{"id":"nsw:sl-2021-0550","name":"Conveyancers Licensing Regulation 2021","slug":"conveyancers-licensing-regulation-2021","collection":"regulation","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"550 of 2021","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":176251,"registerId":"nsw-nsw:sl-2021-0550-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"# Part 1 Preliminary\n\nPart 1 Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Name of Regulation","content":"#### 1 Name of Regulation\n\n1 Name of Regulation\n\n> This Regulation is the [Conveyancers Licensing Regulation 2021](/view/html/inforce/current/sl-2021-0550).","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> This Regulation commences on the day on which it is published on the NSW legislation website.\n> \n> Note—\n> \n> This Regulation repeals and replaces the [Conveyancers Licensing Regulation 2015](/view/html/repealed/current/sl-2015-0495), which would otherwise be repealed on 1 September 2022 by the [Subordinate Legislation Act 1989](/view/html/inforce/current/act-1989-146), section 10(2).","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Definitions","content":"#### 3 Definitions\n\n3 Definitions\n\n> In this Regulation—\n> \n> fee unit—see Schedule 1, Part 2.\n> \n> the Act means the [Conveyancers Licensing Act 2003](/view/html/inforce/current/act-2003-003).\n> \n> Note—\n> \n> The Act and the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) contain definitions and other provisions that affect the interpretation and application of this Regulation.","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"Operating Account—the Act, s 90","content":"#### 4 Operating Account—the Act, s 90\n\n4 Operating Account—the Act, s 90\n\n> The departmental account known as the Compensation Fund is prescribed for the purposes of the Act, section 90, definition of Operating Account.","sortOrder":4},{"sectionNumber":"Part 2","sectionType":"part","heading":"Licensing","content":"# Part 2 Licensing\n\nPart 2 Licensing","sortOrder":5},{"sectionNumber":"5","sectionType":"section","heading":"Fees for licence—the Act, ss 12 and 89","content":"#### 5 Fees for licence—the Act, ss 12 and 89\n\n5 Fees for licence—the Act, ss 12 and 89\n\n> > (1) The application fees payable for the purposes of the Act are listed in Schedule 1, Part 1.\n> \n> > (2) An amount specified for an application fee in Schedule 1, Part 1, Column 3 under the heading **Processing component** is taken to be a fee to cover the costs incurred by the Secretary in processing the application.\n> > \n> > Note—\n> > \n> > This amount is consequently a processing fee for the purposes of the [Licensing and Registration (Uniform Procedures) Act 2002](/view/html/inforce/current/act-2002-028), Part 2. If an application is made by electronic communication, the processing fee is discounted (see that Act, section 13). If an application is refused or withdrawn, the applicant is entitled to a refund of all fees paid, other than the processing fee (see that Act, section 22).\n> \n> > (3) The total application fee is set out in Schedule 1, Part 1, Column 4.\n> \n> > (4) Additionally, licence holders must pay the contribution to, and any levy for, the Compensation Fund required under the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066), section 167A, 168 or 169.\n> > \n> > Note—\n> > \n> > See the [Conveyancers Licensing Act 2003](/view/html/inforce/current/act-2003-003), section 89.\n> \n> > (5) A licence holder must pay the same contribution to the Compensation Fund as the holder of a class 1 licence under the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066).\n> \n> **s 5:** Am 2025 (275), Sch 1\\[1\\]–\\[5\\].","sortOrder":6},{"sectionNumber":"6","sectionType":"section","heading":"Professional indemnity insurance—the Act, s 15","content":"#### 6 Professional indemnity insurance—the Act, s 15\n\n6 Professional indemnity insurance—the Act, s 15\n\n> > (1) A licensee must, when carrying out conveyancing work, be insured under a policy of professional indemnity as required under subsection (2).\n> \n> > (2) The licensee is insured as required under this section if—\n> > \n> > > (a) the licensee is insured under an approved professional indemnity insurance policy in force with respect to the licensee or the licensee’s employer, or\n> > \n> > > (b) the licensee carries out conveyancing work only in the licensee’s capacity as an employee of a complying law practice.\n> \n> > (3) In this section—\n> > \n> > approved professional indemnity insurance policy means a policy, or a policy of a kind, that is approved by the Secretary for the time being by order published on the NSW legislation website.\n> > \n> > complying law practice has the same meaning as a law practice in the [Legal Profession Uniform Law (NSW)](/view/html/inforce/current/act-2014-16a) that complies with the relevant requirements of the Law, Part 4.4.","sortOrder":7},{"sectionNumber":"Part 3","sectionType":"part","heading":"Conduct of conveyancing business","content":"# Part 3 Conduct of conveyancing business\n\nPart 3 Conduct of conveyancing business","sortOrder":8},{"sectionNumber":"7","sectionType":"section","heading":"Exemptions from provisions authorising person in charge of business—the Act, s 20","content":"#### 7 Exemptions from provisions authorising person in charge of business—the Act, s 20\n\n7 Exemptions from provisions authorising person in charge of business—the Act, s 20\n\n> > (1) The Secretary must take into account the following matters in considering whether to grant an exemption from a provision of the Act, section 20 that will authorise a licensee to be the person in charge of business (the licensee-in-charge) at more than 1 place of business of a licensee or to exercise functions or provide services on behalf of 2 or more licensees at a place of business—\n> > \n> > > (a) the reasons given by the licensee for why the exemption is needed,\n> > \n> > > (b) the licensee’s previous experience as licensee-in-charge at a place of business of a licensee,\n> > \n> > > (c) the capacity of the licensee to comply with any guidelines issued by the Secretary under the Act, section 21(3),\n> > \n> > > (d) the record of the licensee regarding compliance with—\n> > > \n> > > > (i) the conditions of a licence held at any time by a licensee under the [Conveyancers Licensing Act 1992](/view/pdf/asmade/act-1992-55), the [Conveyancers Licensing Act 1995](/view/html/repealed/current/act-1995-057) or the [Conveyancers Licensing Act 2003](/view/html/inforce/current/act-2003-003), and\n> > > \n> > > > (ii) the provisions of the Act under which the licence was held and the regulations under that Act, and\n> > > \n> > > > (iii) the relevant provisions of the [Legal Profession Act 1987](/view/html/repealed/current/act-1987-109) and the [Legal Profession Act 2004](/view/html/repealed/current/act-2004-112), and the relevant provisions of the regulations under those Acts, and\n> > > \n> > > > (iv) the relevant provisions of the [Legal Profession Uniform Law (NSW)](/view/html/inforce/current/act-2014-16a) and the [Legal Profession Uniform Law Application Act 2014](/view/html/inforce/current/act-2014-016), and the relevant provisions of the rules and regulations under those Acts,\n> > \n> > > (e) employer references for the licensee’s experience as a licensee-in-charge.\n> \n> > (2) The Secretary must take into account the following additional matters in considering whether to grant an exemption from the Act, section 20(1), (2) or (3) that will authorise a licensee to be the licensee-in-charge at more than 1 place of business of a licensee—\n> > \n> > > (a) the capacity of the licensee to properly supervise the conduct of business at more than 1 place of business,\n> > \n> > > (b) the office systems proposed to be established at each place of business to provide for accountability to the licensee-in-charge at each place of business,\n> > \n> > > (c) the proposed staffing and office management arrangements at each place of business,\n> > \n> > > (d) whether there is a centralised trust account for the deposit of trust money received in connection with the businesses for which the licensee will be the licensee-in-charge under the exemption.\n> \n> > (3) The Secretary must take into account the following additional matters in considering whether to grant an exemption from the Act, section 20(4) that will authorise a licensee employed as the licensee-in-charge at a place of business to exercise functions or provide services on behalf of 2 or more licensees (the principal licensees) at the place of business—\n> > \n> > > (a) the capacity of the licensee to properly supervise the conduct of business of more than 1 principal licensee,\n> > \n> > > (b) the fiduciary safeguards and office systems proposed to be established to provide for accountability to the licensee-in-charge,\n> > \n> > > (c) whether separate trust accounts are in place for the deposit of trust money received in connection with the business of each principal licensee.","sortOrder":9},{"sectionNumber":"8","sectionType":"section","heading":"Rules of conduct—the Act, s 22","content":"#### 8 Rules of conduct—the Act, s 22\n\n8 Rules of conduct—the Act, s 22\n\n> > (1) The rules set out in Schedule 2 are prescribed as rules of conduct for the conduct of a conveyancing business or the exercise of functions under a licence.