{"id":"conveyancers-regulations-2025","name":"Conveyancers Regulations 2025","slug":"conveyancers-regulations-2025","collection":"regulation","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":235322,"registerId":"sa-conveyancers-regulations-2025-current","compilationNumber":null,"startDate":"2026-04-06","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Conveyancers Regulations 2025","content":"South Australia\nConveyancers Regulations 2025\nunder the Conveyancers Act 1994\n\nContents\n1\tShort title\n2\tCommencement\n3\tInterpretation\n4\tFees—waiver, reduction and refund\n5\tAnnual fee and return\n6\tNotification of change in circumstances etc\n7\tReturn of certificate of registration\n8\tApproved professional indemnity insurance scheme\n9\tExemption from trust account provisions for third party cheques\n10\tPayment of interest on trust accounts to Commissioner\n11\tGeneral duty with respect to records\n12\tReceipt of trust money\n13\tPayment of trust money\n14\tKeeping of records\n15\tCash books\n16\tSeparate trust ledger accounts\n17\tReconciliation statements\n18\tTransfer of money from trust account to office account\n19\tAudit of trust accounts\n20\tConveyancer's statement\n21\tAudit when conveyancer ceases to carry on business\n22\tAudit and report etc for firm operates for each partner\n23\tCertain persons may not audit accounts and records of conveyancer\n24\tIndemnity fund\n25\tEstablishment and determination of claims\n26\tClaimant's entitlement to compensation and interest\nSchedule 1—Repeal and transitional provision\nPart 1—Repeal of Conveyancers Regulations 2010\n1\tRepeal of regulations\nPart 2—Transitional provision\n2\tApproved schemes\nLegislative history\n\n1—Short title\nThese regulations may be cited as the Conveyancers Regulations 2025.\n2—Commencement\nThese regulations come into operation on the day on which they are made.\n3—Interpretation\nIn these regulations—\nAct means the Conveyancers Act 1994;\napproved scheme means the professional indemnity insurance scheme approved by the Commissioner for the purposes of these regulations;\nBSB number (Bank State Branch number) means the number assigned to identify a particular branch of a particular ADI;\nprofessional indemnity insurance means insurance against civil liability arising in connection with carrying on business as a conveyancer (whether the liability arises from an act or omission on the part of the insured conveyancer or some other person).\n4—Fees—waiver, reduction and refund\nThe Commissioner may waive, reduce or refund a fee (or part of a fee) prescribed for the purposes of the Act if satisfied that it is appropriate to do so in a particular case.\n5—Annual fee and return\n\t(1)\tFor the purposes of section 8(2) of the Act, a registered conveyancer must pay the fee and lodge the return on or before—\n\t(a)\tthe last day of the month in each year nominated in writing to the conveyancer by the Commissioner; or\n\t(b)\tif the Commissioner does not nominate a month—the last day of the month in each year that is the same month as the month in which the conveyancer's registration was granted.\n\t(2)\tA conveyancer must, on or before the date for lodging an annual return, provide the Commissioner with evidence to the Commissioner's satisfaction that the conveyancer—\n\t(a)\tis, or will be, insured to the extent required by these regulations on that date; or\n\t(b)\twill not, for the 12 month period following that date, be required under these regulations to be insured.\nMaximum penalty: $2 500.\n6—Notification of change in circumstances etc\n\t(1)\tIf there is any change in—\n\t(a)\tthe residential address of a registered conveyancer; or\n\t(b)\tthe postal or email address of a registered conveyancer provided to the Commissioner for purposes connected with their registration; or\n\t(c)\tthe business or trading name under which a registered conveyancer carries on business; or\n\t(d)\tthe address at which a registered conveyancer carries on business; or\n\t(e)\tthe address of the registered corporate office of a registered conveyancer that is a company,\nthe conveyancer must, within 14 days after that change, give written notice to the Commissioner of the new address or name (as the case may be).\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(2)\tA registered conveyancer who is not required to be insured under the approved scheme must, before a change occurs in their circumstances that would require the conveyancer to be so insured during the course of the 12 month period following the date for lodging an annual return, provide the Commissioner with evidence to the Commissioner's satisfaction that the conveyancer will be insured to the extent required by these regulations for the balance of that 12 month period.\nMaximum penalty: $2 500.\n\t(3)\tA registered conveyancer must, within 14 days after ceasing to carry on business as a conveyancer, give written notice to the Commissioner of that fact.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(4)\tA registered conveyancer must, within 14 days after entering into partnership to carry on business as a conveyancer or ceasing to be in such a partnership, give written notice to the Commissioner of that fact, together with the names of the members of the new or former partnership.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(5)\tIf a person is appointed as a director of a company that is a registered conveyancer, the conveyancer must, within 14 days after the appointment—\n\t(a)\tnotify the Commissioner in the manner and form approved by the Commissioner of the appointment of the new director; and\n\t(b)\tprovide the Commissioner with any information required by the Commissioner for the purposes of determining whether the new director meets the requirements for directors under section 7(2) of the Act.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n7—Return of certificate of registration\n\t(1)\tIf registration of a person as a conveyancer is surrendered, suspended or cancelled, the person must, at the direction of the Tribunal or the Commissioner, return the certificate of registration to the Commissioner.