Victorian Numbered Acts

CONVEYANCERS ACT 2006 (NO 75 OF 2006) - NOTES

Act No. 75/2006

__________________

Victoria

No. 75 of 2006

Conveyancers Act 2006^[†]

[Assented to 10 October 2006]

^[†]     Minister's second reading speech—

    Legislative Assembly: 10 August 2006

    Legislative Council: 14 September 2006

    The long title for the Bill for this Act was "to regulate the carrying out of conveyancing work, to repeal Part 7.1 of the Legal Profession Act 2004, to make consequential amendments to other Acts and for other purposes."

INDEX

Subject	Section
Act
application of Fair Trading Act 1999	183
commencement	2
consequential amendments	192, Sch. 2
purposes	1
repeals	190
savings and transitional provisions	191, Sch. 1
ADIs See Authorised deposit-taking institutions
Associates of licensees
conflicts of interest	49
definition	3, 6
See also Receivers; Trust accounts and trust money
Authorised deposit-taking institutions (ADIs)
approved ADI (def.)	62
duties regarding stop orders on accounts	119
duties regarding trust accounts	84, 91–94, 99
production of documents, information to inspectors	158
Authority See Business Licensing Authority
Business Licensing Authority
definition	3
establishment, maintenance of Register	178
information supplied to, required by (general)	179–181
powers regarding conveyancing businesses	39, 52, 54, 56
review of decisions of	187
See also Licences
Chief Commissioner of Police	21, 156
Claims for compensation
allowance	145
amount claimed	144
disallowance	145–147
freezing of trust accounts to satisfy	94
information in Register	178
insurance, indemnification of Secretary	149–150
interest	144
making of	145
persons, companies against whom claims allowed	5, 29, 31
production of documents in support of	147
review of decisions	146
right to	144
subrogation of Secretary	148
Companies
applications, eligibility for licences	11, 13, 15–19
applications for permission to hold licences	28, 29, 31
ceasing to have licensed director	27–28, 31
definition	3
directors of (def.)	3
information in Register	178
information on display, in correspondence	59–60
Subject	Section
inquiries into conduct of directors	33–34
relationship of this Act to Corporations legislation	139–141
See also Receivers; Statutory managers
Competency qualifications and work experience	11–12, 14
Consumer Acts (def.)	3
Controlled money See Trust money and accounts
Conveyancing businesses
definition	3
employees	11, 51
employment of disqualified persons in	56
information, documents for inspectors	153–154
information in licence applications	14–15
information in Register	178
information, licence displayed at place of	59
letterhead	60
management, managers	51–55
names	39
partnerships	96
principal place of business	3, 57
proper supervision	51
property of (def.)	95
records	58
unlicensed conveyancing	8–10
See also Receivers; Statutory managers
Conveyancing work
conditions in licences regarding specified     transactions	24
definition	3, 4
disclosure of costs	47–48, 77
legal work included, not included in	3, 4
liens over trust money for costs of	77
professional indemnity insurance	41–44
review of exclusion of sales of businesses from	189
See also Conveyancing businesses; Licensees
Corporations legislation	139–141
Criminal records
persons, companies with	5, 30, 31
Defalcation	3, 144–147
See also Claims of compensation
Definitions	3–7, 16, 19, 49, 55, 62, 68, 74, 78, 95, 97, 111, 141, 143, 154, 156, 157
Director
definition	3
delegation	182
powers, functions regarding
external intervention, administration	140–141
guidelines as to supervision of businesses	51
inquiries into conduct of licensees	33
inspectors	157, 161, 165, 169, 177
licence applications	20
Subject	Section
payments out of Fund	94
proceedings	185
receivers	110, 114, 129, 131–132, 137
registered education, training organisations	12
statutory managers	96, 99, 102–104, 109
See also Trust accounts and trust money
Disqualified persons
definition	3, 5
employment in conveyancing businesses	56
licensees who become	9, 26–28, 34
permission to hold licences	28–32
Entry powers See Inspectors; Receivers
Estate agents	3, 50
Evidentiary provisions	118, 122, 128, 170
