Western Australian Current Acts Western Australian Current Acts[s. 46 and 47]
[Heading amended: No. 19 of 2010 s. 35(5).]
1 . Real estate settlement agent
(1A) A word or
expression that is defined in the Electronic Conveyancing Act 2014 section 3
has the same meaning in subclause (2A) as it has in that section.
(1) A licensee who
holds a real estate settlement agent’s licence and a current triennial
certificate may perform the following functions —
(a)
searching land titles and dealings in the records of the Western Australian
Land Information Authority established by the Land Information Authority Act
2006 section 5 (the Authority ) and searching for caveats against any of those
dealings;
(b)
searching and inquiring at other Government offices and at the offices of
statutory authorities and local governments, and obtaining certificates
therefrom, in respect of records, plans and policies and making inquiries with
respect to adjustment of rates, taxes and other outgoings of a periodical
nature in respect of the real estate the subject of the transaction involved
in a settlement;
(c)
preparing a settlement statement and an authority for the payment or receipt
of moneys in respect of the transaction involved in a settlement;
(d)
arranging the payment of duty imposed under the Duties Act 2008 , and any
other imposts or fees on documents in respect of the real estate transaction;
(e)
arranging and attending on settlement, including exchanging documents and
receiving and disbursing moneys to effect the settlement;
(f)
lodging documents in respect of the real estate transaction with the Authority
or other Government offices or the offices of statutory authorities for
registration;
(ga)
providing certifications required in respect of the lodging of documents to
which paragraph (f) applies;
(g)
uplifting such documents from the Authority or other Government offices or the
offices of statutory authorities;
(h)
completing powers of attorney in such form and subject to such conditions as
are prescribed;
(i)
subject to any conditions imposed by the code of conduct,
drawing or preparing and arranging the execution of the documents set forth in
subclause (2);
(j)
reporting on the progress of the settlement to the party to the transaction by
whom the licensee was appointed to arrange or effect the settlement.
(2A) A licensee who
holds a real estate settlement agent’s licence and a current triennial
certificate may perform any function necessary to enable a conveyancing
transaction to be completed by means of an ELN, including (without limitation)
the following functions —
(a)
entering into a client authorisation to act as a subscriber;
(b) with
respect to registry instruments and other documents that a licensee is
authorised by this Act to prepare —
(i)
preparing them in electronic form for lodging by means of
an ELN;
(ii)
digitally signing them;
(iii)
lodging them in electronic form with the Authority or
other Government offices or the offices of statutory authorities by means of
an ELN;
(iv)
providing certifications required in respect of, or in
connection with, the lodging of those registry instruments or other documents
by means of an ELN;
(c)
doing anything necessary to enable the completion of an associated financial
transaction.
(2) A licensee who
holds a real estate settlement agent’s licence and a current triennial
certificate may draw or prepare the following documents —
(a) an
offer and acceptance form in such form and subject to such conditions as are
prescribed;
(b)
requisitions on title in such form and subject to such conditions as are
prescribed;
(c) such
documents that are to be registered or lodged under or for the purposes of the
—
(i)
Land Act 1933 4 ; or
(ii)
Registration of Deeds Act 1856 ; or
(iia)
the Community Titles Act 2018 ; or
(iii)
Strata Titles Act 1985 ; or
(iv)
Transfer of Land Act 1893 ,
as are prescribed and
subject to such conditions as are prescribed;
(d) a
statutory declaration to support any of the documents that are referred to in
paragraphs (a) and (b) or that are prescribed under paragraph (c);
(e) a
declaration to confirm that a power of attorney remains unrevoked.
[Clause 1 amended: No. 58 of 1995 s. 98; No. 14 of
1996 s. 4; No. 62 of 1996 s. 5(1); No. 81 of 1996 s. 153(1); No. 60 of 2006 s.
158; No. 12 of 2008 Sch. 1 cl. 34; No. 2 of 2014 s. 58; No. 32 of 2018 s.
249.]