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(2)\tIf, on an application under section 6 of the Act, a certificate of registration as a conveyancer has been issued to a person but the fee payable in respect of the application has not been paid (whether because of the dishonouring of a cheque or otherwise), the person must, at the direction of the Commissioner, return the certificate of registration to the Commissioner.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(3)\tThe Commissioner may issue to a registered conveyancer a certificate of registration in replacement of a current certificate of registration if satisfied that—\n\t(a)\tthe current certificate has been lost, destroyed or damaged; or\n\t(b)\tany particulars appearing on the current certificate are incorrect.\n\t(4)\tIf the Commissioner issues to a registered conveyancer a replacement certificate of registration, the conveyancer must, at the direction of the Commissioner, return the original (or previous duplicate) certificate of registration to the Commissioner.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n8—Approved professional indemnity insurance scheme\n\t(1)\tFor the purposes of section 9(1) of the Act, the Commissioner may approve a scheme to provide professional indemnity insurance, to an extent provided by the scheme, for the benefit of conveyancers.\n\t(2)\tThe approved scheme—\n\t(a)\tmust provide for insurance indemnity under a master policy negotiated with the insurer or insurers participating in the scheme; and\n\t(b)\tmust provide for all persons carrying on business as a conveyancer, or a class or classes of conveyancers, as specified in the scheme, to obtain coverage under the scheme; and\n\t(c)\tmay provide for the determination and settlement of claims against conveyancers covered by the scheme; and\n\t(d)\tmay impose on conveyancers covered by the scheme obligations to pay premiums, levies, fees or other charges (which may vary according to factors stipulated in the scheme); and\n\t(e)\tmay impose, or provide for the imposition of, penalties, sanctions and remedies against conveyancers who fail to comply with their obligations under the scheme; and\n\t(f)\tmay make any other provision reasonably necessary for, or incidental to, the administration or enforcement of the scheme.\n\t(3)\tThe approved scheme (as amended from time to time with the approval of the Commissioner) is binding on—\n\t(a)\tthe conveyancers covered by the scheme; and\n\t(b)\tthe insurer or insurers and other persons to whom the scheme applies.\n\t(4)\tThe Commissioner must publish a copy of the approved scheme (including any amendments to the scheme approved by the Commissioner) available on a website determined by the Commissioner.\n\t(5)\tIn this regulation—\nconveyancer includes a former conveyancer.\n9—Exemption from trust account provisions for third party cheques\nA conveyancer is exempt from the operation of Part 4 Division 2 of the Act and regulations 13(2) and 20(1)(d) in respect of the receipt and delivery of a cheque by the conveyancer if the cheque—\n\t(a)\tis a crossed cheque expressed to be payable to a person or persons not being or including the conveyancer (whether or not it is also expressed to be payable to bearer); and\n\t(b)\tis held by the conveyancer for the purpose of delivery to a person to whom the cheque is expressed to be payable (or such a person's agent), and is so delivered.\n10—Payment of interest on trust accounts to Commissioner\nFor the purposes of section 17 of the Act, interest that an ADI is liable to pay in respect of trust money held in a trust account must be paid by the ADI to the Commissioner on—\n\t(a)\t15 January, 15 April, 15 July and 15 October in each year; or\n\t(b)\tthe 15th day of each month in each year.\n11—General duty with respect to records\nIf a conveyancer uses a computer program to keep records under Part 4 Division 2 of the Act, the conveyancer must ensure that—\n\t(a)\tan electronic copy of all the records is made within 24 hours of any alteration of the records; and\n\t(b)\tat least once in each month, an electronic copy of all the records is made and kept in a safe place at a location other than the premises where the computer program is operating (which, to avoid doubt, may be in a cloud storage system); and\n\t(c)\tbefore any information is deleted from the computer records, a hard copy of the information is made and kept by the conveyancer as part of the conveyancer's records; and\n\t(d)\tan up‑to‑date electronic copy of the computer program is made and kept in a safe place at a location other than the premises where the computer program is operating (which, to avoid doubt, may be in a cloud storage system).\nMaximum penalty: $2 500.\n12—Receipt of trust money\n\t(1)\tFor the purposes of section 23(2)(a) of the Act, the receipt that a conveyancer must make available to a person making a payment of trust money—\n\t(a)\tmust be legibly written on a form comprised in a series of consecutively pre‑numbered duplicate receipt forms marked with the name of the conveyancer and the words \"Trust Account\"; and\n\t(b)\tmust contain the following information:\n\t(i)\t—\n\t(A)\tin the case of a payment made by electronic transfer of funds into a conveyancer's trust account—the date on which the conveyancer makes out the receipt; or\n\t(B)\tin any other case—the date of the payment;\n\t(ii)\tthe name of the person making the payment;\n\t(iii)\twhether the payment is by cash, cheque, bank cheque or electronic transfer of funds into the conveyancer's trust account and, if the payment is by cheque or bank cheque, the name of the drawer of the cheque;\n\t(iv)\tthe name of the person for whom the money is received;\n\t(v)\tbrief particulars of the purpose of the payment;\n\t(vi)\tthe amount of the payment.\n\t(2)\tA conveyancer must make out a receipt in accordance with section 23(2) of the Act and this regulation—\n\t(a)\tin the case of a payment made by electronic transfer of funds into a conveyancer's trust account—immediately upon the conveyancer receiving official confirmation that the payment has been made (whether that is by way of receipt by the conveyancer of an ADI statement or some other way, whichever occurs sooner); or\n\t(b)\tin any other case—immediately on receipt of the payment.\nMaximum penalty: $2 500.