{"id":"land-agents-regulations-2025","name":"Land Agents Regulations 2025","slug":"land-agents-regulations-2025","collection":"regulation","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":235674,"registerId":"sa-land-agents-regulations-2025-current","compilationNumber":null,"startDate":"2026-04-06","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Land Agents Regulations 2025","content":"South Australia\nLand Agents Regulations 2025\nunder the Land Agents Act 1994\n\nContents\nPart 1—Preliminary\n1\tShort title\n2\tCommencement\n3\tInterpretation\n4\tFees—waiver, reduction and refund\nPart 2—Registration and management of agent's business\n5\tDefinition of property manager\n6\tRegistration as sales representative subject to conditions relating to training and supervision\n7\tRegistration as property manager subject to conditions relating to training and supervision\n8\tAnnual fee and return\n9\tNotification of change in circumstances etc\n10\tReturn or replacement of certificate of registration and card\n11\tEach of agent's places of business to be properly managed and supervised\n12\tRegulations relating to proper management and supervision\nPart 3—Trust accounts and indemnity fund\nDivision 1—Preliminary\n13\tInterpretation of Part 3\n14\tExemptions\nDivision 2—Trust accounts\n15\tElectronic records relating to trust accounts\n16\tPayment of interest on trust accounts to Commissioner\n17\tReceipt of trust money\n18\tPayment of trust money\n19\tKeeping of records\n20\tCash books\n21\tSeparate trust ledger accounts\n22\tReconciliation statements\n23\tTransfer of money from trust account to office account\n24\tAudit of trust accounts\n25\tAgent's statement\n26\tAudit when agent ceases to carry on business\n27\tAudit and report etc for firm operates for each partner\n28\tCertain persons may not audit accounts and records of agent\nDivision 3—Indemnity fund\n29\tIndemnity fund\n30\tEstablishment and determination of claims\n31\tClaimant's entitlement to compensation and interest\nSchedule 1—Repeal of Land Agents Regulations 2010\nLegislative history\n\nPart 1—Preliminary\n1—Short title\nThese regulations may be cited as the Land Agents 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 Land Agents Act 1994;\nBSB number (Bank State Branch number) means the number assigned to identify a particular branch of a particular ADI.\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.\nPart 2—Registration and management of agent's business\n5—Definition of property manager\nPursuant to paragraph (d) of the definition of property manager in section 3 of the Act, the function of conducting inspections of a property for the purposes of a residential tenancy agreement is prescribed.\n6—Registration as sales representative subject to conditions relating to training and supervision\nFor the purposes of section 8B(4) of the Act, a sales representative will not be taken to be properly supervised unless the sales representative is under the direct supervision of an individual—\n\t(a)\twho is a registered agent; or\n\t(b)\twho is a registered sales representative (other than a sales representative registered under section 8B of the Act)—\n\t(i)\twho has been a sales representative (other than a sales representative registered under section 8B of the Act) for an agent for a total of at least 2 years; or\n\t(ii)\twho has been a registered agent or a sales representative (other than a sales representative registered under section 8B of the Act) for an agent (or both) for a total of at least 2 years; or\n\t(c)\twho has the required combination of experience determined by the Commissioner by notice published on a website maintained by the Commissioner.\n7—Registration as property manager subject to conditions relating to training and supervision\nFor the purposes of section 8BB(4) of the Act, a property manager will not be taken to be properly supervised unless the property manager is under the direct supervision of an individual—\n\t(a)\twho is a registered agent; or\n\t(b)\twho is a registered property manager (other than a property manager registered under section 8BB of the Act) who has been a property manager (other than a property manager registered under section 8BB of the Act) for an agent, for a total of at least 2 years; or\n\t(c)\twho is a registered sales representative (other than a sales representative registered under section 8B of the Act) who has been additionally registered as a property manager (other than a property manager registered under section 8BB of the Act) for an agent for a total of at least 2 years; or\n\t(d)\twho has the required combination of experience determined by the Commissioner by notice published on a website maintained by the Commissioner.\n8—Annual fee and return\nFor the purposes of section 9(2) of the Act, a registered person 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 person 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 person's registration was granted.