\n> \n> > (2) A licensee must comply with the rules set out in Schedule 2 in the course of conducting a conveyancing business or exercising functions under a licence.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":10},{"sectionNumber":"9","sectionType":"section","heading":"Conduct of other businesses—the Act, s 28","content":"#### 9 Conduct of other businesses—the Act, s 28\n\n9 Conduct of other businesses—the Act, s 28\n\n> > (1) A licensee who conducts a conveyancing business, or is employed in the conduct of a conveyancing business, is prohibited from conducting, or being employed in the conduct of, the business of an agent.\n> \n> > (2) In this section—\n> > \n> > agent means an agent within the meaning of the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066).","sortOrder":11},{"sectionNumber":"10","sectionType":"section","heading":"Obligation to disclose certain matters to client—the Act, s 36","content":"#### 10 Obligation to disclose certain matters to client—the Act, s 36\n\n10 Obligation to disclose certain matters to client—the Act, s 36\n\n> > (1) For the purposes of the Act, section 36(2)(f), the following matters are prescribed as matters that must be disclosed to the client—\n> > \n> > > (a) if the amount of the costs for the conveyancing work is not known—an estimate of the costs for the conveyancing work,\n> > \n> > > (b) if, in the conduct of the matter, the licensee will carry out both conveyancing work and non-conveyancing work for the client—\n> > > \n> > > > (i) the fact that some of the work is non-conveyancing work, and\n> > > \n> > > > (ii) the nature of the non-conveyancing work.\n> \n> > (2) In this section—\n> > \n> > non-conveyancing work means work that is not conveyancing work.","sortOrder":12},{"sectionNumber":"11","sectionType":"section","heading":"Itemised account—the Act, s 67","content":"#### 11 Itemised account—the Act, s 67\n\n11 Itemised account—the Act, s 67\n\n> > (1) A person may serve a request for an itemised account under the Act, section 67 on the licensee by—\n> > \n> > > (a) delivering it personally to the licensee, or\n> > \n> > > (b) leaving it for the licensee at a place of business of the licensee, or\n> > \n> > > (c) sending it by post to the licensee at the address of a place of business of the licensee, or\n> > \n> > > (d) sending it by email to the licensee at an email address provided by the licensee for the service of documents of that kind.\n> \n> > (2) The licensee may give the itemised account to the person by—\n> > \n> > > (a) delivering it personally to the person, or\n> > \n> > > (b) leaving it for the person at an address specified as the person’s address in the request, or\n> > \n> > > (c) sending it by post to the person at an address specified as the person’s address in the request, or\n> > \n> > > (d) sending it by email to the person at an email address provided by the person for the service of documents of that kind.","sortOrder":13},{"sectionNumber":"Part 4","sectionType":"part","heading":"Resolution of costs disputes","content":"# Part 4 Resolution of costs disputes\n\nPart 4 Resolution of costs disputes","sortOrder":14},{"sectionNumber":"12","sectionType":"section","heading":"Notifying Tribunal of costs dispute—the Act, s 43(1)","content":"#### 12 Notifying Tribunal of costs dispute—the Act, s 43(1)\n\n12 Notifying Tribunal of costs dispute—the Act, s 43(1)\n\n> A notification to the Tribunal of a costs dispute must be made—\n> \n> > (a) in writing and otherwise in accordance with the requirements for making applications to the Tribunal under the [Civil and Administrative Tribunal Act 2013](/view/html/inforce/current/act-2013-002), and\n> \n> > (b) within 60 days after the licensee has given the client the bill or account for the costs the subject of the dispute.","sortOrder":15},{"sectionNumber":"13","sectionType":"section","heading":"Costs of assessment—the Act, s 45","content":"#### 13 Costs of assessment—the Act, s 45\n\n13 Costs of assessment—the Act, s 45\n\n> If the Tribunal refers a costs dispute to an independent expert for assessment, the parties must bear the costs of the assessment in the way ordered by the Tribunal.","sortOrder":16},{"sectionNumber":"14","sectionType":"section","heading":"Transfer of proceedings to or from other courts or tribunals—the Act, s 50(2)","content":"#### 14 Transfer of proceedings to or from other courts or tribunals—the Act, s 50(2)\n\n14 Transfer of proceedings to or from other courts or tribunals—the Act, s 50(2)\n\n> > (1) Proceedings must be transferred by order of the court hearing the costs dispute.\n> \n> > (2) Notice of the transfer must be given to the principal registrar of the Tribunal by the registrar of the court hearing the costs dispute.\n> \n> > (3) All documents relating to the proceedings in the custody of the court hearing the costs dispute must be transferred by the registrar of the court to the principal registrar of the Tribunal.\n> \n> > (4) On receiving the notice of transfer and accompanying documents, the principal registrar must serve on the parties a notice fixing a date and time for the holding of the hearing or a directions hearing for the proceedings.","sortOrder":17},{"sectionNumber":"Part 5","sectionType":"part","heading":"Trust money","content":"# Part 5 Trust money\n\nPart 5 Trust money","sortOrder":18},{"sectionNumber":"Division 1","sectionType":"division","heading":"General","content":"## Division 1 General\n\nDivision 1 General","sortOrder":19},{"sectionNumber":"15","sectionType":"section","heading":"Definitions","content":"#### 15 Definitions\n\n15 Definitions\n\n> In this Part—\n> \n> cash book means the record required to be kept under section 17(c).\n> \n> trust account means a trust account required to be maintained under the Act, section 53.\n> \n> trust receipt book means the record required to be kept under section 17(a).\n> \n> viewable form, in relation to a record, means a form that enables the production of the record, on demand, in permanent legible form in the English language.","sortOrder":20},{"sectionNumber":"16","sectionType":"section","heading":"Keeping of records generally","content":"#### 16 Keeping of records generally\n\n16 Keeping of records generally\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must keep the records required to be kept under this Part in viewable form.\n> \n> > (2) A licensee must keep the records, including any records kept electronically, at the place of business where the licensee conducts the conveyancing business under the licence.\n> \n> > (3) A licensee who conducts a conveyancing business under a licence at more than 1 place of business is taken to comply with subsection (2) if the licensee—\n> > \n> > > (a) keeps the records relating to business transacted at a particular place of business at that place of business, or\n> > \n> > > (b) keeps the records relating to the business transacted at each place of business at 1 place of business specified in a written notice given to the Secretary.\n> \n> > (4) A licensee must, within 21 days after the end of each named month—\n> > \n> > > (a) compile with the records kept by the licensee under this Part the original, or a true copy, of the trial balance statement prepared by the licensee in accordance with section 28 for the named month, and\n> > \n> > > (b) maintain a summary of the total of trust money disclosed in the trial balance statements for the named month.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":21},{"sectionNumber":"17","sectionType":"section","heading":"Specific records to be kept by licensees","content":"#### 17 Specific records to be kept by licensees\n\n17 Specific records to be kept by licensees\n\n> For the purposes of the Act, section 172(2)(d), a licensee must keep the following records—\n> \n> > (a) a trust receipt book containing the duplicates of all receipts issued from the trust receipt book, with the duplicates being machine-numbered consecutively to correspond with the machine-numbered receipts,\n> \n> > (b) a deposit book of an authorised deposit-taking institution approved by the Secretary under the Act, section 54, for the purposes of the Act, Part 5, showing all deposits made by the licensee into the trust account or other written or electronic record showing the deposits,\n> \n> > (c) a trust account cash book or other written or electronic record of all receipts of amounts required to be paid into, and of all payments made from, the trust account.","sortOrder":22},{"sectionNumber":"18","sectionType":"section","heading":"Electronic records","content":"#### 18 Electronic records\n\n18 Electronic records\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee who keeps records for the purposes of this Part electronically must comply with this section.