\n\t(3)\tA conveyancer need not comply with subregulation (1)(a) or section 23(2)(b) of the Act if the conveyancer uses a computer program to make out the receipt and the program—\n\t(a)\tautomatically produces in chronological sequence consecutively numbered receipts marked with the name of the conveyancer and the words \"Trust Account\"; and\n\t(b)\tautomatically makes a separate contemporaneous record of the receipt so that, at any time, a hard copy of the receipt may be produced; and\n\t(c)\trequires input in each field of a data entry screen intended to receive information for the purposes of producing the receipt so that each receipt contains all of the information required by subregulation (1)(b).\n13—Payment of trust money\n\t(1)\tA conveyancer must not make a payment of trust money in cash.\nMaximum penalty: $2 500.\n\t(2)\tWhen a conveyancer makes a payment of trust money by cheque, the conveyancer—\n\t(a)\tmust ensure that the cheque is marked with the name of the conveyancer and the words \"Trust Account\"; and\n\t(b)\tmust—\n\t(i)\tcause the cheque to be crossed and endorsed \"Not negotiable\"; or\n\t(ii)\tobtain from the person receiving the cheque a receipt that complies with subregulation (4) and keep the receipt as part of the conveyancer's records.\nMaximum penalty: $2 500.\n\t(3)\tWhen a conveyancer makes a payment of trust money by cheque, the conveyancer must prepare and keep as part of the conveyancer's records a cheque stub or voucher containing the following information:\n\t(a)\tthe date and reference number of the cheque;\n\t(b)\tthe name of the payee;\n\t(c)\tthe client name or reference and brief particulars of the purpose of the payment;\n\t(d)\tthe amount of the cheque.\n\t(4)\tThe receipt must be legible and contain the following information:\n\t(a)\tthe date and reference number of the cheque;\n\t(b)\tparticulars identifying the trust account against which the cheque is drawn;\n\t(c)\tthe name of the payee;\n\t(d)\tbrief particulars of the purpose of the payment;\n\t(e)\tthe amount of the cheque.\n\t(5)\tWhen a conveyancer authorises the payment of trust money by electronic transfer of funds, the conveyancer—\n\t(a)\tmust prepare and keep as part of the conveyancer's records the following information:\n\t(i)\tthe date and reference number of the payment;\n\t(ii)\tthe name of the payee;\n\t(iii)\tthe client name or reference and brief particulars of the purpose of the payment;\n\t(iv)\tthe name or style of the ADI account to which the payment is made, its number and the identifying numbers of the receiving ADI and its branch;\n\t(v)\tthe amount of the payment; and\n\t(b)\tmust, on receiving official written confirmation that the payment has been made, keep that confirmation as part of the conveyancer's records.\n14—Keeping of records\nFor the purposes of section 23(1)(c) of the Act, the detailed accounts of receipts and disbursements of trust money to be compiled by a conveyancer must comply with regulations 15, 16 and 17.\n15—Cash books\n\t(1)\tA conveyancer must keep as part of the conveyancer's records—\n\t(a)\ta cash receipts book in which the conveyancer records the following information in respect of each receipt of trust money:\n\t(i)\tthe date and reference number of the receipt;\n\t(ii)\tthe name of the person from whom the money is received;\n\t(iii)\tthe client name or reference to which the transaction relates;\n\t(iv)\tbrief particulars of the purpose of the receipt;\n\t(v)\tthe amount of the receipt; and\n\t(b)\ta cash payments book in which the conveyancer records the following information in respect of each payment of trust money:\n\t(i)\tthe date and reference number of the cheque or electronic transfer of funds by which the payment was made;\n\t(ii)\tthe name of the payee;\n\t(iii)\tthe client name or reference to which the transaction relates;\n\t(iv)\tbrief particulars of the purpose of the payment;\n\t(v)\tthe amount of the cheque or electronic transfer of funds.\n\t(2)\tA conveyancer need not keep a cash receipts book or a cash payments book as required by subregulation (1) if the conveyancer uses a computer program to record the information referred to in that subregulation in respect of each receipt or payment of trust money and the program—\n\t(a)\trequires input in each field of a data entry screen intended to receive information in respect of a receipt or payment so that all of the information referred to in subregulation (1) is recorded in respect of each receipt and payment; and\n\t(b)\tis capable, at any time, of producing—\n\t(i)\ta report of the information in respect of receipts of trust money in the order in which they were received; and\n\t(ii)\ta report of the information in respect of payments of trust money in the order in which they were made.\n\t(3)\tA conveyancer who uses a computer program as referred to in subregulation (2) must ensure that—\n\t(a)\tat the end of each month, hard copies of each of the following reports are produced:\n\t(i)\ta report of the information in respect of receipts of trust money received during that month in the order in which they were received;\n\t(ii)\ta report of the information in respect of payments of trust money made during that month in the order in which they were made; and\n\t(b)\tthose hard copies are kept as part of the conveyancer's records.\n\t(4)\tThe records of receipts and payments must be made by the conveyancer in accordance with this regulation in the order in which they are received or made, each such record being made within 2 business days after the receipt or payment in question.\n\t(5)\tSubregulation (4) does not apply in relation to receipts or payments by way of electronic transfer of funds, a record of which must be made within 2 business days after the conveyancer receives official confirmation that the transfer has occurred.\n16—Separate trust ledger accounts\n\t(1)\tA conveyancer must ensure that the conveyancer's trust ledger accounts are kept separately—\n\t(a)\tin respect of each of the conveyancer's clients; and\n\t(b)\tif the conveyancer performs services for a client in respect of a number of transactions between different parties—in respect of each such transaction.