\n9—Notification of change in circumstances etc\n\t(1)\tIf there is any change in—\n\t(a)\tthe residential address of a registered agent; or\n\t(b)\tthe postal or email address of a registered agent provided to the Commissioner for purposes connected with their registration; or\n\t(c)\tthe business or trading name under which a registered agent carries on business; or\n\t(d)\tthe address at which a registered agent carries on business; or\n\t(e)\tthe address of the registered corporate office of a registered agent that is a body corporate,\nthe agent 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)\tIf there is any change in the—\n\t(a)\tresidential address of a registered sales representative or registered property manager; or\n\t(b)\tpostal or email address of a registered sales representative or registered property manager provided to the Commissioner for purposes connected with their registration,\nthe sales representative or property manager must, within 14 days after that change, give written notice to the Commissioner of the new address.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(3)\tA registered agent must, within 14 days after ceasing to carry on business as an agent, give written notice to the Commissioner of that fact.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(4)\tA registered agent must, within 14 days after entering into partnership to carry on business as an agent 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 body corporate that is a registered agent, the agent 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 8(2) of the Act.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n10—Return or replacement of certificate of registration and card\n\t(1)\tIf a person's registration is surrendered, suspended or cancelled, the person must, at the direction of the Tribunal or the Commissioner, return the certificate of registration and any registration card to the Commissioner.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(2)\tIf, on an application under section 7 of the Act, a registration certificate or card 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 or card to the Commissioner.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n\t(3)\tThe Commissioner may issue to a registered person a registration certificate or card in replacement of a current registration certificate or card if satisfied that—\n\t(a)\tthe current certificate or card has been lost, destroyed or damaged; or\n\t(b)\tany particulars appearing on the current certificate or card are incorrect.\n\t(4)\tIf the Commissioner issues to a registered person a replacement registration certificate or card, the person must, at the direction of the Commissioner, return the original (or previous duplicate) registration certificate or card to the Commissioner.\nMaximum penalty: $2 500.\nExpiation fee: $160.\n11—Each of agent's places of business to be properly managed and supervised\nFor the purposes of section 11 of the Act, a place of business of an agent will be properly managed and supervised by an individual nominated to the Commissioner if—\n\t(a)\tthe individual is a registered sales representative; and\n\t(b)\tthe individual has been nominated in a form approved by the Commissioner; and\n\t(c)\tthe Commissioner has approved the individual as an individual qualified to be nominated to manage and supervise a place of business of an agent.\n12—Regulations relating to proper management and supervision\n\t(1)\tFor the purposes of section 11A of the Act, a registered agent will not be taken to properly manage and supervise a business or place of business referred to in that section unless—\n\t(a)\tthe agent makes written procedures readily available to all employees who handle trust money instructing those employees in the proper handling of such money; and\n\t(b)\tthe agent, in respect of each place of business managed and supervised by an individual other than a registered agent ensures that—\n\t(i)\ta registered agent who is an individual is responsible for managing the trust accounts; and\n\t(ii)\tthe individual nominated to manage and supervise the place of business and all other persons employed at the place of business are instructed as to their obligations under the Act, these regulations and any other relevant laws; and\n\t(iii)\tprocedures are in place to enable the agent to ascertain whether the individual nominated to manage and supervise the place of business is managing and supervising the place of business properly and with due care and diligence (including inspection by a registered agent who is an individual, at least once per month, of the place of business and of previously uninspected prescribed business documents of the agent held at the place of business).\n\t(2)\tIn this regulation—\nprescribed business documents of an agent means documents or copies of documents relating to the sale or purchase of land or a business in respect of which the agent has been authorised to act and includes—\n\t(a)\tsales agency agreements; and\n\t(b)\tauction records; and\n\t(c)\ttrust account records.\nPart 3—Trust accounts and indemnity fund\nDivision 1—Preliminary\n13—Interpretation of Part 3\nFor the purposes of paragraph (b) of the definition of auditor in section 12 of the Act, a person meets the prescribed requirements if the person—\n\t(a)\tholds a degree in commerce, accounting, business studies or a related field from an Australian university or from another university approved by the Commissioner; and\n\t(b)\tis a member of—\n\t(i)\tChartered Accountants Australia and New Zealand; or\n\t(ii)\tCPA Australia; and\n\t(c)\tmeets the requirements of a body referred to in paragraph (b) to practise as a public accountant; and\n\t(d)\thas been continuously engaged for at least 3 years in practice as a public accountant in this State (whether or not as an employee of a public accountant).