Personal Property Registry Fees Regulation

Personal Property Registry Fees Regulation, M.R. 72/2014 The Personal Property Security Act , C.C.S.M. c. P35 Regulation 72/2014 Registered March 14, 2014 bilingual version (HTML) Table of Contents Section 1 Definitions 2 Fees 3 Annual fee adjustment 4 Rounding 5 Fees to be posted 6 Fee waived or reduced 7 Repeal 8 Coming into force Schedule Definitions 1 The following definitions apply in this regulation. "Act" means The Personal Property Security Act . («  Loi  ») "AFA" means the amount of the annual fee adjustment described in section 3. (« RAD ») "PYF" , in relation to any fee, means the amount determined for PYF (the abbreviation for "previous year's fee") in the annual fee adjustment formula in section 3. (« DAP ») "registered" means registered in the Registry. (« enregistré ») "rounding" means rounding up under section 4. (« arrondissement ») "service" means a registry service as defined in the Act. (« service ») "year" means a calendar year. (« année ») Fees 2(1) The fees payable under the Act must be determined in accordance with this regulation. 2(2) Subject to subsections (3) and (4), the fee for a service specified in the Schedule is to be determined according to the instructions in the Schedule and section 4 (rounding). 2(3) The annual fee adjustment for a year takes effect on the first Sunday following January 1. 2(4) From January 1 of a year until the date the annual fee adjustment takes effect for that year, the fee for a service is the fee as at the end of the immediately preceding year. 2(5) The fee for any other service not specified in the Schedule is to be determined by the Registrar-General with reference to a fee in this regulation for a service involving comparable time, resources and responsibility. Annual fee adjustment 3(1) The annual adjustment to the fee for any service is the amount determined by the following formula: AFA = PYF × (1% + C) In this formula, AFA means the amount of the annual fee adjustment; PYF means the amount without rounding of the fee for that service as at the end of the immediately preceding year; C means the increase in the CPI for the 12-month period ending on June 30 of the immediately preceding year, expressed as a percentage. 3(2) For the purpose of subsection (1), "CPI" means the Consumer Price Index for Canada, all-items, not seasonally adjusted (base year 2002), as currently reported by Statistics Canada in Table 5 of The Consumer Price Index (Catalogue no. 62-001-X) or the comparable replacement index, prepared by Statistics Canada, its successor or another body that assumes responsibility for the preparation of that index. If there is no such index, "CPI" means a comparable index or measure designated by the Lieutenant Governor in Council. Rounding 4(1) A fee determined under this regulation must be rounded up to the nearest $1.00 increment. 4(2) The fee as rounded up under subsection (1) must not be used as the PYF for the purpose of determining the AFA. Fees to be posted 5(1) A service provider must prominently post the current fees (as determined in accordance with this regulation) in a public place in the registry office and on the service provider's website. The information must be set out in a clear and understandable manner. 5(2) Failure to post the fees in accordance with subsection (1) does not invalidate the fees payable or affect the determination of the fees payable. Fee waived or reduced 6 A service provider or the Registrar may waive or reduce a fee (a) if necessary to correct an error, facilitate a registration or for some other similar reason; or (b) with the approval of the Registrar-General. Repeal 7 The Personal Property Registry Fees Regulation , Manitoba Regulation 79/2004, is repealed. Coming into force 8 This regulation comes into force on May 25, 2014. SCHEDULE (Section 2)