\n\t(2)\tThe conveyancer must record in each of the separate accounts the following details:\n\t(a)\tthe name and address of the client to whom the accounts relate;\n\t(b)\ta brief description of the service provided and the transaction to which the accounts relate;\n\t(c)\tin respect of each receipt or disbursement of trust money—\n\t(i)\tthe date and reference number of the receipt or disbursement; and\n\t(ii)\tthe name of the person from whom the money is received or to whom the money is disbursed; and\n\t(iii)\tbrief particulars of the purpose of the receipt or disbursement; and\n\t(iv)\tthe amount received or disbursed.\n\t(3)\tThe conveyancer must ensure that any changes in the details referred to in subregulation (2)(a) or (b) are recorded in a manner that enables the changes and the order in which they occurred to be identified.\n\t(4)\tIf the conveyancer transfers money between any of the separate accounts, the transfer must be clearly recorded—\n\t(a)\tin both accounts; and\n\t(b)\tin a transfer journal,\nin sufficient detail that the transfer may be clearly understood.\n\t(5)\tThe records of receipts, disbursements and transfers must be made by the conveyancer in accordance with this regulation in the order in which the receipts, disbursements or transfers are received or made, each such record being made within 2 business days after the receipt, disbursement or transfer in question.\n\t(6)\tSubregulation (5) does not apply in relation to receipts or payments by way of electronic transfer of funds, a record of which must be made within 2 business days after the conveyancer receives official confirmation that the transfer has occurred.\n\t(7)\tIf a conveyancer uses a computer program to keep trust ledger accounts or a transfer journal, the conveyancer must ensure that—\n\t(a)\tthe program is incapable of—\n\t(i)\trecording a transaction that would result in a debit balance in a trust ledger account unless a separate contemporaneous record of the transaction is also made so that, at any time, a hard copy may be produced of all such transactions in chronological order; and\n\t(ii)\tdeleting from its records the information relating to a trust ledger account unless—\n\t(A)\tthe balance of the account is zero; and\n\t(B)\ta hard copy of all of the information required under these regulations relating to the account has been produced; and\n\t(iii)\tchanging existing information relating to a transaction otherwise than by making a further entry showing a separate transaction to effect the change; and\n\t(b)\tthe program automatically inserts consecutive page numbers into any hard copy report produced by use of the program; and\n\t(c)\tthe program requires input in each field of a data entry screen intended to receive information for the purposes of a trust ledger account or transfer journal so that the entry contains all of the information required by this regulation.\nMaximum penalty: $2 500.\n\t(8)\tIf a conveyancer uses a computer program to keep trust ledger accounts or a transfer journal, the conveyancer must, within 2 business days of a request from the Commissioner or the conveyancer's auditor, produce hard copies of the trust ledger accounts or transfer journal.\nMaximum penalty: $2 500.\n17—Reconciliation statements\n\t(1)\tA conveyancer must, at the end of each month, prepare and keep as part of the conveyancer's records—\n\t(a)\ta statement reconciling the balance of the conveyancer's cash books, or equivalent computer records, kept under regulation 15 with the balance of the conveyancer's trust account; and\n\t(b)\ta statement reconciling the balances of the ledgers comprised in the conveyancer's trust ledger accounts with the balance of the conveyancer's trust account.\n\t(2)\tThe conveyancer is not required to set out a list of individual balances, or the names of the clients on whose behalf money is held, when preparing the statement referred to in subregulation (1)(b).\n18—Transfer of money from trust account to office account\nA conveyancer who becomes entitled to money held in the conveyancer's trust account in or towards satisfaction of the conveyancer's commission, fees, costs or disbursements must, as soon as practicable and in any event within 3 months, transfer the money to an account maintained by the conveyancer for receipts other than trust money.\nMaximum penalty: $2 500.\n19—Audit of trust accounts\n\t(1)\tFor the purposes of section 24(1)(a) of the Act, the audit period in respect of which a conveyancer must have the accounts and records audited is the period from—\n\t(a)\tthe end of the conveyancer's last audit period; or\n\t(b)\tin the case of a conveyancer being granted registration—the date of registration,\nuntil—\n\t(c)\t2 months before the date next occurring on which the conveyancer must lodge an annual return; or\n\t(d)\tif the Commissioner fixes some other date at the request of the conveyancer—the date next occurring fixed by the Commissioner.\n\t(2)\tIn carrying out an audit, the auditor must—\n\t(a)\tmake checks that will enable the auditor to give an opinion as to whether the conveyancer has, during the period covered by the audit, complied with the Act and these regulations relating to the conveyancer's accounts and records; and\n\t(b)\tascertain whether a trust account under Part 4 Division 2 of the Act was kept by the conveyancer during that period; and\n\t(c)\tmake a general test examination of any trust account kept by the conveyancer and of the pass books and statements relating to any such account during that period; and\n\t(d)\tmake a comparison as to no fewer than 2 dates (1 to be the last day of the period of the audit and 1 other to be a date within that period selected by the auditor) between—\n\t(i)\tthe liabilities of the conveyancer to the conveyancer's clients as shown by the conveyancer's trust ledger accounts and the records kept under these regulations; and\n\t(ii)\tthe aggregate of the balances standing to the credit of the conveyancer's trust account; and\n\t(e)\task for such information and explanations as the auditor may require for the purposes of this regulation.