\n14—Exemptions\n\t(1)\tAn agent is exempt from the operation of Part 3 Division 2 of the Act and regulations 18(2) and 25(1)(d) in respect of the receipt and delivery of a cheque by the agent if the cheque—\n\t(a)\tis a crossed cheque expressed to be payable to a person or persons not being or including the agent (whether or not it is also expressed to be payable to bearer); and\n\t(b)\tis held by the agent 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.\n\t(2)\tAn agent is exempt from the operation of section 21(2) of the Act in respect of the receipt of payments of rent (within the meaning of the Residential Tenancies Act 1995) into the agent's trust account.\n\t(3)\tAn agent is exempt from the application of the Act to the extent that the agent—\n\t(a)\tsells, purchases or otherwise deals with businesses or land (other than residential land or rural land) on behalf of an affiliated entity; or\n\t(b)\tsells, purchases or otherwise deals with businesses or land (other than residential land or rural land) on behalf of an entity that owns (whether or not together with any affiliated entity) any property that has—\n\t(i)\tan aggregate market value of $10 million or more; or\n\t(ii)\tan aggregate gross floor area of 10 000 square metres or more,\nor conducts negotiations for that purpose.\n\t(4)\tFor the purposes of subregulation (3)—\naffiliated entity, in relation to a person, means—\n\t(a)\tan entity that is controlled (within the meaning of section 50AA of the Corporations Act 2001 of the Commonwealth) by the person; or\n\t(b)\ta related entity (within the meaning of section 9 of the Corporations Act 2001 of the Commonwealth) of the person;\nrural land means land used, intended to be used, or apparently intended to be used, wholly or mainly for agricultural, pastoral, horticultural or viticultural purposes.\n\t(5)\tA person who acts as a property manager for an agent is exempt from the operation of section 6AB(1) of the Act if—\n\t(a)\tthe agent is a community housing provider registered under the Community Housing Providers National Law; and\n\t(b)\tthe person is an employee engaged by the agent under a contract of service; and\n\t(c)\tthe person performs the functions of a property manager for or on behalf of the agent in relation to land—\n\t(i)\towned by the agent; or\n\t(ii)\theld by or on behalf of a Minister, agency or instrumentality of the Crown or a council.\n\t(6)\tAn agent is exempt from the operation of section 6AB(3) of the Act in respect of the engagement of another person to perform the functions of a property manager in the course of the agent's business if—\n\t(a)\tthe agent is a community housing provider registered under the Community Housing Providers National Law; and\n\t(b)\tthe other person is engaged to perform those functions as an employee under a contract of service; and\n\t(c)\tthe land in relation to which the other person performs those functions is—\n\t(i)\towned by the agent; or\n\t(ii)\theld by or on behalf of a Minister, agency or instrumentality of the Crown or a council.\n\t(7)\tIn this regulation—\ncouncil means a council under the Local Government Act 1999.\nDivision 2—Trust accounts\n15—Electronic records relating to trust accounts\nIf an agent uses a computer program to keep records under Part 3 Division 2 of the Act, the agent must ensure that, in addition to any other requirements relating to the making or keeping of electronic records under this Division—\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; 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 agent as part of the agent'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.\n16—Payment of interest on trust accounts to Commissioner\nFor the purposes of section 15 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.\n17—Receipt of trust money\n\t(1)\tFor the purposes of section 21(2)(a) of the Act, the receipt that an agent 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 agent 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 an agent's trust account—the date on which the agent 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 agent'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)\tAn agent must make out a receipt in accordance with section 21(2) of the Act and this regulation—\n\t(a)\tin the case of a payment made by electronic transfer of funds into an agent's trust account—immediately the agent receives official confirmation that the payment has been made (whether that is by way of receipt by the agent 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)\tAn agent need not comply with subregulation (1)(a) or section 21(2)(b) of the Act if the agent 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 agent 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).\n18—Payment of trust money\n\t(1)\tAn agent must not make a payment of trust money in cash.\nMaximum penalty: $2 500.