\n> > \n> > Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.\n> \n> > (2) The licensee must keep a record, compiled in chronological sequence, of all changes, by creation, amendment or deletion, to any of the following information kept electronically, showing the details of the information before and after the change—\n> > \n> > > (a) client name,\n> > \n> > > (b) client address,\n> > \n> > > (c) matter number,\n> > \n> > > (d) matter description,\n> > \n> > > (e) client number,\n> > \n> > > (f) trust account number.\n> \n> > (3) The licensee must ensure that computer programs relating to ledgers are not capable of the following—\n> > \n> > > (a) accepting the entry of a transaction resulting in a debit balance to an account unless a contemporaneous record of the transaction is made in a way that enables the production in viewable form, of a separate chronological report of each transaction,\n> > \n> > > (b) amending the particulars of a transaction already recorded otherwise than by a separate transaction effecting the amendment,\n> > \n> > > (c) deleting an account unless—\n> > > \n> > > > (i) the balance of the account is zero, and\n> > > \n> > > > (ii) when the account is deleted, a record of the account will be kept in viewable form.\n> \n> > (4) The licensee must also ensure the following—\n> > \n> > > (a) each computer program requires input in each field of a data entry screen intended to receive information required, under this Regulation, to be included in trust records,\n> > \n> > > (b) entries in the ledger of a journal balance before further entries are made,\n> > \n> > > (c) journal reference numbers are allocated in sequence by the computer program,\n> > \n> > > (d) entries in a record kept in viewable form appear in chronological sequence,\n> > \n> > > (e) a report, or each page of or entry in a report, is numbered in sequence by the computer program in a manner that enables easy verification of the completeness of the records required to be kept under this Regulation,\n> > \n> > > (f) a back-up copy of all records required to be kept under this Regulation that are kept electronically is made by electronic means at least once in every four weeks,\n> > \n> > > (g) the most recent back-up copy is kept in a place where any incident, including, for example, a power failure, that could adversely affect the records would not also affect the back-up copy.\n> \n> **s 18:** Am 2024 No 25, Sch 2.2\\[1\\] \\[2\\].","sortOrder":23},{"sectionNumber":"19","sectionType":"section","heading":"Statements of account—the Act, s 172","content":"#### 19 Statements of account—the Act, s 172\n\n19 Statements of account—the Act, s 172\n\n> > (1) A licensee must give each person for whom or on whose behalf money is held by the licensee a separate statement of account for the ledger account maintained for the person.\n> \n> > (2) The statement of account must be given—\n> > \n> > > (a) within 14 days after the licensee receives a written request for the statement from the person, and\n> > \n> > > (b) within 21 days after each of the following—\n> > > \n> > > > (i) completion of the matter to which the ledger account relates,\n> > > \n> > > > (ii) the closure and removal of the account from the relevant ledger,\n> > > \n> > > > (iii) except as provided by subsection (4)—31 March and 30 September in each year.\n> \n> > (3) The statement of account must—\n> > \n> > > (a) contain the following particulars—\n> > > \n> > > > (i) the money received and held by the licensee for or on behalf of the person during the licensee’s conveyancing business,\n> > > \n> > > > (ii) the disbursement of the money,\n> > > \n> > > > (iii) the remaining balance of the money, and\n> > \n> > > (b) identify the transactions to which the particulars relate.\n> \n> > (4) A licensee is not required to give a statement of account under subsection (2)(b)(iii) if, at the relevant day—\n> > \n> > > (a) the account has been open for less than 6 months, or\n> > \n> > > (b) the balance of the account is zero and no transaction affecting the account has taken place within the preceding 6 months, or\n> > \n> > > (c) a statement of account has been given within the preceding 6 months and there has been no subsequent transaction affecting the account, or\n> > \n> > > (d) the licensee has received a notice under subsection (5) waiving compliance with the requirement and has not received notice of revocation of the waiver.\n> \n> > (5) A person for whom or on whose behalf money is held by a licensee—\n> > \n> > > (a) may, by written notice to the licensee in the form approved by the Secretary, waive compliance by the licensee with the requirements of subsection (2)(b)(iii), and\n> > \n> > > (b) may, by further written notice to the licensee, revoke the waiver.\n> \n> > (6) A licensee must keep a copy of a statement of account with the file to which it relates.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":24},{"sectionNumber":"20","sectionType":"section","heading":"Receipt and withdrawal of money for costs and disbursements—the Act, s 53(3)(a)","content":"#### 20 Receipt and withdrawal of money for costs and disbursements—the Act, s 53(3)(a)\n\n20 Receipt and withdrawal of money for costs and disbursements—the Act, s 53(3)(a)\n\n> > (1) This section prescribes the procedure a licensee must follow to withdraw or receive, from trust money, money due to the licensee for costs.\n> \n> > (2) The licensee—\n> > \n> > > (a) must have disclosed, under the Act, Part 3, Division 5, the costs and other matters required to be disclosed under the Act, section 36 to the person from whom or on whose behalf the licensee has received the trust money, or\n> > \n> > > (b) must be able to claim, under the Act, section 39, that the disclosure was not required because, in the circumstances, it was not reasonable to require it.\n> \n> > (3) The licensee must give the person a bill or account of the costs together with written notice that, unless the person objects, the licensee intends, at the expiration of 30 days (the notice period) after giving the person the bill or account, to—\n> > \n> > > (a) withdraw the money, and\n> > \n> > > (b) apply it towards payment of the bill or account.\n> \n> > (4) One of the following circumstances must apply—\n> > \n> > > (a) the person has authorised in writing the withdrawal or receipt,\n> > \n> > > (b) the notice period has expired and the person has not, within the notice period, made an objection,\n> > \n> > > (c) the person has made an objection within the notice period but has not, within the period prescribed under section 12(b), notified the Tribunal of a dispute about the costs concerned.","sortOrder":25},{"sectionNumber":"Division 2","sectionType":"division","heading":"Trust accounts","content":"## Division 2 Trust accounts\n\nDivision 2 Trust accounts","sortOrder":26},{"sectionNumber":"21","sectionType":"section","heading":"Banking of trust money—the Act, s 172","content":"#### 21 Banking of trust money—the Act, s 172\n\n21 Banking of trust money—the Act, s 172\n\n> A licensee who receives trust money must pay the trust money into the licensee’s trust account—\n> \n> > (a) if practicable—before the end of the next banking day after the day of its receipt, or\n> \n> > (b) otherwise—as soon as practicable after that day.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":27},{"sectionNumber":"22","sectionType":"section","heading":"Receipts for trust money","content":"#### 22 Receipts for trust money\n\n22 Receipts for trust money\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must cause a receipt to be prepared immediately after the licensee receives trust money for or on behalf of a person.\n> \n> > (2) The receipt must include the following details—\n> > \n> > > (a) the date the receipt was prepared,\n> > \n> > > (b) the number of the receipt,\n> > \n> > > (c) the name of the licensee, or, if appropriate, the business name under which the licensee conducts the conveyancing business, and the words “Trust Account”,\n> > \n> > > (d) the name of the person from whom the payment was received,\n> > \n> > > (e) the name and ledger reference number of the person on whose behalf the payment was made,\n> > \n> > > (f) particulars sufficient to identify the transaction for which the money was paid,\n> > \n> > > (g) the amount of trust money received and whether, or the extent to which, it was paid in cash, by cheque, by electronic funds transfer or otherwise.\n> \n> > (3) A copy of the details shown on the receipt must be made simultaneously—\n> > \n> > > (a) if the receipt is issued from the trust receipt book—on the machine-numbered duplicate form provided in the trust receipt book, or\n> > \n> > > (b) otherwise—in the cash book.