\n\t(3)\tFor the purposes of section 24(1)(b) of the Act, the statement relating to the audit must be prepared by the auditor and must include all matters relating to the conveyancer's accounts and records that should, in the auditor's opinion, be communicated to the Commissioner and, in particular, deal with each of the following matters:\n\t(a)\twhether the accounts and records appear to have been kept regularly and properly written up at all times;\n\t(b)\twhether the accounts and records have been ready for examination at the periods appointed by the auditor;\n\t(c)\twhether the conveyancer has complied with the auditor's requirements;\n\t(d)\twhether, at any time during the period of the audit, the conveyancer's trust account was overdrawn and, if so, the full explanation for that given by the conveyancer;\n\t(e)\twhether the conveyancer has, or has had, any debit balances in their trust account and the explanation or reason for such a debit given by the conveyancer;\n\t(f)\twhether the auditor has received and examined the notice given to the auditor under regulation 20 and the result of that examination;\n\t(g)\twhether the conveyancer has complied with section 15 of the Act;\n\t(h)\tif the conveyancer uses a computer program to keep the conveyancer's accounts and records—whether the program allows for the accounts and records to be conveniently and properly audited.\n\t(4)\tThe statement prepared by the auditor for lodging with the Commissioner must include the name, number and relevant BSB number of each trust account included in the audit.\n\t(5)\tThe auditor must give a signed copy of the statement to the conveyancer.\n\t(6)\tIf the auditor in the course of auditing the conveyancer's accounts and records discovers—\n\t(a)\tthat they are not kept in a manner that enables them to be properly audited; or\n\t(b)\ta matter that appears to the auditor to involve dishonesty or a breach of the law by the conveyancer; or\n\t(c)\ta loss or deficiency of trust money or a failure to pay or account for trust money; or\n\t(d)\ta failure to comply with the Act or these regulations,\nthe auditor must, as soon as possible, give a report in respect of the discovery to the Commissioner and the conveyancer concerned.\nMaximum penalty: $2 500.\n\t(7)\tSubregulations (3) and (6)(c) do not apply in relation to losses and deficiencies in a trust account that have been promptly rectified and were due to inadvertence (provided that the total of the losses and deficiencies have not exceeded $100 in any 3 month period).\n\t(8)\tFor the purposes of section 24(3)(b) of the Act, a conveyancer must lodge an audit statement or declaration within 2 months, or such longer period as may be determined by the Commissioner by notice in writing to the conveyancer, after the end of each audit period.\n20—Conveyancer's statement\n\t(1)\tA conveyancer who is required to have accounts and records audited under Part 4 Division 2 of the Act must, before the completion of the audit, certify—\n\t(a)\tunder their hand; or\n\t(b)\tin the case of a firm of conveyancers—under the hands of not less than 2 partners of the firm; or\n\t(c)\tin the case of a conveyancer that is a company—under the hands of not less than 2 directors of the company or, if the company has only 1 director, under the hand of that director,\nand deliver to the auditor a notice setting out in detail, as of the last day of the period to which the audit relates, particulars of—\n\t(d)\tthe names of all persons on whose behalf the conveyancer is holding trust money and the amount of the credit of each such person; and\n\t(e)\tall negotiable or bearer securities or deposit receipts in the name of the conveyancer which represent money drawn from the conveyancer's trust account and which were held by the conveyancer on that day; and\n\t(f)\t—\n\t(i)\tthe names of the trust accounts in which the balance of the conveyancer's trust money is lodged and the balances on that date of those accounts; and\n\t(ii)\tif the trust account balances are not in agreement with the balances of the conveyancer's ledger accounts—a statement reconciling those balances.\nMaximum penalty: $2 500.\n\t(2)\tThe conveyancer must give the auditor making the next succeeding audit of the conveyancer's accounts and records—\n\t(a)\tat the request of the auditor, a copy of the notice, together with a signed copy of the auditor's statement of the last preceding audit of the conveyancer's accounts and records; or\n\t(b)\tif the conveyancer's accounts and records are being audited for the first time or, if for any other reason a copy of the notice cannot be produced for the purpose of the audit—before completion of the audit, a notice containing the same particulars as to money, negotiable or bearer securities and deposit receipts held on the first day of the period to which the audit relates.\nMaximum penalty: $2 500.\n21—Audit when conveyancer ceases to carry on business\n\t(1)\tIf a conveyancer ceases to carry on business as a conveyancer, the conveyancer, or, if the conveyancer has died, the conveyancer's personal representative, must—\n\t(a)\tcause the conveyancer's accounts and records kept under Part 4 Division 2 of the Act to be audited and reported on by an auditor for the period from the previous audit up to the date on which the conveyancer's affairs are wound up; and\n\t(b)\tsubmit a copy of the auditor's statement to the Commissioner within 4 months of the winding up of the conveyancer's affairs or within such further period as the Commissioner may allow.\nMaximum penalty: $2 500.\n\t(2)\tThe relevant provisions of the Act and these regulations apply (subject to such modifications as may be necessary) to the audit and statement required by this regulation.\n\t(3)\tThe conveyancer, or their personal representative, must continue to comply with the Act and these regulations as if the conveyancer had not ceased to carry on business until the conveyancer's affairs (so far as they relate to trust money and other matters required to be recorded under these regulations) are properly and finally wound up.\nMaximum penalty: $2 500.\n\t(4)\tThe preceding provisions of this regulation do not apply to a conveyancer who, before ceasing to carry on business, was a member of a firm if all continuing members of the firm and (unless the conveyancer is dead) the conveyancer certify to the Commissioner that the trust money and other matters in respect of which records are required to be kept under these regulations are under the proper administration and control of the continuing partners or some of them.