16 Events After the Balance Sheet Date

In February 2006, LINZ announced the phasing out of paper-based lodgement for survey and title transactions by July 2008. LINZ has successfully met the mandatory dates for electronic lodgement of routine transfers and mortgages (August 2007) and of all survey datasets (September 2007). In agreement with the industry and the Minister, all remaining titles transactions, such as caveats and rights of way, will be lodged electronically from the end of February 2009.

With 100% electronic lodgement, the volume of manual processing work has reduced, requiring a smaller workforce and a reduction in the number of our five regional processing centres. LINZ will retain two processing centres, in Hamilton and Christchurch, and close the centres in Dunedin, Wellington and Auckland.

In July 2008, LINZ announced the timetable for closing the Dunedin, Wellington and Auckland processing centres – Dunedin and Wellington will close in 2010 and Auckland in 2012. This announcement was made to give staff more certainty over their future. All affected staff have been given the opportunity to relocate to either of the remaining centres. LINZ has estimated that the cost of relocation and redundancies will be approximately $4 million over the next three years.