\n> \n> > (4) Receipts must be prepared in the numerical order of the series to which the receipts belong.\n> \n> > (5) The original of a receipt must be given, on demand, to the person from whom the trust money is received.\n> \n> > (6) The licensee must keep—\n> > \n> > > (a) any original receipt that is not given to the person from whom the trust money is received, and\n> > \n> > > (b) any original receipt that is cancelled after the receipt is prepared, and\n> > \n> > > (c) duplicate receipts, other than receipts referred to in subsection (3)(b).\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":28},{"sectionNumber":"23","sectionType":"section","heading":"Payment of trust money—the Act, s 172","content":"#### 23 Payment of trust money—the Act, s 172\n\n23 Payment of trust money—the Act, s 172\n\n> > (1) A licensee must ensure that trust money is not drawn from the licensee’s trust account other than by cheque or electronic funds transfer.\n> \n> > (2) A cheque drawn from the licensee’s trust account must—\n> > \n> > > (a) be machine numbered in series, and\n> > \n> > > (b) be marked “not negotiable”, and\n> > \n> > > (c) not be payable to cash, and\n> > \n> > > (d) contain the name of the licensee, or, if appropriate, the business name under which the licensee conducts the conveyancing business, and the words “Trust Account”, and\n> > \n> > > (e) be signed by the licensee or another person authorised under section 29 to sign the cheque.\n> \n> > (3) The licensee must ensure—\n> > \n> > > (a) each cheque is drawn in the numerical order of the series to which the cheque belongs, and\n> > \n> > > (b) a record of the following is kept for each cheque—\n> > > \n> > > > (i) the number of the cheque,\n> > > \n> > > > (ii) the date the cheque was prepared,\n> > > \n> > > > (iii) the payee for the cheque,\n> > > \n> > > > (iv) the amount of the cheque,\n> > > \n> > > > (v) details identifying the ledger account to be debited,\n> > > \n> > > > (vi) the name and ledger reference number of the person on whose behalf the cheque was drawn,\n> > > \n> > > > (vii) the reason for drawing the cheque.\n> \n> > (4) The licensee must ensure a record of the following is kept for each electronic funds transfer from the licensee’s trust account—\n> > \n> > > (a) the name of the person effecting the transfer,\n> > \n> > > (b) if the transfer is effected under the direction of another person or under an authority delegated under section 29—the name of the person under whose direction or delegation the transfer is effected,\n> > \n> > > (c) the reference number or other particulars sufficient to identify—\n> > > \n> > > > (i) the transfer, and\n> > > \n> > > > (ii) the date of the transfer, and\n> > > \n> > > > (iii) the payee and the amount transferred to or from each ledger account,\n> > \n> > > (d) details identifying—\n> > > \n> > > > (i) the ledger accounts to be debited, and\n> > > \n> > > > (ii) the name and ledger reference number of each person on whose behalf the transfer was made,\n> > \n> > > (e) particulars of the reason for the transfer.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":29},{"sectionNumber":"24","sectionType":"section","heading":"Trust deposits","content":"#### 24 Trust deposits\n\n24 Trust deposits\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee who makes a deposit of money to the licensee’s trust account must ensure that—\n> > \n> > > (a) the relevant deposit book or other written deposit record is produced to the bank when the deposit is made, and\n> > \n> > > (b) the following particulars are entered in the book or record—\n> > > \n> > > > (i) the date of the deposit,\n> > > \n> > > > (ii) the amount of the deposit,\n> > > \n> > > > (iii) whether the deposit consists of cheques, notes or coins,\n> > > \n> > > > (iv) if cheques are included in the deposit—\n> > > > \n> > > > > (A) the name of the drawer, and\n> > > > \n> > > > > (B) the name and branch of the bank on which the cheque is drawn, and\n> > > > \n> > > > > (C) the amount of each cheque,\n> > \n> > > (c) a duplicate of the particulars of each deposit is kept by the licensee.\n> > \n> > Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.\n> \n> > (2) This section does not apply to a deposit of money made directly to a licensee’s trust account by a person other than the licensee, whether electronically or otherwise.","sortOrder":30},{"sectionNumber":"25","sectionType":"section","heading":"Cash book record of trust account transactions","content":"#### 25 Cash book record of trust account transactions\n\n25 Cash book record of trust account transactions\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must keep in the cash book a record of daily receipts and payments of money into and out of the licensee’s trust account.\n> \n> > (2) The pages of the cash book must be consecutively numbered.\n> \n> > (3) The cash book must show the following—\n> > \n> > > (a) the consecutive numbers of receipts issued or cancelled,\n> > \n> > > (b) the consecutive numbers of cheques drawn or cancelled,\n> > \n> > > (c) in the case of money received or disbursed by electronic funds transfer, the consecutive reference numbers or other means of identification of the transfers.\n> \n> > (4) The licensee must enter the following particulars of payments of money into and out of a licensee’s trust account in the cash book as soon as is practicable after the receipt or payment of the money—\n> > \n> > > (a) for money required to be paid into the trust account that is received—the following—\n> > > \n> > > > (i) the date the receipt was prepared,\n> > > \n> > > > (ii) the number of the receipt,\n> > > \n> > > > (iii) the name of the person from whom the payment was received,\n> > > \n> > > > (iv) the name and ledger reference number of the person on whose behalf the payment was made,\n> > > \n> > > > (v) particulars sufficient to identify the transaction for which the money was paid,\n> > > \n> > > > (vi) the amount of money received,\n> > > \n> > > > (vii) whether, or the extent to which, the money was paid in cash, by cheque, by electronic funds transfer or otherwise,\n> > > \n> > > > (viii) the date of the deposit of the money to the trust account,\n> > > \n> > > > (ix) the amount of the deposit,\n> > \n> > > (b) for money paid out of trust account by cheque—the particulars required under section 23(3),\n> > \n> > > (c) for money paid out of the trust account by electronic funds transfer—the particulars required under section 23(4).\n> \n> > (5) At the end of each month, the licensee must balance the cash book and either—\n> > \n> > > (a) carry forward the balance to the commencement of the next month, or\n> > \n> > > (b) carry forward the balance to a ledger account provided for the purpose.\n> \n> > (6) At the end of each month, the licensee must prepare a statement reconciling the balance of the licensee’s trust account with the balance of the related cash book.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":31},{"sectionNumber":"26","sectionType":"section","heading":"Journal","content":"#### 26 Journal\n\n26 Journal\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must record in a journal, maintained exclusively for the licensee’s trust account, all transfers between accounts in the trust account ledger that are not effected by cheque or electronic funds transfer.\n> \n> > (2) The recording must include the following—\n> > \n> > > (a) the date of the transfer,\n> > \n> > > (b) the amount transferred to and from each ledger account,\n> > \n> > > (c) the names of all ledger accounts to be debited or credited,\n> > \n> > > (d) the relevant reference number or other identifier,\n> > \n> > > (e) sufficient particulars to identify the transfer and the reason for the transfer.\n> \n> > (3) Each transfer, when entered in the journal, is to be numbered consecutively.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":32},{"sectionNumber":"27","sectionType":"section","heading":"Trust account ledger","content":"#### 27 Trust account ledger\n\n27 Trust account ledger\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must maintain a separate ledger account for trust money received on behalf of or paid to each client.\n> \n> > (2) The ledger account must include—\n> > \n> > > (a) the name of the client, and\n> > \n> > > (b) a reference number or other identifier, and\n> > \n> > > (c) the following particulars of each transaction affecting trust money—\n> > > \n> > > > (i) the date of the transaction,\n> > > \n> > > > (ii) a description of the transaction,\n> > > \n> > > > (iii) particulars sufficient to identify the trust record originating the transaction,\n> > > \n> > > > (iv) the amount of the transaction,\n> > > \n> > > > (v) the resulting current balance of account arising from the transaction.