\n\t(5)\tIn this regulation—\nconveyancer includes a former conveyancer.\n22—Audit and report etc for firm operates for each partner\nAn audit of accounts and records kept by a firm of conveyancers and the auditor's statement and attached notice relating to the firm's accounts and records will be taken to operate as an audit, statement and notice in respect of each conveyancer who is a member of the firm.\n23—Certain persons may not audit accounts and records of conveyancer\nA person must not audit the accounts and records of a conveyancer if the person—\n\t(a)\tis, or has been within 2 years, an employee or partner of the conveyancer; or\n\t(b)\tis an employee of another conveyancer actually carrying on business as a conveyancer; or\n\t(c)\tis, themselves, a conveyancer carrying on business as a conveyancer.\nMaximum penalty: $2 500.\n24—Indemnity fund\nFor the purposes of section 31(2) of the Act, money standing to the credit of the indemnity fund may be applied in payment of amounts approved by the Minister towards the cost of the following:\n\t(a)\tthe advisory service relating to trust accounts conducted by the Australian Institute of Conveyancers South Australian Division Inc for the benefit of conveyancers, including the preparation and publication of manuals and other materials as part of that service;\n\t(b)\tthe advisory service relating to conveyancing conducted by the Australian Institute of Conveyancers South Australian Division Inc for the benefit of members of the public, including the preparation and publication of brochures and other materials as part of that service;\n\t(c)\tthe educational program known as the Professional Development Program conducted by the Australian Institute of Conveyancers South Australian Division Inc for the benefit of conveyancers.\n25—Establishment and determination of claims\n\t(1)\tFor the purposes of section 34(2)(a) of the Act, written notice of the claim (citing a unique reference number by which the claim may be identified) must be given to the claimant and conveyancer or former conveyancer informing them of the Commissioner's receipt of the claim and including—\n\t(a)\tin the case of a notice given to the conveyancer or former conveyancer—details of the claimant's name and any other contact details made available by the claimant for that purpose; and\n\t(b)\tin all cases, an explanation of—\n\t(i)\tthe parties' rights to make submissions as to the claim under section 34(2)(b) of the Act; and\n\t(ii)\tthe parties' rights of review under section 37 of the Act of a determination of the claim by the Commissioner.\n\t(2)\tFor the purposes of section 34(5) of the Act, the Commissioner must—\n\t(a)\twithin 6 months after a claim is made, provide the claimant with a report as to the progress of the claim; and\n\t(b)\tprovide the claimant with subsequent progress reports, each within 6 months after the previous such report, until such time as the claim is determined.\n26—Claimant's entitlement to compensation and interest\nFor the purposes of section 39(2) of the Act, the rate of interest by which a claimant's entitlement to compensation is to be increased is 5% per annum.\nSchedule 1—Repeal and transitional provision\nPart 1—Repeal of Conveyancers Regulations 2010\n1—Repeal of regulations\nThe Conveyancers Regulations 2010 are repealed.\nPart 2—Transitional provision\n2—Approved schemes\nAn approved scheme within the meaning of the Conveyancers Regulations 2010 (as in force immediately before the commencement of these regulations) will be taken to be an approved scheme within the meaning of these regulations.\nLegislative history\nNotes\n\t•\tFor further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au.\nPrincipal regulations\nYear\nNo\nReference\nCommencement\n2025\n83\nGazette 7.8.2025 p3016 \n7.8.2025: r 2\n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"These Regulations largely restate and modernise the existing regulatory framework for conveyancers (trust‑account conduct, audit requirements and professional indemnity insurance) rather than expanding the core subject‑matter. The 2010 Regulations are repealed and existing approved schemes are carried over (Schedule 1). The main changes are increased specificity on electronic recordkeeping (shorter backup windows, software control requirements), clearer Commissioner powers over a master professional indemnity scheme (including explicit power to impose levies or charges) and a specific, named use for indemnity fund monies (reg 24). Those are refinements and administrative updates that increase compliance detail and regulatory discretion but do not materially broaden the categories of activity or persons regulated beyond the original purpose."},"complexity_factors":["26 individual regulations plus a Schedule with repeal and transitional provisions","4 defined terms in the Interpretation (Act, approved scheme, BSB number, professional indemnity insurance)","Extensive cross‑references to the Conveyancers Act 1994 (eg. Part 4 Division 2, sections 8, 9, 15, 17, 24, 31, 34, 37, 39), increasing reading required to understand full effect","Multiple, differing time limits and deadlines (14 days for notifications, 24 hours for electronic copy after changes, monthly backups, 2 business days for record entries, monthly reconciliations, 2 months for audit statements, 3 months to transfer earned fees)","Numerous conditional exceptions for computerised record systems spread across regs 11, 12(3), 15(2)–(3), 16(7)","Repeated monetary sanctions and expiation fees across many provisions (several $2,500 maximum penalties; $160 expiation fees in multiple places)","Detailed audit procedures and reporting requirements with nested obligations and exceptions (reg 19(2)–(7)), including auditor reporting duties and exclusions on who may audit (reg 23)","Discretionary regulatory powers: Commissioner may waive fees, approve and amend master insurance scheme and set enforcement mechanisms (regs 4, 8, 19, 25), creating conditional pathways requiring administrative interpretation","Specific allocation of indemnity fund spending to a named private organisation (reg 24), producing an atypical substantive clause within otherwise procedural rules"],"plain_english_summary":"**What these regulations do (mechanics)\n\n- Set detailed administrative and conduct rules for people and firms registered as conveyancers, supplementing the Conveyancers Act 1994.