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PCCB Registration Fees are based on the total number of full time equivalent staff (including personnel not directly employed) performing work in relation to searches and/or HIPS from which the registered firm derives a financial benefit (see Notes below at foot of page). For franchisors or groups, the fees are also partly based on the number of franchisees or group ‘members’. The Search Code and the HIP Code are two separate Codes and thus attract separate fees. However, if a firm wishes to subscribe to the Search Code they can do so either as a retailer, compiler or both.

If a firm intends to subscribe to the Search Code and the HIP Code, two registration fees will be payable based on the number of staff involved in each area of the business. However, a 20% discount will apply to the lower of the two registration fees in recognition of the fact that the Codes contain similar requirements. This discount only applies if it is the same entity using the same trading name at the same address. The current fee structure for 2007/2008 is set out below:

The PCCB routinely reviews the registration fees and the ‘Registration Fee Review’ process is set out below. The registration period for each Registered Firm will run for 12 months from the date of registration. For example, if Firm A is registered on 1 November 2007, their registration will run until 31 October 2008 and then be renewable on 1 November 2008 at the Registration Fee Scale current at the date at which the renewed registration commences. No refund will be payable should registration cease during the registration period, for whatever reason.

Payment

The Registration Fees should be paid by cheque and made payable to "Property Codes Compliance Ltd". Where two Registration Fees need to be paid, these can be included on one cheque.

Registration Fee Review

During its first year of operation, PCCB adopted a simple registration fee scale, based on the number of staff (full time equivalent) within each firm and had the support of the sponsors of the Search Code (CoPSO) and the HIP Code (AHIPP) to ensure it was adequately funded. For 2007/2008 PCCB has applied a small index linked inflationary increase to the registration fees but has kept the fee structure broadly similar to that adopted previously. PCCB is a not-for-profit organisation and is now solely funded by registration fees. This could in turn lead to increases in registration fees going forward dependent on corresponding operating cost increases.

It is intended that the current fee structure will remain until 30 September 2008. However, the current inspection process will also influence how PCCB should most efficiently treat different types of firms (e.g. sole traders, groups and franchise networks) with regard to registration fees to deliver effective compliance and inspection functions and this may lead to changes to the registration fees. The overriding principle is that all individual search and HIP firms should be listed on the PCCB Register of firms and should be treated in a fair and consistent way.

Notes

1. "Full time equivalent staff" should include staff (eg: marketing, administration, finance, etc.) whose time may not be spent entirely on search and/or HIP business. For example, if a firm has four administrators who each spend half their time on non search and/or HIP business then these would be counted as two full time equivalent staff.
2. "Personnel not directly employed" includes self employed staff, contracted personnel, etc. (eg: search agents, Home Inspectors, etc.) except where such staff are directly employed by a firm currently registered with PCCB as a subscriber to the HIP and/or Search Codes and where such staff have actually been included in the fee calculation of that firm.

2 April 2008