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":33},{"sectionNumber":"28","sectionType":"section","heading":"Trust account ledger trial balance","content":"#### 28 Trust account ledger trial balance\n\n28 Trust account ledger trial balance\n\n> > (1) For the purposes of the Act, section 172(2)(d), within 21 days after the end of each named month, a licensee must prepare a trial balance statement of all ledger accounts current as at the end of the named month.\n> \n> > (2) The trial balance statement must—\n> > \n> > > (a) specify the month to which it refers, and\n> > \n> > > (b) specify the date of its preparation, and\n> > \n> > > (c) list each ledger account that does not have a zero balance at the end of that month by stating the following—\n> > > \n> > > > (i) the name of the client,\n> > > \n> > > > (ii) the reference number or other identifier,\n> > > \n> > > > (iii) the balance of the account at the end of the month, and\n> > \n> > > (d) show the total of the ledger account balances at the end of the month, and\n> > \n> > > (e) show a comparison between the total and the balance in the cash book reconciled with the balance in the trust account required under section 25(6).\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":34},{"sectionNumber":"29","sectionType":"section","heading":"Signing of cheques or effecting electronic funds transfers—trust account—the Act, s 172","content":"#### 29 Signing of cheques or effecting electronic funds transfers—trust account—the Act, s 172\n\n29 Signing of cheques or effecting electronic funds transfers—trust account—the Act, s 172\n\n> > (1) A licensee that is a corporation, or who is a sole proprietor or a partner, has authority to—\n> > \n> > > (a) sign a cheque (a trust cheque) drawn on the licensee’s trust account, or\n> > \n> > > (b) to effect an electronic funds transfer (a trust EFT) from the licensee’s trust account.\n> \n> > (2) A licensee in charge of a place of business has authority to—\n> > \n> > > (a) sign a trust cheque, or\n> > \n> > > (b) effect a trust EFT.\n> \n> > (3) A licensee who has authority, other than under a delegation, to sign trust cheques or effect trust EFTs may delegate the licensee’s authority—\n> > \n> > > (a) if the licensee is a corporation—\n> > > \n> > > > (i) to 1 or more persons who are directors of the corporation and who are licensees, and\n> > > \n> > > > (ii) to not more than 2 employees at each place of business of the corporation, or\n> > \n> > > (b) if the licensee is a sole proprietor or a partner—to not more than 2 employees at each place of business of the sole proprietor or partnership, or\n> > \n> > > (c) if the licensee is a person in charge of a place of business—to not more than 2 employees at the place of business.\n> \n> > (4) The delegation must be—\n> > \n> > > (a) in writing, and\n> > \n> > > (b) signed by the licensee and the delegate.\n> \n> > (5) The delegation may be revoked by the delegator by giving written notice to the delegate.\n> \n> > (6) A delegation in force authorises the delegate to sign trust cheques or effect trust EFTs to which the delegation relates—\n> > \n> > > (a) for a delegation by a licensee other than a corporation—only if the licensee is unable to sign the cheque or effect the transfer with due expedition because the licensee is sick, injured or absent for good reason, and\n> > \n> > > (b) subject to any terms and conditions, whether relating to the value of the cheques or transfers or the number of signatories, stated in the instrument of delegation.\n> \n> > (7) This section does not affect any additional prohibition or restriction on the signing of trust cheques or the effecting of trust EFTs imposed by—\n> > \n> > > (a) the constitution of any relevant company, or\n> > \n> > > (b) the partnership agreement of any relevant partnership.\n> \n> > (8) A licensee who purports to delegate the licensee’s authority to sign a trust cheque or effect a trust EFT other than in accordance with this section is guilty of an offence.\n> > \n> > Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.\n> \n> > (9) A person who signs a trust cheque or effects a trust EFT purporting to do so as the delegate of a licensee but who has not been authorised to do so in accordance with this section is guilty of an offence.\n> > \n> > Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":35},{"sectionNumber":"30","sectionType":"section","heading":"Account in the name of a licensee—the Act, s 172","content":"#### 30 Account in the name of a licensee—the Act, s 172\n\n30 Account in the name of a licensee—the Act, s 172\n\n> > (1) A licensee may maintain in the licensee’s trust account ledger an account in the licensee’s name—\n> > \n> > > (a) for the purpose of aggregating in the account, by transfer from other accounts in the trust account ledger, money properly due to the licensee for costs and disbursements, and\n> > \n> > > (b) for money in which the licensee has a personal and beneficial interest as a vendor, purchaser, mortgagor, mortgagee, lessor, lessee or other like capacity.\n> \n> > (2) The licensee must withdraw money held in an account under subsection (1)(a) not later than 21 days after the day on which the money is transferred to the account.\n> \n> > (3) The licensee must withdraw money held in an account under subsection (1)(b)—\n> > \n> > > (a) at the conclusion of the matter to which the money relates, or\n> > \n> > > (b) if the money comprises rent, interest, instalments of principal or other periodic payments—not later than 6 months after the date on which the money was credited to the account.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":36},{"sectionNumber":"Part 6","sectionType":"part","heading":"Records","content":"# Part 6 Records\n\nPart 6 Records","sortOrder":37},{"sectionNumber":"31","sectionType":"section","heading":"Records that licensees must keep","content":"#### 31 Records that licensees must keep\n\n31 Records that licensees must keep\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must keep the following records relating to a transaction carried out by the licensee or the licensee’s employees in connection with conveyancing work carried out by the licensee or employees—\n> > \n> > > (a) originals or copies of all documents evidencing the transaction, including, for example, agreements, conveyances, transfers, leases and mortgages,\n> > \n> > > (b) all associated documents, including, for example, documents required by law to be attached to contracts for the sale of land, inspection reports, requisitions on title and responses to the requisitions,\n> > \n> > > (c) originals or copies of all other documents and records maintained, issued or received by the licensee or the licensee’s employees, including, for example, letters, file notes, invoices and settlement sheets.\n> \n> > (2) The licensee must ensure the records are kept in a separate file relating only to the transaction for the relevant client.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":38},{"sectionNumber":"32","sectionType":"section","heading":"Period for which records must be kept","content":"#### 32 Period for which records must be kept\n\n32 Period for which records must be kept\n\n> > (1) For the purposes of the Act, section 172(2)(d), a licensee must keep a record for at least 7 years after it is made and provide for its safe keeping throughout that time.\n> > \n> > Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.\n> \n> > (2) However, subsection (1) does not apply to the licensee if the record has passed to the lawful possession of another licensee or a solicitor as a consequence of the transfer of the licensee’s conveyancing business.\n> \n> > (3) In this section—\n> > \n> > record—\n> > \n> > > (a) means a record required to be kept under section 31 or Part 5, and\n> > \n> > > (b) includes a record of which the licensee has lawfully acquired possession as a result of the transfer of a conveyancing business to the licensee.","sortOrder":39},{"sectionNumber":"33","sectionType":"section","heading":"Records and book entries to be in English language","content":"#### 33 Records and book entries to be in English language\n\n33 Records and book entries to be in English language\n\n> For the purposes of the Act, section 172(2)(d), a licensee must ensure that all written records required to be made or produced by the licensee under the Act or this Regulation are in the English language.