\n- Require annual returns and evidence about professional indemnity insurance; set when the fee and return must be lodged (reg 5).\n- Require prompt written notification to the Commissioner of changes in contact details, business name, business address, partnerships or directors (14‑day time limit) and mandate notice on ceasing business (reg 6).\n- Create Commissioner powers to approve a master professional indemnity insurance scheme, to require participation, set premium/levy arrangements and publish the scheme (reg 8).\n- Prescribe how trust money must be received, recorded, paid and audited, including rules for receipts, cash books, separate client ledger accounts, monthly reconciliations, transfer of earned fees from trust to office accounts within 3 months, and audit standards and timing (regs 9, 11–20, 15–19).\n- Prescribe electronic recordkeeping safeguards for computerised systems (daily/24‑hour/ monthly backups, hard‑copy before deletion, production of hard copies on audit request) and controls on software behaviour (eg, preventing deletion or unshown changes) (regs 11, 15(2)–(3), 16(7)).\n- Set timing for payment of interest from authorised deposit‑taking institutions (ADIs) to the Commissioner (quarterly or monthly options) (reg 10).\n- Establish an indemnity fund spending authorisation for particular advisory and education services provided by the Australian Institute of Conveyancers South Australian Division Inc (reg 24).\n- Prescribe claims procedures, progress reporting obligations and an interest rate on compensation awards (regs 25–26).\n- Repeal the 2010 Regulations and treat previously approved insurance schemes as approved schemes under these regulations (Schedule 1).\n\nWho is directly affected\n\n- Registered conveyancers (individuals, firms and companies). They must comply with notification, recordkeeping, trust‑account handling, audit and insurance requirements (regs 5–20, 23).  \n- Auditors of conveyancers (standards, who may be excluded from auditing) (regs 19, 23).  \n- Insurers and any master policy scheme approved by the Commissioner (reg 8).  \n- The Commissioner (administration, approval powers, publication, oversight and enforcement) (regs 4, 8, 19, 25).\n- The Australian Institute of Conveyancers South Australian Division Inc is named as an approved recipient of indemnity fund payments for specified advisory and education work (reg 24).\n\nWhy it matters (official aims, then operational trade‑offs)\n\n- The regulations aim to protect client trust money, make conveyancers’ trust dealings auditable and ensure conveyancers hold professional indemnity insurance (these are the stated operational purposes reflected across regs 8, 11–19 and 24).\n\n- Costs and incentives: the measures increase compliance costs for conveyancers. They must maintain detailed records, produce periodic hard copies/backups, undergo audits at prescribed intervals and carry (or show exemption from) approved professional indemnity insurance; approved schemes may levy premiums or other charges (regs 11, 15–19, 8(2)(d)). These are direct costs paid by conveyancers and ultimately borne by their businesses and clients.\n\n- Who decides: the Commissioner has substantial discretion — to waive, reduce or refund fees (reg 4); to approve and amend the professional indemnity scheme and publish it (reg 8); to set alternate audit dates on request (reg 19(1)(d)); and to require return of certificates (reg 7). That discretion concentrates administrative decisions in the regulator.\n\n- Compliance burden and implementation risk: the regulations specify many timeframes (14‑day notices, monthly reconciliations, two‑business‑day recording rules, 24‑hour electronic backup after changes, three‑month transfer of earned fees) that increase day‑to‑day operational overhead (regs 6, 11, 15, 16, 17, 18). They also require software controls and hard‑copy production, which raises IT and record retention costs and creates dependency on auditors and ADI statements (regs 11, 15(2)–(3), 16(7), 19).\n\n- Effects on market structure and private choice: because the Commissioner may impose a master insurance policy with variable premiums/levies on participants (reg 8(2)(d)), small or solo practitioners may face relatively higher proportional costs than larger firms. That may influence choices about whether to continue operating independently, merge, or change business model.\n\n- Concentrated benefits and accountability: the indemnity fund can be applied to pay for advisory and educational services provided by the Australian Institute of Conveyancers South Australian Division Inc (reg 24(a)–(c)). That is a specified, positive allocation of fund resources to a named organisation rather than a generic grant power.\n\n- Enforcement and remedy: penalties for breaches are generally capped (commonly $2,500) and some failures attract an expiation fee ($160 in specified cases) (see regs 5–7 and others). The Commissioner must also provide claimants with progress reports and may approve determinations on claims (regs 25–26).\n\nNet operational effect in plain terms\n\n- Conveyancers must run more rigorous, auditable trust‑account systems, keep local and off‑site backups, follow precise receipt/payment documentation rules, undergo audits, and either be covered by an approved master professional indemnity scheme (or show they are not required to be) (regs 11–19, 8).\n- The Commissioner gains explicit authority to design and require participation in an insurance scheme, impose levies or fees under it, and to supervise and enforce recordkeeping and audit standards (regs 4, 8, 19, 25).\n\n(Selected section references: annual return & insurance evidence reg 5; notifications reg 6; approved insurance scheme reg 8; electronic records & backup regs 11, 15; client ledger & reconciliation regs 16–17; audit requirements reg 19; indemnity fund uses reg 24; claims & reporting regs 25–26.)"