New South Wales Consolidated Acts

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CONVEYANCERS LICENSING ACT 2003

- As at 7 July 2017
- Act 3 of 2003

TABLE OF PROVISIONS

           Long Title

   PART 1 - PRELIMINARY

   1.      Name of Act
   2.      Commencement
   3.      Definitions
   4.      Conveyancing work
   5.      Notes

   PART 2 - LICENCES

           Division 1 - Requirement for licence

   6.      Persons conducting conveyancing business required to be licensed
   7.      Effect of licence

           Division 2 - Eligibility, qualifications and disqualification

   8.      Eligibility for licence
   9.      Qualifications for licence
   10.     Disqualified persons

           Division 3 - Application and issue procedure

   11.     Application to licences of Licensing and Registration (Uniform Procedures) Act 2002
   12.     Application fees and Compensation Fund contributions
   13.     Grounds for refusal of licence
   14.     Conditions-general
   15.     Special condition requiring professional indemnity insurance
   16.     Issue of licence
   17.     Duration
   18.     (Repealed)

   PART 3 - GENERAL CONDUCT OF LICENSEES

           Division 1 - Place and name of business

   19.     Business names

           Division 2 - Business practices and supervision

   20.     Each place of business to be in charge of licensee
   21.     Duty of licensee and person in charge to properly supervise conveyancing business
   22.     Rules of conduct for licensee’s business
   23.     Undertakings by licensees
   24.     Duty of licensee to notify failure to account
   25.     Industry association to report failure to account
   26.     Sharing of receipts with unqualified persons
   27.     Partnerships
   28.     Conduct of other businesses

           Division 3 - Employees

   29.     Employment of disqualified persons
   30.     Liability of licensee for acts of employees
   31.     Licensee to keep records of certain employees
   32.     Duty of licensee to notify disqualification of employee
   33.     Employees required to notify disqualification

           Division 4 - Advertisements and representations

   34.     Advertising
   35.     Advertisement to include information about licensee

           Division 5 - Disclosure of costs and other matters

   36.     Obligation to disclose costs and other matters to clients
   37.     When disclosure to be made
   38.     Disclosure to be in writing
   39.     Exception to disclosure
   40.     Regulations as to disclosure
   41.     Effect of non-disclosure of matters related to basis of costs

   PART 4 - RESOLUTION OF COSTS DISPUTES

           Division 1 - Interpretation

   42.     Definition

           Division 2 - Preliminary procedure

   43.     Notifying Tribunal about costs dispute
   44.     Attempts to resolve costs dispute
   45.     Costs of assessment
   46.     Procedure if agreement reached on costs dispute

           Division 3 - Determination of costs dispute

   47.     Application for determination of costs dispute
   48.     Preliminary procedure must be followed
   49.     Jurisdiction of Civil and Administrative Tribunal in relation to costs disputes
   50.     Tribunal to be chiefly responsible for resolving costs disputes
   51.     Powers of Tribunal

   PART 5 - TRUST MONEY

           Division 1 - Preliminary

   52.     Interpretation

           Division 2 - Payment of trust money into trust account

   53.     Payment of trust money into trust account
   54.     Approval of authorised deposit-taking institutions
   55.     Trust money not available to pay licensee’s debts
   56.     Licensee to notify trust account becoming overdrawn
   57.     Interest earned on trust accounts to be paid to Statutory Interest Account

           Division 3 - Responsibilities of authorised deposit-taking institutions

   58.     Overdrawn trust accounts
   59.     Dishonoured cheques
   60.     Annual certification by auditor
   61.     Protection of authorised deposit-taking institutions from liability

           Division 4 - Unclaimed trust money

   62.     Unclaimed trust money held by licensee
   63.     Unclaimed trust money held by former licensee or personal representative
   64.     Disposal of unclaimed money in trust accounts
   65.     Repayment of unclaimed trust money

           Division 5 - Information about trust accounts or transactions

   66.     Secretary may require information
   67.     Person concerned in transaction may request itemised account
   68.     Offence

   PART 6 - RECORDS

           Division 1 - Keeping and inspection of records

   69.     Licensee’s records
   70.     Inspection of licensee’s records
   71.     Inspection of records of authorised deposit-taking institutions
   72.     Power to require production of licensee’s records
   73.     Power to take possession of records to be used as evidence
   74.     Offence