A licensee who holds a
business settlement agent’s licence and a current triennial certificate
may perform the following functions —
(a)
searching and inquiring at Government offices and at the offices of statutory
authorities and local governments, in respect of records, registers, plans and
policies relating to the business the subject of the transaction involved in a
settlement;
(b)
making inquiries in respect of adjustments for long service leave or holiday
pay, rent, leased or hired plant or equipment, rates, taxes and other
outgoings of a periodical nature;
(c)
arranging the employment of a stocktaker;
(d)
arranging the transfer of facilities and services provided to the business the
subject of the transaction involved in a settlement;
(e)
arranging the payment of duty imposed under the Duties Act 2008 , and any
other imposts or fees on documents in respect of the business transaction;
(f)
arranging and attending on settlement, including exchanging documents and
receiving and disbursing moneys to effect the settlement;
(g)
lodging documents in respect of the business transaction at Government offices
or the offices of statutory authorities for registration;
(h)
subject to such conditions as are imposed by the code of conduct, preparing
and arranging the execution of any applications necessary under the
Business Names Registration Act 2011 (Commonwealth) to effect the transfer of
a business name under that Act;
(i)
reporting on the progress of the settlement to the party
to the transaction by whom the licensee was appointed to arrange or effect the
settlement.
[Clause 2 amended: No. 14 of 1996 s. 4; No. 62 of
1996 s. 5(2); No. 81 of 1996 s. 153(2); No. 12 of 2008 Sch. 1 cl. 34; No. 42
of 2011 s. 59; No. 6 of 2012 s. 43.]
This is a compilation of the Settlement Agents Act 1981 and includes
amendments made by other written laws. For provisions that have come into
operation, and for information about any reprints, see the compilation table.
|
Short title |
Number and year |
Assent |
Commencement |
|---|---|---|---|
|
33 of 1981 |
26 May 1981 |
1 Jul 1981 (see s. 2 and Gazette 26 Jun 1981 p. 2285) | |
|
10 of 1982 |
14 May 1982 |
1 Jul 1982 (see s. 2(1) and Gazette 25 Jun 1982 p. 2079) | |
|
Settlement Agents Amendment Act 1982 |
64 of 1982 |
19 Oct 1982 |
19 Oct 1982 |
|
Acts Amendment (Financial Administration and Audit) Act 1985 s. 3 |
98 of 1985 |
4 Dec 1985 |
1 Jul 1986 (see s. 2 and Gazette 30 Jun 1986 p. 2255) |
|
State Government Insurance Commission Act 1986 s. 46(2) |
51 of 1986 |
5 Aug 1986 |
1 Jan 1987 (see s. 2 and Gazette 19 Dec 1986 p. 4859) |
|
Acts Amendment (Legal Practitioners, Costs and Taxation) Act 1987 Pt. XVI |
65 of 1987 |
1 Dec 1987 |
12 Feb 1988 (see s. 2(2) and Gazette 12 Feb 1988 p. 397) |
|
R & I Bank Act 1990 s. 45(1) |
73 of 1990 |
20 Dec 1990 |
1 Jan 1991 (see s. 2(2) and Gazette 28 Dec 1990 p. 6369) |
|
Acts Amendment (Public Sector Management) Act 1994 s. 3(2) |
32 of 1994 |
29 Jun 1994 |
1 Oct 1994 (see s. 2 and Gazette 30 Sep 1994 p. 4948) |
|
Statutes (Repeals and Minor Amendments) Act 1994 s. 4 |
73 of 1994 |
9 Dec 1994 |
9 Dec 1994 (see s. 2) |
|
Business Licensing Amendment Act 1995 Pt. 9 |
56 of 1995 |
20 Dec 1995 |
1 Jul 1996 (see s. 2(2) and Gazette 1 Jul 1996 p. 3179) |
|