\n\t(2)\tWhen an agent makes a payment of trust money by cheque, the agent—\n\t(a)\tmust ensure that the cheque is marked with the name of the agent 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 agent's records.\nMaximum penalty: $2 500.\n\t(3)\tWhen an agent makes a payment of trust money by cheque, the agent must prepare and keep as part of the agent'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 an agent authorises the payment of trust money by electronic transfer of funds, the agent—\n\t(a)\tmust prepare and keep as part of the agent'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 agent's records.\n19—Keeping of records\nFor the purposes of section 21(1)(c) of the Act, the detailed accounts of receipts and disbursements of trust money to be compiled by an agent must comply with regulations 20, 21 and 22.\n20—Cash books\n\t(1)\tAn agent must keep as part of the agent's records—\n\t(a)\ta cash receipts book in which the agent 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 agent 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)\tAn agent need not keep a cash receipts book or a cash payments book as required by subregulation (1) if the agent 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)\tAn agent 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 agent's records.\n\t(4)\tThe records of receipts and payments must be made by the agent in accordance with this regulation in the order in which they are received or made, each such record being made within 2 working 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 working days after the agent receives official confirmation that the transfer has occurred.\n21—Separate trust ledger accounts\n\t(1)\tAn agent must ensure that the agent's trust ledger accounts are kept separately—\n\t(a)\tin respect of each of the agent's clients; and\n\t(b)\tif the agent 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 agent 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 agent 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 agent 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 agent 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 working 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 working days after the agent receives official confirmation that the transfer has occurred.\n\t(7)\tIf an agent uses a computer program to keep trust ledger accounts or a transfer journal, the agent 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 0; 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 an agent uses a computer program to keep trust ledger accounts or a transfer journal, the agent must, within 2 working days of a request from the Commissioner or the agent's auditor, produce hard copies of the trust ledger accounts or transfer journal.\nMaximum penalty: $2 500.\n22—Reconciliation statements\n\t(1)\tAn agent must, at the end of each month, prepare and keep as part of the agent's records—\n\t(a)\ta statement reconciling the balance of the agent's cash books, or equivalent computer records, kept under regulation 20 with the balance of the agent's trust account; and\n\t(b)\ta statement reconciling the balances of the ledgers comprised in the agent's trust ledger accounts with the balance of the agent's trust account.\n\t(2)\tThe agent 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).\n23—Transfer of money from trust account to office account\nAn agent who becomes entitled to money held in the agent's trust account in or towards satisfaction of the agent'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 agent for receipts other than trust money.\nMaximum penalty: $2 500.\n24—Audit of trust accounts\n\t(1)\tFor the purposes of section 22(1)(a) of the Act, the audit period in respect of which an agent must have the accounts and records audited is the period from—\n\t(a)\tthe end of the agent's last audit period (whether under the Act or the repealed Land Agents, Brokers and Valuers Act 1973); or\n\t(b)\tin the case of an agent being granted registration—the date of registration,\nuntil—\n\t(c)\t2 months before the date next occurring on which the agent must lodge an annual return; or\n\t(d)\tif the Commissioner fixes some other date at the request of the agent—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 agent has, during the period covered by the audit, complied with the Act and these regulations relating to the agent's accounts and records; and\n\t(b)\tascertain whether a trust account under Part 3 Division 2 of the Act was kept by the agent during that period; and\n\t(c)\tmake a general test examination of any trust account kept by the agent 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 agent to the agent's clients as shown by the agent'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 agent'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 22(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 agent'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 agent has complied with the auditor's requirements;\n\t(d)\twhether, at any time during the period of the audit, the agent's trust account was overdrawn and, if so, the full explanation for that given by the agent;\n\t(e)\twhether the agent has, or has had, any debit balances in their trust account and the explanation or reason for such a debit given by the agent;\n\t(f)\twhether the auditor has received and examined the notice given to the auditor under regulation 25 and the result of that examination;\n\t(g)\twhether the agent has complied with section 13 of the Act;\n\t(h)\tif the agent uses a computer program to keep the agent'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 agent.