{January 24, 2006} VICTORIA – The Business Practices and Consumer Protection Authority is announcing a new $50 fee for recording a change in the directors / officers / shareholders of a licensee and a new $200 charge for late filing of financial statements as required by s. 10 (1) of the Debt Collection Industry Regulation. The fees will be effective May 1, 2006.

The Authority operates on a full cost recovery model. The Business Practices and Consumer Protection Authority Act allows the authority to fund its operating costs from fees or charges for its performance of any duty.

The Fee Setting Criteria Regulation requires the Authority to consult with the affected industry and other interested parties before setting fees, charges or other amounts. The regulation also requires the Authority to give at least 90 days’ notice before the fees have effect. Consultation on the proposed fee has been undertaken with the Debt Collection Industry Advisory Group on December 7, 2005, followed by a 30 day consultation period. Notice is being given as of today’s date for the 90 day notice period.

Visit our debt collection webpage for fee schedule.