External intervention
relationship of this Act to Corporations legislation	139–141
See also Receivers; Statutory managers
Fair Trading Act 1999	183
Fund See Victorian Property Fund
Incorporated legal practices	3, 8–9
Inquiries
into applicants for licences	18–21
into applicants for permission to hold licence	29–31
into conduct of licensees	33–34
into disqualified persons seeking employment	56
Inspectors
complaints about exercise of powers of	177
definition	3
disclosure of information by	174
false, misleading documents, information given to	173
identification	152, 163, 166
infringement notices served by	175
powers regarding documents, information	159–162
powers regarding documents, information held by
ADIs	158
licensees, former licensees	153–154
occupiers of premises	169, 172
owners of embargoed things	169
specified persons or bodies	154, 157
specified public bodies	156
third parties	155
powers of entry, search and seizure
assistance for inspectors	172
embargo notices	168–169
things seized	163–164, 167, 170–171
to monitor compliance with Act, regulations	163–164
with consent of occupier	163
with warrant	165–169
without consent or warrant	164
protection against self-incrimination	176
Subject	Section
Legal practices See Incorporated legal practices
Legal practitioners	8–9, 97, 111
Legal proceedings	123, 185–186
Legal work	3, 4
Licences
annual licence fee, annual statements	3, 35–38
applications
information in, required by Authority	14–16, 18–19
investigation of applicants	18–20
making of	13–15
not entitled to lodge	17
referral to Chief Commissioner, Director	20–21
refusal to consider	19
cancellation	9, 28, 34, 96, 110, 153
competency qualifications and work experience	11–12, 14
conditions	23–25, 34
definition	3
delivered up to court	9
disqualification	9, 26–28, 34
duplicates	40
eligibility	11, 33, 34
fees	11, 13, 22, 29, 30, 31, 35–37, 40
grant	22
improperly obtained, held	33
number	22
permission to hold	28–32
production for inspection	61
refusal to grant, issue	17, 18, 22, 39
Register	3, 178
requirement to be licensed	8
returned to Authority	34
review of Authority's decisions	187
surrender	153
suspension	34, 37, 43, 96, 110, 153
Licensees
affairs of (def.)	62
breaches of law by	33–34
ceasing to be	86
conflicts of interest	49
continuing professional development	46
death	86, 96, 107, 110
definition	3, 95, 143
failure to account	3, 7, 96, 110
fines	34
former licensees (def.)	95, 143
inability to obtain payment, property held by	96, 110
inquiries into conduct of	33–34
not to act as conveyancer and real estate agent	50
personal representatives of	86, 107
pretending to be licensee, authorised person	10
Subject	Section
production of information to Authority	179
production of licence	61
Register	178
relevant licensees (def.)	95
reprimands	34
rules of professional conduct	45
undertakings	34
unfit to hold licence	33
See also Conveyancing businesses; Conveyancing work; Disqualified persons; Professional indemnity insurance; Receivers; Statutory managers; Trust accounts and money
Minister	41, 94, 189
Offences and penalties
indictable offences	78
infringement notices for prescribed offences	175
proceedings	185–186
regarding
conduct of licensees	47, 49, 50, 61
conveyancing businesses	39, 51, 53–56, 58–60
disqualified persons	26–27
information required by Authority, Registrar	179, 181
inspectors	152–153, 168, 172–174
licences	16, 23, 25, 32, 34, 38
professional indemnity insurance	42, 43
receivership	116–118, 120, 138, 142
statutory managers	108, 142
trust accounts and trust money	66–73, 76, 78–81, 84–86, 93
unlicensed conveyancing	8–10
Police	117, 165
Professional indemnity insurance
as requirement for carrying out conveyancing work	41
as requirement for licences	11, 14–15, 35
cessation of cover	43–44
conditions and requirements of	41
disclosure of details to clients	42
production of documents, information by providers	154
Public bodies	156
Qualifications See Competency qualifications and work experience
Receivers
appointment	110–115
appointment to business under statutory manager	100, 111
certificates of	122
definition	3
directions from court to	135–136, 138