\n> \n> Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.","sortOrder":40},{"sectionNumber":"Part 7","sectionType":"part","heading":"General","content":"# Part 7 General\n\nPart 7 General","sortOrder":41},{"sectionNumber":"34","sectionType":"section","heading":"The Register—the Act, s 162","content":"#### 34 The Register—the Act, s 162\n\n34 The Register—the Act, s 162\n\n> > (1) The Secretary must enter and keep in the Register required to be maintained under the Act, section 162, the following details for each licence issued under the Act—\n> > \n> > > (a) the name and business address of the person to whom the licence is issued,\n> > \n> > > (b) the number of the licence,\n> > \n> > > (c) date of issue and expiry,\n> > \n> > > (d) for a licence issued to a member of a partnership—the name and business address of each licensed member of the partnership,\n> > \n> > > (e) for a corporation licence—the name and business address of each director of the corporation,\n> > \n> > > (f) the cancellation or any current suspension of the licence,\n> > \n> > > (g) the conditions of the licence under the Act, section 14(a)–(d),\n> > \n> > > (h) any action taken under the Act, Part 9 against the licensee that resulted in an adverse finding against the licensee and details of any disciplinary action taken against the licensee as a result of the adverse finding,\n> > \n> > > (i) proceedings for any offence under the Act or this Regulation taken against the licensee that resulted in a conviction for the offence and details of any penalty imposed for the offence,\n> > \n> > > (j) any current undertakings given under the Act by the licensee,\n> > \n> > > (k) the appointment of a manager or receiver under the Act for the licensee,\n> > \n> > > (l) the number of payments made from the Compensation Fund under the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066), Part 10, for any failure to account of the licensee,\n> > \n> > > (m) the suspension of the licence under the [Fair Trading Act 1987](/view/html/inforce/current/act-1987-068), section 79A,\n> > \n> > > (n) action in the nature of disciplinary action taken under other legislation administered by the Minister against the licensee that resulted in an adverse finding against the licensee and details of any action taken against the licensee as a result of that adverse finding.\n> \n> > (2) Also, the Secretary must enter and keep in the Register details of any application for a licence that is refused on the ground that the applicant is not a fit and proper person to hold a licence.\n> \n> > (3) Details entered in the Register under subsection (2) for a person whose application is refused are to be removed from the Register on the subsequent grant of a licence to the person.\n> \n> > (4) Details entered in the Register under subsection (1)(h) or (i) are to be removed from the Register on the expiration of the period of 10 years after the action or conviction to which they relate.","sortOrder":42},{"sectionNumber":"35","sectionType":"section","heading":"Complaints and discipline—the Act, s 133(3)","content":"#### 35 Complaints and discipline—the Act, s 133(3)\n\n35 Complaints and discipline—the Act, s 133(3)\n\n> The following provisions of the Act are prescribed as provisions that remain applicable to a suspended licence—\n> \n> > (a) section 66,\n> \n> > (b) section 72,\n> \n> > (c) sections 75 and 77, unless a receiver or manager has been appointed,\n> \n> > (d) section 88 to the extent that it applies the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066) section 179,\n> \n> > (e) section 95,\n> \n> > (f) section 152,\n> \n> > (g) section 153.","sortOrder":43},{"sectionNumber":"36","sectionType":"section","heading":"Corporate licensees—the Act, s 172","content":"#### 36 Corporate licensees—the Act, s 172\n\n36 Corporate licensees—the Act, s 172\n\n> A licensee that is a corporation must lodge a notification made under section 77 by—\n> \n> > (a) if the corporation has only 1 director—the director, or\n> \n> > (b) if the corporation has more than 1 director—any 2 of the directors.","sortOrder":44},{"sectionNumber":"37","sectionType":"section","heading":"Secretary’s power to waive, reduce, postpone or refund fees","content":"#### 37 Secretary’s power to waive, reduce, postpone or refund fees\n\n37 Secretary’s power to waive, reduce, postpone or refund fees\n\n> For the purposes of the Act, section 172(2)(g), the Secretary may waive, reduce, postpone or refund, in whole or part, a fee payable or paid under the Act or this Regulation if the Secretary is satisfied it is appropriate because—\n> \n> > (a) the person who is to pay or has paid the fee is suffering financial hardship, or\n> \n> > (b) special circumstances exist.\n> > \n> > Example of special circumstances—\n> > \n> > circumstances involving a natural disaster or recovery from a natural disaster","sortOrder":45},{"sectionNumber":"38","sectionType":"section","heading":"Partial refund of application fees for certain licences","content":"#### 38 Partial refund of application fees for certain licences\n\n38 Partial refund of application fees for certain licences\n\n> > (1) For the purposes of the Act, section 172(2)(g), this section applies to an application fee for a licence with a term of 3 years or 5 years, paid by or on behalf of a person who—\n> > \n> > > (a) has requested the licence be cancelled under the Act, or\n> > \n> > > (b) if the fee was paid by or on behalf of an individual—has died.\n> \n> > (2) A person may apply to the Secretary for a refund of the application fee if the person—\n> > \n> > > (a) paid the application fee, or\n> > \n> > > (b) is applying for or on behalf of the person who paid the application fee, or\n> > \n> > > (c) is the legal representative of a deceased individual who paid the application fee.\n> \n> > (3) A person is not entitled to make an application under this section if the licence was suspended or cancelled as a result of disciplinary action.\n> \n> > (4) A person who makes an application under subsection (2) is—\n> > \n> > > (a) for a licence with a term of 3 years—entitled to a refund of one-third of the fixed component of the application fee paid for each complete year remaining for the licence, or\n> > \n> > > (b) for a licence with a term of 5 years—entitled to a refund of one-fifth of the fixed component of the application fee paid for each complete year remaining for the licence.\n> \n> > (5) In this section—\n> > \n> > application fee means the following—\n> > \n> > > (a) an application fee for the grant of a licence,\n> > \n> > > (b) an application fee for the renewal of a licence,\n> > \n> > > (c) an application fee for the restoration of a licence.\n> > \n> > fixed component, of an application fee, is the amount set out in Schedule 1, Part 1, Column 2 for the fee.","sortOrder":46},{"sectionNumber":"39","sectionType":"section","heading":"Repeal and savings","content":"#### 39 Repeal and savings\n\n39 Repeal and savings\n\n> > (1) The [Conveyancers Licensing Regulation 2015](/view/html/repealed/current/sl-2015-0495) is repealed.\n> \n> > (2) Any act, matter or thing that, immediately before the repeal of the [Conveyancers Licensing Regulation 2015](/view/html/repealed/current/sl-2015-0495), had effect under that Regulation continues to have effect under this Regulation.","sortOrder":47},{"sectionNumber":"Schedule 1","sectionType":"schedule","heading":"Fees","content":"# Schedule 1 Fees\n\nSchedule 1 Fees\n\nsection 5\n\n**sch 1:** Am 2025 (275), Sch 1\\[6\\] \\[7\\].","sortOrder":48},{"sectionNumber":"Schedule 2","sectionType":"schedule","heading":"Rules of conduct","content":"# Schedule 2 Rules of conduct\n\nSchedule 2 Rules of conduct\n\nsection 8","sortOrder":55},{"sectionNumber":"Schedule 3","sectionType":"schedule","heading":"Penalty notice offences","content":"# Schedule 3 Penalty notice offences\n\nSchedule 3 Penalty notice offences\n\n| Column 1 | Column 2 | Column 3 |\n| Provision | Penalty | Penalty |\n| Offences under the Act |\n| Section 6(1) | $1,100 |  |\n| Section 19(3) | $550 |  |\n| Section 20(1) | $1,100 | $2,200 |\n| Section 20(2) | $1,100 | $2,200 |\n| Section 20(3) | $1,100 | $2,200 |\n| Section 20(4) | $1,100 | $2,200 |\n| Section 21(1) | $1,100 | $2,200 |\n| Section 24(1) | $550 |  |\n| Section 25 | $1,100 |  |\n| Section 26(1) | $1,100 | $2,200 |\n| Section 27(1) | $1,100 | $2,200 |\n| Section 28(2) | $1,100 | $2,200 |\n| Section 29(5) | $550 |  |\n| Section 31(1) | $550 |  |\n| Section 31(3) | $550 |  |\n| Section 32 | $550 |  |\n| Section 33 | $550 |  |\n| Section 35 | $1,100 |  |\n| Section 36(1) | $1,100 | $2,200 |\n| Section 53(1) | $1,100 |  |\n| Section 53(2) | $1,100 |  |\n| Section 53(5) | $1,100 |  |\n| Section 53(6) | $1,100 |  |\n| Section 53(7) | $1,100 |  |\n| Section 56 | $1,100 |  |\n| Section 58 | $1,100 |  |\n| Section 59 | $1,100 |  |\n| Section 60 | $1,100 |  |\n| Section 64(6) | $550 |  |\n| Section 68(1) | $1,100 |  |\n| Section 68(2) | $1,100 |  |\n| Section 74(1)(a) | $1,100 |  |\n| Section 74(1)(b) | $1,100 |  |\n| Section 74(1)(c) | $1,100 |  |\n| Section 74(1)(d) | $1,100 |  |\n| Section 74(3) | $110 |  |\n| Section 75(1) | $550 | $1,100 |\n| Section 75(3) | $550 | $1,100 |\n| Section 77(1) | $550 |  |\n| Section 80(4) | $550 |  |\n| Section 83(1) | $5,500 |  |\n| Section 83(3) | $1,100 | $1,100 |\n| Section 84 | $1,100 |  |\n| Section 104 | $1,100 |  |\n| Section 110(1) | $1,100 |  |\n| Section 112(a) | $1,100 |  |\n| Section 112(b) | $1,100 |  |\n| Section 112(c) | $1,100 |  |\n| Section 112(d) | $1,100 |  |\n| Section 112(e) | $1,100 |  |\n| Section 130(2) | $550 |  |\n| Section 131 | $1,100 |  |\n| Section 143 | $1,100 | $2,200 |\n| Section 144 | $220 | $440 |\n| Section 148 | $1,100 |  |\n| Section 161(1) | $220 |  |\n| Offences under this Regulation |\n| Section 8(2) | $550 | $1,100 |\n| Section 16(1) | $550 | $1,100 |\n| Section 16(2) | $550 | $1,100 |\n| Section 16(4) | $550 | $1,100 |\n| Section 18(1) | $550 | $1,100 |\n| Section 19(1) | $550 | $1,100 |\n| Section 19(2) | $550 | $1,100 |\n| Section 19(3) | $550 | $1,100 |\n| Section 19(6) | $550 | $1,100 |\n| Section 21 | $550 | $1,100 |\n| Section 22 | $550 | $1,100 |\n| Section 23 | $550 | $1,100 |\n| Section 24(1) | $550 | $1,100 |\n| Section 25 | $550 | $1,100 |\n| Section 26 | $550 | $1,100 |\n| Section 27 | $550 | $1,100 |\n| Section 28 | $550 | $1,100 |\n| Section 29(8) | $550 | $1,100 |\n| Section 29(9) | $550 | $1,100 |\n| Section 30(2) | $550 | $1,100 |\n| Section 30(3) | $550 | $1,100 |\n| Section 31(1) | $550 | $1,100 |\n| Section 31(2) | $550 | $1,100 |\n| Section 32(1) | $550 | $1,100 |\n| Section 33 | $550 | $1,100 |","sortOrder":79}],"analysis":{"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":false,"description":"The Regulation repeals the earlier 2015 Regulation (section 39(1)) but explicitly preserves acts and matters that were in effect immediately before repeal (section 39(2)). The text does not describe any narrowing or broadening of the statutory subjects it regulates; rather it re-establishes the licensing, conduct, trust-account, recordkeeping, fee and penalty framework for conveyancers under the Conveyancers Licensing Act 2003 (see sections 5, 6, Parts 5–6, Schedule 2). Therefore no change of scope from the prior regulatory subject matter is indicated in the Regulation itself."},"complexity_factors":["Detailed and numerous recordkeeping and trust-account rules with precise timelines and formats (Part 5: sections 15–30; Part 6: sections 31–33).","Technical electronic-records and software behaviour constraints that impose specific system-level requirements (section 18).","Fee structure indexed to CPI with a mathematical formula and rounding rules, plus multiple fee components (Schedule 1, Part 2, section 2; Schedule 1 Part 1).","Multiple cross-references to other Acts and external regimes (Conveyancers Licensing Act, Property and Stock Agents Act, Legal Profession Uniform Law, National Credit Code) that affect obligations (various sections).","Significant administrative discretion vested in the Secretary (exemptions, approvals, fee waivers/refunds) with multi-factor decision criteria (sections 6(3), 7, 37).","A broad schedule of penalty notice offences and varying penalty amounts that require careful mapping from breach to sanction (Schedule 3).","Procedural rules interacting with courts and the Tribunal for costs disputes, including document transfer and time limits (Part 4: sections 12–14)."],"plain_english_summary":"# What this Regulation does (mechanics first)\n\n- It sets the administrative and conduct rules for licensed conveyancers in New South Wales. Key topics covered are: fees and how they are indexed (section 5; Schedule 1; Part 2 of Schedule 1), compulsory professional indemnity cover (section 6), detailed rules for handling trust money and related records (Part 5, sections 15–30), mandatory transaction and file records and retention periods (Part 6, sections 31–33), rules of professional conduct (Schedule 2; section 8), dispute and Tribunal procedures for cost disputes (Part 4, sections 12–14), the public Register contents (section 34), and the list of penalty notice offences and amounts (Schedule 3).\n\n# Who is affected\n\n- Licensed conveyancers and people applying for conveyancer licences (fees, application and renewal rules) (section 5; Schedule 1).\n- Conveyancer employers and workplaces: obligations about supervision, delegations and who may sign trust cheques or effect electronic transfers (sections 7 and 29).\n- Clients of conveyancers: protections via disclosure, statements of account and rules on how trust money is handled (sections 10, 19, 20, Part 5).\n- The Secretary of the Department (discretion to approve insurance policies, grant exemptions, waive/refund fees, require notices) (sections 6(3), 7, 37, Part 2 (fee notices)).\n- The Tribunal and courts in handling costs disputes (Part 4, sections 12–14).\n\n# Purpose-claims in the text (stated as such) and how they map to concrete measures\n\n- The Regulation prescribes rules and procedures to govern licensing, conduct and trust handling for conveyancers (see the rules of conduct prescribed in Schedule 2 and various record/trust provisions across Parts 5 and 6) (section 8; Part 5; Part 6). That is implemented by: mandatory recordkeeping, retention periods, banking and cheque/EFT rules and specified disclosure obligations to clients.\n\n# Who pays, who decides, and what behaviour changes\n\n- Who pays:\n  - Applicants and licence-holders pay application, renewal and restoration fees as listed in Schedule 1 (section 5; Schedule 1). The fee figures are expressed in fee units and then rounded (Schedule 1, Part 2). Applicants also must pay contributions/levies to the Compensation Fund under the Property and Stock Agents Act (section 5(4)–(5)).\n  - Licensees bear the cost of compliance (recordkeeping, electronic systems, insurance where required) imposed by the Regulation (Part 5; section 6).\n- Who decides:\n  - The Secretary exercises multiple discretions: approving types of professional indemnity policies (section 6(3)), considering and granting exemptions to be licensee-in-charge at multiple offices and imposing conditions (section 7), waiving/reducing/postponing/refunding fees (section 37), and notifying indexed fee amounts (Schedule 1, Part 2, section 4).\n  - The Tribunal decides cost disputes and may refer matters to an independent expert, allocating assessment costs as ordered (Part 4, sections 12 and 13).\n- Behaviour changes required:\n  - Licensees must adopt specific trust-account practices (immediate receipts, banking by next banking day if practicable, machine-numbered cheques, EFT recordkeeping) (sections 21–24; 23(1)–(4)).\n  - Detailed electronic-record and software behaviour requirements impose constraints on how conveyancing accounting systems operate (audit trails for creation/amendment/deletion, sequential numbering, backups every 4 weeks, etc.) (section 18).\n  - Licensees must follow the rules of conduct (honesty/fairness, client communication, conflicts management, confidentiality, recording instructions) (Schedule 2). Non-compliance carries penalties (section 8(2); Schedule 3).\n\n# Costs, incentives, trade-offs and opportunity costs (concrete mechanisms)\n\n- Direct monetary cost to licence-holders and applicants: application/renewal/restoration fees (Schedule 1, Part 1) and statutory contributions/levies to the Compensation Fund (section 5(4)–(5)). Fees are indexed to CPI using a defined formula and rounding rules (Schedule 1, Part 2, sections 2–3), so ongoing operating costs for licensees rise or fall with the index (Schedule 1, Part 2, section 2).\n\n- Administrative and compliance costs: the Regulation requires frequent periodic tasks and record production:\n  - monthly trial balance statements and summaries must be compiled within 21 days after each named month (section 16(4); section 28(1));\n  - statements of account must be produced within short timeframes on request and at specified intervals (section 19(2));\n  - electronic systems must maintain immutable audit trails, sequence numbering, backups at least every 4 weeks and other software constraints (section 18(2)–(4)).\n  These duties consume licence-holder staff time and require suitable software, producing an opportunity cost (time and IT expense) for small practices.\n\n- Incentives and restraints on private enterprise and service arrangements:\n  - The Regulation restricts licensees from carrying out agent business simultaneously with conveyancing business (section 9), and limits delegations and who may sign trust cheques or effect EFTs (section 29). Those rules constrain how conveyancers can organise services, outsource or combine lines of business.\n  - Rules on referrals and disclosure (Schedule 2, rule 15) require disclosure of rebates or relationships and prevent false claims of independence — this changes incentives around referral payments and vertical relationships with other service providers.\n\n- Enforcement and sanction structure:\n  - Breaches attract monetary penalties (maximum penalty units noted throughout; Schedule 3 lists penalty-notice offence amounts). The availability of penalty notices (Schedule 3, item 1) creates a near-term cost for non-compliance without necessarily requiring court prosecution.