CONVEYANCERS LICENSING ACT 2003 - SECT 26
Sharing of receipts with unqualified persons
CONVEYANCERS LICENSING ACT 2003 - SECT 26
Sharing of receipts with unqualified persons
26 Sharing of receipts with unqualified persons
(1) A licensee must not share the receipts of a conveyancing business with
another person unless--
(a) the other person is a licensee, or
(b) the
sharing of those receipts with that other person is approved by the Secretary
and does not contravene the provisions of any regulation under this section.
: Maximum penalty--200 penalty units in the case of a corporation or 100
penalty units in any other case.
(2) An approval may not be given under this
section unless the Secretary is satisfied that the sharing of the receipts of
the conveyancing business in accordance with the approval--
(a) will not
result in a person other than a licensee gaining control of the business, and
(b) will not adversely affect the independent conduct of the licensee's
business or give rise to a conflict between the interests of the licensee and
the interests of any of the licensee's clients.
(3) This section does not
prevent a party to a transaction from recovering from any other person the
costs of conveyancing work carried out by a licensee who is employed by the
party under a contract of service.
(4) The regulations may make provision for
or with respect to restricting the circumstances in which a licensee may share
the receipts of a conveyancing business with another person who is not a
licensee.