Strata Titles Amendment Act 1995 s. 98 |
58 of 1995 |
20 Dec 1995 |
14 Apr 1996 (see s. 2 and Gazette 15 Mar 1996 p. 981) |
|
Real Estate Legislation Amendment Act 1995 Pt. 4 5 |
59 of 1995 |
20 Dec 1995 |
1 Jul 1996 (see s. 2 and Gazette 25 Jun 1996 p. 2902) |
|
Local Government (Consequential Amendments) Act 1996 s. 4 |
14 of 1996 |
28 Jun 1996 |
1 Jul 1996 (see s. 2) |
|
Reprint of the Settlement Agents Act 1981 as at 23 Sep 1996 (includes
amendments listed above) | |||
|
Settlement Agents Amendment Act 1996 |
62 of 1996 |
11 Nov 1996 |
s. 1 and 2: 11 Nov 1996; |
|
Transfer of Land Amendment Act 1996 s. 153(1) and (2) |
81 of 1996 |
14 Nov 1996 |
14 Nov 1996 (see s. 2(1)) |
|
Acts Amendment (Land Administration) Act 1997 s. 141 |
31 of 1997 |
3 Oct 1997 |
30 Mar 1998 (see s. 2 and Gazette 27 Mar 1998 p. 1765) |
|
Acts Amendment and Repeal (Financial Sector Reform) Act 1999 s. 102 |
26 of 1999 |
29 Jun 1999 |
1 Jul 1999 (see s. 2(1) and Gazette 30 Jun 1999 p. 2905) |
|
Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000 Pt. 3 2 |
3 of 2000 |
12 Apr 2000 |
12 Apr 2000 (see s. 2) |
|
Reprint of the Settlement Agents Act 1981 as at 3 Nov 2000 (includes
amendments listed above) | |||
|
Corporations (Consequential Amendments) Act 2001 s. 220 and 222 |
10 of 2001 |
28 Jun 2001 |
15 Jul 2001 (see s. 2 and Gazette 29 Jun 2001 p. 3257 and Cwlth Gazette 13
Jul 2001 No. S285) |
|
Corporations (Consequential Amendments) Act (No. 3) 2003 Pt. 13 6 |
21 of 2003 |
23 Apr 2003 |
11 Mar 2002 (see s. 2 and Cwlth Gazette 24 Oct 2001 No. GN42) |
|
Acts Amendment (Equality of Status) Act 2003 Pt. 53 |
28 of 2003 |
22 May 2003 |
1 Jul 2003 (see s. 2 and Gazette 30 Jun 2003 p. 2579) |
|
Acts Amendment and Repeal (Courts and Legal Practice) Act 2003 s. 66 |
65 of 2003 |
4 Dec 2003 |
1 Jan 2004 (see s. 2 and Gazette 30 Dec 2003 p. 5722) |
|
Statutes (Repeals and Minor Amendments) Act 2003 s. 109 |
74 of 2003 |
15 Dec 2003 |
15 Dec 2003 (see s. 2) |
|
Courts Legislation Amendment and Repeal Act 2004 s. 141 |
59 of 2004 |
23 Nov 2004 |
1 May 2005 (see s. 2 and Gazette 31 Dec 2004 p. 7128) |
|
State Administrative Tribunal (Conferral of Jurisdiction) Amendment and Repeal
Act 2004 Pt. 2 Div. 118 7 |
55 of 2004 |
24 Nov 2004 |
1 Jan 2005 (see s. 2 and Gazette 31 Dec 2004 p. 7130) |
|
Criminal Procedure and Appeals (Consequential and Other Provisions) Act 2004
s. 80 and 82 |
84 of 2004 |
16 Dec 2004 |
2 May 2005 (see s. 2 and Gazette 31 Dec 2004 p. 7129 (correction in Gazette
7 Jan 2005 p. 53)) |
|
Reprint 3: The Settlement Agents Act 1981 as at 8 Jul 2005 (includes
amendments listed above) | |||
|
Oaths, Affidavits and Statutory Declarations (Consequential Provisions) Act
2005 s. 63 |
24 of 2005 |
2 Dec 2005 |
1 Jan 2006 (see s. 2(1) and Gazette 23 Dec 2005 p. 6244) |
|
Planning and Development (Consequential and Transitional Provisions) Act 2005
s. 15 |
38 of 2005 |
12 Dec 2005 |
9 Apr 2006 (see s. 2 and Gazette 21 Mar 2006 p. 1078) |
|
60 of 2006 |
16 Nov 2006 |
1 Jan 2007 (see s. 2(1) and Gazette 8 Dec 2006 p. 5369) | |
|
Consumer Protection Legislation Amendment and Repeal Act 2006 Pt. 11 |
69 of 2006 |
13 Dec 2006 |
14 Jul 2007 (see s. 2 and Gazette 13 Jul 2007 p. 3453) |
|
Financial Legislation Amendment and Repeal Act 2006 Sch. 1 cl. 156 |