\n\t(6)\tIf the auditor in the course of auditing the agent'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 agent; 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 agent 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 22(3)(b) of the Act, an agent must lodge an audit statement or declaration within 2 months after the end of each audit period, or such longer period as may be determined by the Commissioner by notice in writing to the agent, after the end of each audit period.\n25—Agent's statement\n\t(1)\tAn agent who is required to have accounts and records audited under Part 3 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 agents—under the hands of not less than 2 partners of the firm; or\n\t(c)\tin the case of a body corporate agent—under the hands of not less than 2 directors of the body or, if the body corporate 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 agent 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 agent which represent money drawn from the agent's trust account and which were held by the agent on that day; and\n\t(f)\t—\n\t(i)\tthe names of the trust accounts in which the balance of the agent'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 agent's ledger accounts—a statement reconciling those balances.\nMaximum penalty: $2 500.\n\t(2)\tThe agent must give the auditor making the next succeeding audit of the agent'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 agent's accounts and records; or\n\t(b)\tif the agent'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.\n26—Audit when agent ceases to carry on business\n\t(1)\tIf an agent ceases to carry on business as an agent, the agent, or, if the agent has died, the agent's personal representative, must—\n\t(a)\tcause the agent's accounts and records kept under Part 3 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 agent'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 agent'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 agent, or their personal representative, must continue to comply with the Act and these regulations as if the agent had not ceased to carry on business until the agent'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 an agent who, before ceasing to carry on business, was a member of a firm if all continuing members of the firm and (unless the agent is dead) the agent 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—\nagent includes a former agent.\n27—Audit and report etc for firm operates for each partner\nAn audit of accounts and records kept by a firm of agents 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 agent who is a member of the firm.\n28—Certain persons may not audit accounts and records of agent\nA person must not audit the accounts and records of an agent if the person—\n\t(a)\tis, or has been within 2 years, an employee or partner of the agent; or\n\t(b)\tis an employee of another agent actually carrying on business as an agent; or\n\t(c)\tis, himself or herself, an agent carrying on business as an agent.\nMaximum penalty: $2 500.\nDivision 3—Indemnity fund\n29—Indemnity fund\n\t(1)\tFor the purposes of section 29(2) of the Act, money constituting, or forming part of, the indemnity fund may be invested as authorised by the Minister.\n\t(2)\tFor the purposes of section 29(4) 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—\n\t(a)\tthe educational program known as the Professional Development Program conducted by the Real Estate Institute of South Australia Incorporated for the benefit of agents, sales representatives and property managers; or\n\t(b)\tthe advisory service relating to the real estate industry conducted by the Real Estate Institute of South Australia Incorporated for the benefit of members of the public, including the preparation and publication of brochures and other materials as part of that service; or\n\t(c)\tthe education program known as SA HomeBuyers Free Information Seminars conducted by SA HomeBuyers Incorporated for the benefit of members of the public.\n30—Establishment and determination of claims\n\t(1)\tFor the purposes of section 32(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 agent or former agent informing them of the Commissioner's receipt of the claim and including—\n\t(a)\tin the case of a notice given to the agent or former agent—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 32(2)(b) of the Act; and\n\t(ii)\tthe parties' rights of review under section 35 of the Act against a determination of the claim by the Commissioner.\n\t(2)\tFor the purposes of section 32(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.\n31—Claimant's entitlement to compensation and interest\nFor the purposes of section 37(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 of Land Agents Regulations 2010\nThe Land Agents Regulations 2010 are repealed.