},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"issue_detection":{"absurdities":[],"contradictions":[]},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope assessment is not possible — the actual text of the Conveyancers Regulations 2025 (SA) was not accessible from the provided content. Only a website error page was returned. No comparison between original intent and enacted scope can be made."},"complexity_factors":["No legislative content was retrievable — the source URL returned a 404 'Page Not Found' error","The document provided contains only website navigation elements, error messages, and acknowledgement text","No substantive provisions, definitions, schedules, or operative clauses are present to analyse","Complexity cannot be meaningfully assessed without access to the actual instrument"],"plain_english_summary":"The Conveyancers Regulations 2025 (SA) could not be retrieved (link returned “Page Not Found”), so no text was available for analysis. Based on usual practice, the instrument would set rules for licensed conveyancers and their practice in South Australia.\n\nIf enacted, it would affect conveyancers, firms handling property settlements, and consumers by shaping licensing standards, professional conduct, trust‑account handling and consumer protections — matters that directly influence how property transactions are conducted and regulated."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This appears to be a straightforward remake of the Conveyancers Regulations 2010 (which are explicitly repealed in Schedule 1). The scope remains tightly focused on the operational regulation of conveyancers' trust accounts, professional insurance, and administrative requirements under the Conveyancers Act 1994. There is no indication of significant expansion beyond the original regulatory purpose."},"complexity_factors":["26 regulations with multiple subregulations, many containing nested requirements (e.g., regulation 20(1) has 6 nested paragraphs with multiple sub-points)","Extensive cross-referencing to the Conveyancers Act 1994 (e.g., 'for the purposes of section 23(2)(a) of the Act')","Multiple conditional exemptions and alternative compliance pathways (e.g., regulations 12(3), 15(2), 16(7) provide computer-based alternatives to manual record-keeping with specific technical requirements)","Defined terms in the interpretation section (regulation 3) plus additional definitions embedded within specific regulations (e.g., 'conveyancer' redefined in regulations 8(5) and 21(5) to include former conveyancers)","Time-based compliance requirements with varying periods (14 days for notifications, 2 business days for records, 3 months for transfers, 6 months for claim progress reports)","Penalty provisions attached to many regulations ($2,500 maximum penalty) with some also specifying lower expiation fees ($160)","Technical financial record-keeping requirements including BSB numbers, reconciliation statements, and specific cheque marking requirements","Transitional provisions preserving approved schemes from the repealed 2010 regulations"],"plain_english_summary":"**What this legislation does:**\n\nThese regulations set out the detailed rules that registered conveyancers in South Australia must follow when handling client money and running their businesses. A \"conveyancer\" is a licensed professional who handles legal work related to buying and selling property (like preparing transfer documents and conducting title searches).\n\n**Key areas covered:**\n\n*   **Fees and registration:** Rules about annual fees, returns, and when the Commissioner (the government regulator) can waive or reduce fees.\n*   **Keeping the Commissioner informed:** Conveyancers must notify the Commissioner within 14 days of changes to their address, business name, partnership arrangements, or company directors.\n*   **Insurance:** Requirements for professional indemnity insurance (insurance that covers conveyancers if they make mistakes that cost their clients money), including approval of insurance schemes by the Commissioner.\n*   **Trust money rules:** Detailed requirements for handling client money held in trust accounts, including:\n    *   How receipts must be issued and what information they must contain\n    *   How payments must be made (no cash payments allowed)\n    *   Record-keeping requirements (cash books, separate ledger accounts for each client)\n    *   Monthly reconciliation statements (checking that the books match the bank account)\n    *   Computer program requirements for electronic record-keeping\n*   **Audits:** Conveyancers must have their trust accounts audited regularly by independent auditors, with specific procedures for what auditors must check and report.\n*   **Indemnity fund:** Rules about a compensation fund that can pay out to clients who lose money due to dishonest or negligent conveyancers, including funding for education and advisory services.\n*   **Claims process:** Procedures for making and determining claims against the indemnity fund, including timeframes for progress reports.\n\n**Who it affects:**\n\n*   Registered conveyancers in South Australia\n*   Clients who use conveyancing services\n*   The Commissioner for Consumer Affairs (the regulator)\n*   Auditors who examine conveyancers' accounts\n*   Insurance providers offering professional indemnity coverage\n\n**Why it matters:**\n\nProperty transactions involve large sums of money, and clients need confidence that their funds are being handled safely. These regulations create a framework of accountability—ensuring conveyancers keep proper records, are adequately insured, can be audited, and that there's a safety net (the indemnity fund) if things go wrong. The rules are designed to prevent fraud, ensure transparency, and maintain professional standards in the property conveyancing industry."}},"importantCases":[],"_links":{"self":"/api/acts/conveyancers-regulations-2025","history":"/api/acts/conveyancers-regulations-2025/history","analysis":"/api/acts/conveyancers-regulations-2025/analysis","conflicts":"/api/acts/conveyancers-regulations-2025/conflicts","importantCases":"/api/acts/conveyancers-regulations-2025/important-cases","documents":"/api/acts/conveyancers-regulations-2025/documents"}}