77 of 2006 |
21 Dec 2006 |
1 Feb 2007 (see s. 2(1) and Gazette 19 Jan 2007 p. 137) |
|
Reprint 4: The Settlement Agents Act 1981 as at 25 May 2007 (includes
amendments listed above except those in the Consumer Protection Legislation
Amendment and Repeal Act 2006 ) | |||
|
Duties Legislation Amendment Act 2008 Sch. 1 cl. 34 |
12 of 2008 |
14 Apr 2008 |
1 Jul 2008 (see s. 2(d)) |
|
Legal Profession Act 2008 s. 704 |
21 of 2008 |
27 May 2008 |
1 Mar 2009 (see s. 2(b) and Gazette 27 Feb 2009 p. 511) |
|
Statutes (Repeals and Miscellaneous Amendments) Act 2009 s. 117 |
8 of 2009 |
21 May 2009 |
22 May 2009 (see s. 2(b)) |
|
Acts Amendment (Bankruptcy) Act 2009 s. 80 |
18 of 2009 |
16 Sep 2009 |
17 Sep 2009 (see s. 2(b)) |
|
Statutes (Repeals and Minor Amendments) Act 2009 s. 15 |
46 of 2009 |
3 Dec 2009 |
4 Dec 2009 (see s. 2(b)) |
|
Reprint 5: The Settlement Agents Act 1981 as at 26 Mar 2010 (includes
amendments listed above) | |||
|
Credit (Commonwealth Powers) (Transitional and Consequential Provisions) Act
2010 s. 79 |
14 of 2010 |
25 Jun 2010 |
1 Jul 2010 (see s. 2(b) and Gazette 30 Jun 2010 p. 3185) |
|
Standardisation of Formatting Act 2010 s. 35 and 51 |
19 of 2010 |
28 Jun 2010 |
11 Sep 2010 (see s. 2(b) and Gazette 10 Sep 2010 p. 4341) |
|
Public Sector Reform Act 2010 s. 89 |
39 of 2010 |
1 Oct 2010 |
1 Dec 2010 (see s. 2(b) and Gazette 5 Nov 2010 p. 5563) |
|
Acts Amendment (Fair Trading) Act 2010 Pt. 7 |
58 of 2010 |
8 Dec 2010 |
1 Jul 2011 (see s. 2(c) and Gazette 7 Jun 2011 p. 2057) |
|
Personal Property Securities (Consequential Repeals and Amendments) Act 2011
Pt. 4 Div. 8 |
42 of 2011 |
4 Oct 2011 |
30 Jan 2012 (see s. 2(c) and Cwlth Legislative Instrument No. F2011L02397 cl.
5 registered 21 Nov 2011) |
|
Reprint 6: The Settlement Agents Act 1981 as at 11 Nov 2011 (includes
amendments listed above except those in the Personal Property Securities
(Consequential Repeals and Amendments) Act 2011 ) | |||
|
Business Names (Commonwealth Powers) Act 2012 Pt. 4 Div. 4 |
6 of 2012 |
10 Apr 2012 |
28 May 2012 (see s. 2(c) and Cwlth Gazette 19 Apr 2012 ref. F2012L00891) |
|
2 of 2014 |
24 Mar 2014 |
3 Jun 2014 (see s. 2(c) and Gazette 30 May 2014 p. 1679) | |
|
Consumer Protection Legislation Amendment Act 2014 Pt. 14 |
23 of 2014 |
9 Oct 2014 |
19 Nov 2014 (see s. 2(b) and Gazette 18 Nov 2014 p. 4315) |
|
Reprint 7: The Settlement Agents Act 1981 as at 13 Mar 2015 (includes
amendments listed above) | |||
|
Licensing Provisions Amendment Act 2016 Pt. 8 |
44 of 2016 |
1 Dec 2016 |
1 Jul 2017 (see s. 2(b) and Gazette 30 Jun 2017 p. 3551) |
|
Strata Titles Amendment Act 2018 Pt. 3 Div. 21 |
30 of 2018 |
19 Nov 2018 |
1 May 2020 (see s. 2(b) and SL 2020/39 cl. 2) |
|
Community Titles Act 2018 Pt. 14 Div. 21 |
32 of 2018 |
19 Nov 2018 |
30 Jun 2021 (see s. 2(b) and SL 2021/69 cl. 2) |
|
Consumer Protection Legislation Amendment Act 2019 Pt. 10 |
25 of 2019 |
24 Oct 2019 |
1 Jan 2020 (see s. 2(b) and Gazette 24 Dec 2019 p. 4415) |
|
Mutual Recognition (Western Australia) Amendment Act 2022 Pt. 3 Div. 12 |
7 of 2022 |
29 Mar 2022 |
1 Jul 2022 (see s. 2(b) and SL 2022/80 cl. 2) |
|
9 of 2022 |
14 Apr 2022 |
1 Jul 2022 (see s. 2(c) and SL 2022/113 cl. 2) | |
1 The appointed day is 1 Nov 1982, see Gazette 29
Oct 1982 p. 4322.