           Division 2 - Audit of licensee’s records

   75.     Requirement for audit
   76.     Audit period
   77.     Secretary required to be notified where no money held or received on behalf of another person
   78.     Audit obligations of partners
   79.     Qualifications of auditors
   80.     Duties of auditors

           Division 3 - Freezing of accounts

   81.     Definitions
   82.     Secretary may freeze licensee’s accounts in particular cases
   83.     Financial institution must comply with direction
   84.     Account not to be operated unless Secretary allows
   85.     Secretary may operate account
   86.     Withdrawal of direction

   PART 7 - CLAIMS ARISING FROM FAILURE TO ACCOUNT

   87.     Definition
   88.     Claims can be made against Compensation Fund
   89.     Contributions by applicants for licences

   PART 8 - MANAGEMENT AND RECEIVERSHIP

           Division 1 - Interpretation

   90.     Definitions
   91.     Associates of a licensee
   92.     Failure to account

           Division 2 - Management

   93.     Appointment of manager
   94.     Qualifications for appointment as a manager
   95.     Powers of a manager
   96.     Management continues under receivership
   97.     Acts of manager to be taken to be acts of licensee
   98.     Manager may be reimbursed
   99.     Payment of expenses of management
   100.    Manager to report to Secretary
   101.    Trust money
   102.    Office accounts
   103.    Termination of management
   104.    Obstruction of managers

           Division 3 - Receivership

   105.    Supreme Court may appoint receiver
   106.    Receivership may extend to property of licensee’s associate
   107.    Court to be closed
   108.    Order to be served
   109.    Receiver may take possession of property
   110.    Information about receivable property
   111.    Stop order on account
   112.    Improper dealing with property
   113.    Recovery of compensation for disposal of receivable property
   114.    Receiver may give certificate
   115.    Receiver is taken to be beneficially entitled
   116.    Receiver may deal with property
   117.    Other powers of receiver
   118.    Notice to claim receivable property
   119.    Lien for costs on receivable property
   120.    Examination by receiver
   121.    Property not dealt with by receiver
   122.    Investment of money by receiver
   123.    Receiver may be reimbursed for damages
   124.    Payment of expenses of receivership
   125.    Supreme Court may review expenses of receivership
   126.    Receivable property not to be attached
   127.    Applications for directions by receiver, licensee etc
   128.    Supreme Court may give general directions to receiver
   129.    Receiver to report to Supreme Court and Secretary
   130.    Termination of appointment of receiver
   131.    Obstruction of receivers

   PART 9 - COMPLAINTS AND DISCIPLINARY ACTION

   132.    Grounds for disciplinary action
   133.    Disciplinary action
   134.    Decision to take no further action
   135.    Complaints
   136.    Show cause notice
   137.    Power to suspend licence when show cause notice served
   138.    Inquiries and investigation
   139.    Taking of disciplinary action
   140.    Recovery of monetary penalty
   141.    Administrative review of disciplinary action by NCAT
   142.    Warning notices
   143.    Failure to comply with disqualification from involvement in business
   144.    Return of suspended or cancelled licence

   PART 10 - ENFORCEMENT

   145.    Authorised officers
   146.    Powers of entry, inspection etc
   147.    Power of authorised officer to obtain information, records and evidence
   148.    Obstruction etc of authorised officers
   149.    Taking possession of records to be used as evidence
   150.    Search warrants
   151.    Injunctions

   PART 11 - OFFENCES AND PROCEEDINGS

           Division 1 - Offences

   152.    Fraudulent conversion and false accounts of money received by licensee
   153.    Fraudulent accounts for expenses, fees and other charges
   154.    Failure to account
   155.    Offences by persons other than principal offenders
   156.    Operation of Crimes Act 1900 not affected

           Division 2 - Proceedings

   157.    Proceedings for offences
   158.    Penalty notices
   159.    Time for laying information
   160.    Liability of directors etc for offences by corporation-accessory to the commission of the offences

   PART 12 - ADMINISTRATION

   161.    Disclosure of information
   162.    Register
   163.    Certificate evidence
   164.    Delegation

   PART 13 - MISCELLANEOUS

   165.    Fair Trading Act not affected
   166.    Exclusion of personal liability
   167.    Service of notices and directions
   168.    Repeals
   169.    Savings and transitional provisions
   170.    (Repealed)
   171.    Displacement of Corporations legislation
   172.    Regulations
   173.    Review of Act
           SCHEDULE 1
           Schedule 2 (Repealed)


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