\n\n# Bureaucratic discretion and implementation risk\n\n- Discretion points: the Secretary has multiple significant discretions: approval of insurance policy types (section 6(3)), assessment of exemption applications with many subjective factors (section 7), fee waivers/refunds/deferrals (section 37), and publishing indexed fee amounts (Schedule 1, Part 2, section 4). Those discretions mean administrative decisions can materially affect licensees’ costs and permitted arrangements.\n\n- Implementation risks tied to technical requirements: the Regulation mandates particular behaviours of electronic accounting programs (for example, preventing entry of transactions that create debit balances without contemporaneous reporting; requiring sequential numbering and specific backup arrangements) (section 18). That creates a dependence on software vendors or internal IT work to certify compliance and a risk that legacy systems may not meet the specific constraints.\n\n# Compliance burden and likely distribution of costs and benefits\n\n- Compliance burden is concentrated on licensees: they must maintain detailed books, timelines, and IT controls (Part 5; Part 6; section 18). The Regulation imposes recurring fees and compulsory insurance or compliance with a law-practice employment route (section 6).\n\n- The text requires a public Register entry of disciplinary actions and convictions (section 34(1)(h)–(i)), which increases transparency but also imposes reputational consequences for licensees recorded there. Entries for some actions are removed after 10 years (section 34(4)).\n\n# Procedural notes that change how private parties interact with the regulator or Tribunal\n\n- Costs disputes must be notified to the Tribunal in writing and within 60 days after the bill is given (section 12). If the Tribunal refers a dispute to an expert, the Tribunal orders how assessment costs are shared (section 13). Court-to-Tribunal transfers require documents to be physically transferred and a directions hearing fixed by the Tribunal (section 14).\n\n# Small practical highlights\n\n- Receipts for trust money must be given immediately and duplicates kept (section 22).\n- Trust money must be banked by the next banking day if practicable (section 21).\n- Licensees must prepare trial balance statements monthly and reconcile trust account and cash book balances (sections 16(4) and 28(1)–(2)).\n\n# Sources in the Regulation cited above\n\n- Fees and fee-unit indexing: section 5; Schedule 1 (Part 1 and Part 2).\n- Professional indemnity insurance: section 6.\n- Exemptions to permit a licensee-in-charge at multiple places of business and factors the Secretary must consider: section 7.\n- Rules of conduct for conveyancing business: section 8 and Schedule 2.\n- Trust-money handling and recordkeeping: Part 5 (sections 15–30) and Part 6 (sections 31–33).\n- Tribunal and costs dispute procedures: Part 4 (sections 12–14).\n- Secretary discretions (fees waivers, approvals, notices): sections 6(3), 7, 37 and Schedule 1 Part 2 section 4.\n- Penalty notice offences and amounts: Schedule 3 (and its application, Schedule 3 item 1).\n\n(References in parentheses are to sections and schedules of the Conveyancers Licensing Regulation 2021.)"},"issue_detection":{"absurdities":[],"contradictions":[]},"summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"Based on the available metadata, there is no indication that the regulation's scope has shifted from its original intent of licensing and regulating conveyancers in NSW. The amendments and versioning appear to reflect technical or administrative updates rather than a fundamental change in purpose."},"complexity_factors":["Only metadata and status information was provided — no substantive regulatory content could be analysed, limiting full complexity assessment","Interaction with multiple layers of legislation: the parent Conveyancers Licensing Act, the Subordinate Legislation Act 1989, and pending amendments from a 2022 Act","Multiple historical versions (three point-in-time versions since 2021) suggest the regulation has been amended and requires tracking of which version applies at any given time","Pending but uncommenced amendments create uncertainty about the complete current legal position","Automatic staged repeal mechanism adds a time-sensitivity dimension practitioners must monitor"],"plain_english_summary":"## Conveyancers Licensing Regulation 2021 (NSW)\n\n**What is this?**\nThis is a NSW regulation (a set of detailed rules made under a broader law) that governs how **conveyancers** (professionals who handle the legal paperwork when you buy or sell property) are licensed and regulated in New South Wales.\n\n**Who does it affect?**\n- Anyone working as a conveyancer in NSW, or wanting to become one\n- Property buyers and sellers who use conveyancing services\n- Businesses that offer conveyancing services\n\n**Why does it matter?**\nIf you're buying or selling a home in NSW and hire a conveyancer instead of a solicitor, this regulation sets the standards that person must meet to legally do that work — including their qualifications, licensing requirements, and professional conduct rules.\n\n**Important note:** This regulation is scheduled to be **automatically repealed (cancelled) on 1 September 2027** under NSW's system for periodically reviewing subordinate legislation. This means the rules will need to be remade or replaced before that date.\n\n**Current status:** The version in force as of 1 July 2025 is the current operative version. There are also pending amendments from a 2022 Act that have not yet commenced (taken effect).\n\n> ⚠️ **Limitation:** Only metadata and status information was provided — the actual content of the regulation (specific rules, fees, qualifications required, etc.) was not included in the text supplied for analysis."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The Regulation appears consistent with its original purpose of operationalising the Conveyancers Licensing Act 2003. It covers licensing, conduct, trust money, and records - all core aspects of conveyancer regulation. The 2021 version replaces the 2015 Regulation without apparent expansion beyond the original regulatory scope."},"complexity_factors":["Extensive cross-referencing to the Conveyancers Licensing Act 2003 and other legislation (Property and Stock Agents Act 2002, Legal Profession Uniform Law, etc.)","Detailed technical requirements for trust accounting (sections 15-30) with specific record-keeping formats, time limits (21 days, 14 days, 60 days), and reconciliation procedures","Nested conditional logic in delegation rules (section 29) with different rules for corporations, sole proprietors, and partners","Multiple exceptions and waiver provisions (sections 19(4), 37, 38)","Fee calculation mechanism using 'fee units' tied to CPI with annual adjustment formulas (Schedule 1, Part 2)","23 separate rules of conduct in Schedule 2 with sub-rules and defined terms","Penalty notice schedule with dual-tier penalties (individual vs corporation amounts)"],"plain_english_summary":"This Regulation sets out the detailed rules for how conveyancers (property transaction specialists) must operate in New South Wales. It covers:\n\n**Who it affects:** Licensed conveyancers, their employees, and clients buying or selling property.\n\n**What it does:**\n- **Licensing:** Sets fees for licences (1, 3, or 5-year terms) and requires professional indemnity insurance (insurance that covers mistakes in professional work).\n- **Business conduct:** Prevents conveyancers from also working as real estate agents, requires disclosure of costs to clients, and sets out detailed rules for who can supervise multiple offices.\n- **Trust money:** Establishes strict rules for handling client money, including how quickly money must be banked, detailed record-keeping (receipts, cash books, ledgers), and who can authorise payments from trust accounts.\n- **Records:** Requires conveyancers to keep transaction files for 7 years.\n- **Dispute resolution:** Sets time limits for clients to challenge conveyancer fees through the Civil and Administrative Tribunal.\n- **Professional standards:** Schedule 2 contains 23 rules of conduct covering honesty, conflicts of interest, confidentiality, and proper advice when clients are signing loan documents.\n\n**Why it matters:** Conveyancers handle large sums of client money and critical property transactions. These rules protect consumers from fraud, ensure money is handled safely, maintain professional standards, and provide clear processes when things go wrong."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/conveyancers-licensing-regulation-2021","history":"/api/acts/conveyancers-licensing-regulation-2021/history","analysis":"/api/acts/conveyancers-licensing-regulation-2021/analysis","conflicts":"/api/acts/conveyancers-licensing-regulation-2021/conflicts","importantCases":"/api/acts/conveyancers-licensing-regulation-2021/important-cases","documents":"/api/acts/conveyancers-licensing-regulation-2021/documents"}}