CONVEYANCERS LICENSING ACT 2003 - As at 14 July 2023 - Act 3 of 2003
- As at 14 July 2023 - Act 3 of 2003Table of Provisions
PART 1 - PRELIMINARY
PART 2 - LICENCES
Division 1 - Requirement for licence
Division 2 - Eligibility, qualifications and disqualification
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 of licence
- 18 Time period for restoration of licences
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. (Repealed)- 35 Advertisements include information about licensee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
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
- 80A Secretary must make information available to other 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