2 The Real Estate Legislation (Fidelity Guarantee
Funds) Amendment Act 2000 s. 7(2) and (3) read as follows:
(2) A person may give
notice of a claim under section 93(2) as amended by this section even if the
time within which that notice was to be given under that section before that
amendment had expired.
(3) Where a person may
give notice of a claim under section 93(2) as amended by this section, notice
of the claim given by the person previously in writing to the Board (whether
or not dealt with by the Board) is to be taken to be notice of the claim for
the purposes of that section.
3 Repealed by the Real Estate and Business Agents
Act 1978 s. 5.
4 Repealed by the Land Administration Act 1997 s.
281.
5 The Real Estate Legislation Amendment Act 1995
s. 65(2) and 87 are saving and transitional provisions that are of no further
effect.
6 The Corporations (Consequential Amendments) Act
(No. 3) 2003 s. 2-4 contain validation provisions for certain acts and
omissions occurring before 23 Apr 2003.
7 The State Administrative Tribunal (Conferral of
Jurisdiction) Amendment and Repeal Act 2004 Pt. 5, the State Administrative
Tribunal Act 2004 s. 167 and 169, and the State Administrative Tribunal
Regulations 2004 r. 28 and 42 deal with certain transitional issues some of
which may be relevant for this Act.
Defined terms
[This is a list of terms defined and the provisions where they
are defined. The list is not part of the law.]
Defined term Provision(s)
Account
3(1)
agent 49(5b)
appointed day
3(1), 26(2)
approved
3(1)
auditor 3(1)
authorised financial institution
48
Authority Sch. 2
cl. 1(1)
bank 3(1)
bank account
48
banker 48
body corporate
36(3)
business 3(1)
business
day 48
business licence
Sch. 1 cl. 6
business settlement agent 3(1)
business transaction 3(1)
code of conduct
3(1)
commencement day 124
Commissioner 3(1)
defalcation by a licensee
3(1)
department 3(1)
discharge of mortgage 46(7)
Fidelity Guarantee
Account 3(1)
fidelity guarantee fee
3(1)
fit and proper 27(2)
former
Board 124
former Registrar
124
General Purpose Account 3(1)
Interest
Account 3(1)
land 3(1)
liability 124
licence
3(1)
licensed 3(1)
licensee
3(1), 34AA(1)
person aggrieved 23(2)
prescribed financial market 36(4)
real estate
3(1)
real estate settlement agent
3(1)
real estate transaction 3(1)
renewal 3(1)
request
49A(7)
reviewable decision 23(2)
reward
3(1)
right 124
separate
account 48
settlement
3(1)
settlement agent 3(1), 4(1), 73(5)
settlement
agents’ code of conduct 3(1)
specified
135(6)
supervisor 3(1)
transaction 3(1)
transitional matter
135(2)
Treasurer 3(1)
Treasury
3(1)
triennial certificate
3(1)
trust account 73(5)
trust accounts
48
trustee company
3(1)
vendor 49(5b)
year
48