New South Wales Consolidated Regulations

CONVEYANCERS LICENSING REGULATION 2006

- Made under the Conveyancers Licensing Act 2003
- As at 1 July 2009
- Reg 707 of 2006

TABLE OF PROVISIONS

   PART 1 - PRELIMINARY

   1.      Name of Regulation
   2.      Commencement
   3.      Definition
   4.      Meaning of “Operating Account”

   PART 2 - LICENSING

   5.      Fees for licence
   6.      Professional indemnity insurance: section 15

   PART 3 - CONDUCT OF CONVEYANCING BUSINESS

   7.      Section 20 exemptions-person in charge at place of business
   8.      Rules of conduct
   9.      Conduct of other businesses
   10.     Obligation to disclose certain matters to client
   11.     Itemised account

   PART 4 - RESOLUTION OF COSTS DISPUTES

   12.     Notifying Tribunal of costs dispute
   13.     Fee for notifying Tribunal of costs dispute
   14.     Costs of assessment
   15.     Application for determination of costs dispute
   16.     Fee for application for determination of costs dispute
   17.     Transfer of proceedings to or from other courts or tribunals

   PART 5 - TRUST MONEY

           Division 1 - General

   18.     Definitions
   19.     Keeping of records generally
   20.     Specific records to be kept by licensees
   21.     Computer records
   22.     Statements of account
   23.     Receipt and withdrawal of money for costs and disbursements

           Division 2 - Trust accounts

   24.     Banking of trust money
   25.     Receipts for trust money
   26.     Payment of trust money
   27.     Trust deposits
   28.     Cash book record of trust account transactions
   29.     Journal
   30.     Trust account ledger
   31.     Trust account ledger trial balance
   32.     Signing of cheques or effecting electronic funds transfers-trust account
   33.     Account in the name of a licensee

   PART 6 - RECORDS

   34.     Records that licensees must keep
   35.     Period for which records must be retained
   36.     Records and book entries to be in English language

   PART 7 - GENERAL

   37.     The Register
   38.     Complaints and discipline
   39.     Modification of Licensing and Registration (Uniform Procedures) Act 2002
   40.     Corporate licensees
   41.     Penalty notice offences and penalties

   PART 8 - TRANSITIONAL PROVISIONS

           Division 1 - Preliminary

   42.     Definitions

           Division 2 - Transitional provisions relating to controlled money

   43.     Part 5 and controlled money
   44.     Manner of dealing with controlled money
   45.     Controlled money not transferred to trust account

           Division 3 - Other transitional provisions

   46.     Audit period
   47.     Approved policy of professional indemnity insurance
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3
           SCHEDULE 4