any outstanding money owed.  And nobody wants to pay twice for the same goods.  For motor vehicles, the PPSR also offers a TXTB4UBUY service, allowing you to check whether money may be owed on a vehicle from your mobile phone.

The PPSR covers most personal property, except land and large ships.  It costs just a small fee to search the register and register financing statements – a tiny price to pay for the peace of mind it offers.

“Too many people only realise the importance of the PPSR when it’s too late and they’ve lost out financially,” said Michael Brosnahan, Operations Manager - Registries at the Ministry of Economic Development.

You should consider using the PPSR:

• When you are lending property or supplying goods on consignment.
• To determine the credit worthiness of a customer or supplying goods on credit.
• To check whether collateral offered as a security is already being used as security somewhere else.
• Before buying a motor vehicle.
• To check whether financing statements registered against you are up to date.

To find out more about the PPSR and how it affects you, talk to a lawyer or visit www.ppsr.govt.nz.

This article is not intended to provide legal advice.  The Companies Office recommends discussing your security interests with your lawyer or accountant.

Auditors and audit firms covered by the regime will need to be on a public register that will be held on this website.

• The register opened on 1 May 2012.
• All affected auditors will need to be on the register by 26 June 2012.
• In respect of financial periods ending on or after 1 July 2012, only auditors who are licensed and audit firms that are registered may conduct issuer audits in New Zealand.

• Visit the Auditors Register now 

With a range of free and paid services ASIC Connect allows customers to search for –

• Organisations & business names
• Documents
• Banned & disqualified customers.

Other services include –

• Checking name availability &
• Browsing professional rgisters
  • Australian financial services licensees
  • Australian financial services authorised representatives
  • Credit registered persons
  • Credit licensees
  • Credit representatives
  • Pre-FSR licensees and authorisations
  • Auditors
  • Liquidators.

Want to know more about ASIC Connect?

For more information about searching ASIC Connect refer to their YouTube Channel, or for an introduction to ASIC Connect or to begin searching visit their website.

ASIC Connect YouTube Channel

ASIC website - Introduction to ASIC Connect

Read more in the release on the Beehive's website

The new Ministry will bring together the Ministry of Economic Development, the Ministry of Science and Innovation, the Department of Labour, and the Department of Building and Housing. 

The Ministry of Economic Development will act as the foundation of the new Ministry, which we expect to be established by 1 July 2012. 

In the meantime, business will continue as usual. 

The Ministry of Economic Development website will be updated with more information as it becomes available. 

If you are experiencing any technical issues with our online services you can access our Technical support page from the Help & Support menu.  From this page you can select your browser type and follow the instructions to solve most technical issues you may be experiencing.

The page also includes a range of other resources to assist you with using the Companies Office website.

• If you need help using our website, visit the new Technical support page

• Visit the statistics page for a full breakdown of the latest figures.

The fresh new-look www.med.govt.nz makes it easy for you to find out about the work our Ministry does in a wide range of sectors and business areas.

The website is packed with everything from valuable energy data to knowing when faster broadband is coming to your area.  Our Ministry will be regularly consulting on specific issues through the new ‘have you say’ section and keeping you up-to-date with an improved news and media centre.

Have a look at the new Ministry of Economic Development website today.
 

The tiered registration fee system has been abolished and replaced with a flat fee of NZ$900 for every new village registered.  The removal of the tiered registration fee will make it easier to determine at registration the correct fee required.

The annual return fee for retirement villages continues to be tiered based on the number of units a retirement village has however, the fees charged for filing an annual return have been significantly reduced to reduce the annual cost of compliance for villages.

The Registrar of Retirement Villages collects fees on behalf of Land Information New Zealand (LINZ) for memorial registration.  The change to this fee is simply to realign the fees paid to LINZ for memorial registration.

• View the updated retirement village fees schedule