Subject	Section
evidentiary provisions	118, 122, 128
expenses	95, 129, 132–133
grounds for	110
hearings of applications under Part 6, Division 3	112–113
hindrance, obstruction, delay	142
participation of licensees in businesses under	116
payment of surplus money to licensees, associates	129
proceedings taken by	123
receivable property
claims to	126–127
dealings with	124
definition	95
entry, search and seizure powers	117
examinations regarding	128
improper dealings with	120
information regarding	118
investment of	130
liens	126–127
not to be attached	134
property not dealt with during receivership	129
property of associates as	115
receiver's general powers	125
recovery of compensation for disposal of	121
stop orders on money held in accounts as	119
taken, paid, transferred unlawfully	121–123
taking possession of	117
transfer, delivery to new receiver, licensee, associate	138
reimbursement for damages	131
relationship of Act to Corporations legislation	139–141
remuneration	132
reports, records of	137
termination of appointment	138
Register of Licensed Conveyancers	3, 178, 181
Registrar	3, 40, 181
Regulations
power to make, matters provided for	188
regarding
continuing professional development	46
Corporations legislation	139
businesses exempt from requirement to appoint manager	52
rules of professional conduct	45
statutory managers	106
trust accounts and money	64, 66, 68–71, 73, 80
Repeals	190
Reviews
of decisions of Authority	187
of decisions to disallow claims	146
Search powers See Inspectors; Receivers
Subject	Section
Secretary
arrangements with ADIs	91
claims against Fund	145–150
definition	3
delegation	182
Seizure See Inspectors; Receivers
Self-incrimination
protection against	176
Service of documents (General)	162, 184
Statutory managers
accounts kept by	105–106
acts of taken to be acts of licensees	101
appointment	96–99
appointment as receivers	111
cessation of appointment	109
continuation after death of licensee	107
continuation under receivership	100
dealings with trust accounts	99, 105
definitions	3, 95
expenses	95, 103
grounds for	96
hindrance, obstruction, delay	142
identification	98
participation of licensees in businesses under	108
powers, duties	98
reimbursement for costs, damages against	102
relationship of Act to Corporations legislation	139–141
reports and records	104–105
Supreme Court
powers as to external intervention, administration	141
powers as to receivers	110–115, 117, 128, 129, 132–133, 135–138
Transitional provisions	191, Sch. 1
Trust accounts and trust money
ADIs' duties	84, 91–94, 99, 158
application of Part 5 to former licensees, associates	65
audits
annual audit	84–85
approved auditors	62, 83
audit period	62
courses of education for auditors	90
directions, guidelines of Director	89
disclosure of information in course of	88
final audits	86
inability to properly, conveniently conduct	87
production of records, documents for auditor	84, 93
reports of	85–87
closing of	67
construction of references	62
controlled money, accounts	3, 62, 64, 68, 71–72, 74, 77
dealings with during statutory management	99, 105
Subject	Section
deficiencies in	62, 78, 87, 93
definitions	3, 62, 68, 74
failure to pay, deliver	78, 87
freezing of	94
general trust account	62, 66–70, 74, 77
interest	91
intermixing with other money	76
liens over	77
money subject of a power given	68
money subject of written directions	64, 68, 70–74
names under which money received, recorded	81
notice to Director	67, 79, 92
opening of	67, 92
protection of trust money	75
receipt of money	63, 74
reporting of trust balances to Director	82
statutory declarations by licensees	85–86
suspected offences, contraventions in relation to	93–94
transit money	62, 68, 73, 74, 84
trust records	62, 80–81, 87
withdrawals	70, 72
Victorian Civil and Administrative Tribunal
jurisdiction, powers regarding
decisions of Authority	187
decisions to disallow claims	146
inquiries into conduct of licensees	33–34
Victorian Property Fund
definition of Fund	3
payments into	34, 91, 94, 151
payments out of	94, 102–103, 131–132
See also Claims of compensation
Work experience See Competency qualifications and work experience