\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\n84\nGazette 7.8.2025 p3031 \n7.8.2025: r 2\n","sortOrder":0}],"analysis":{"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"},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope cannot be assessed as no legislative content was provided. The document is a 404 error page from the SA legislation website, not the Land Agents Regulations 2025 themselves."},"complexity_factors":["No legislative content is present in the provided text — it is entirely a website error page","No provisions, definitions, schedules, or operative clauses to assess","Complexity cannot be meaningfully rated for the actual regulations without access to their text"],"plain_english_summary":"## ⚠️ Document Not Available\n\nThis document does not contain any actual legislation. Instead, it appears to be a **'Page Not Found' error page** from the South Australian legislation website (legislation.sa.gov.au).\n\nThe link or bookmark used to access the *Land Agents Regulations 2025* (South Australia) is broken or outdated — likely because the website underwent a major update on **24 March 2026** that changed how pages are addressed.\n\n**What this means for you:**\n- The actual content of the *Land Agents Regulations 2025* could **not be retrieved or analysed**.\n- If you need this legislation, try searching directly at [legislation.sa.gov.au](https://www.legislation.sa.gov.au) for \"Land Agents Regulations 2025\".\n- If you believe there is a website error, you can report it to **OPCWeb@sa.gov.au**.\n\n*No legal analysis of the regulations themselves is possible based on this content.*"},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":true,"description":"The 2025 Regulations both consolidate and expand the operational detail compared with typical earlier subordinate instruments. They add and tighten technical obligations (detailed electronic record/backup rules, technical computer‑program specifications, explicit monthly inspection and reconciliation duties, and precise audit processes) while also introducing new, targeted exemptions (for in‑house dealings on behalf of affiliated entities and for transactions involving very large property owners; and specific exemptions for community housing providers). The instrument also specifies permitted uses of the indemnity fund for named industry education and public‑information programs. These changes go beyond simple restatement or administrative updating: they broaden exemptions for certain concentrated groups, introduce modern IT and backup obligations affecting all agents, and allocate indemnity‑fund resources to explicit programs. (See rr 14, 15, 20–24, 29.)"},"complexity_factors":["Comprehensive multi‑part structure (3 Parts, Divisions and Schedule) with many procedural requirements across registration, supervision, trust accounting, audit and indemnity fund","Extensive cross‑references to the Land Agents Act 1994 (eg. ss 8B, 8BB, 9, 11, 21, 22, 29, 32, 35) and to other statutes (Corporations Act definitions used in r 14)","Multiple defined terms and state‑specific qualification requirements (r 3; r 13) including nested definitions (eg. affiliated entity in r 14(4))","Numerous conditional supervision rules with alternative pathways (rr 6–7 include multiple subparagraphs and Commissioner‑determined experience options)","Detailed and technical electronic record requirements spread across regs (rr 15, 20–21) requiring IT, backup and hard‑copy procedures","Complex audit regime with multi‑step obligations for auditors and agents, timing windows, exceptions and mandatory reporting to the Commissioner (rr 24–28)","Layered exemptions with quantitative thresholds (r 14(3): $10m or 10,000 m²) that change scope of regulation for particular transactions","Significant administrative discretion conferred on the Commissioner (fee waivers, experience notices, approvals, alternative audit dates) increasing conditionality","Repeated monetary penalties and expiation fees across many provisions (consistent amounts but applied in multiple places)","Specific earmarking of indemnity fund expenditures to named organisations and programs (r 29(2)) which adds sector‑specific policy content to financial rules"],"plain_english_summary":"**What this instrument does (mechanically)**\n\n- Replaces the Land Agents Regulations 2010 and sets detailed operational, record-keeping, supervision and trust‑account rules for people and businesses registered under the Land Agents Act 1994 (\"agents\", sales representatives and property managers). (Schedule 1)\n- Authorises the Commissioner to waive or reduce prescribed fees in particular cases. (r 4)\n- Prescribes who counts as a property manager for the Act and what supervision or training is needed for sales representatives and property managers to be treated as properly supervised. (rr 5–7)\n- Sets timing for annual fee/return lodgement and lists notification duties (change of address, business name, ceasing business, partnership changes, director appointments) with specified penalties and expiation fees. (rr 8–10)\n- Requires each place of business to be nominated and approved for management/supervision and specifies written procedures and monthly checks for places of business that are managed by non-registered agents. (rr 11–12)\n- Lays down who qualifies to audit trust accounts (degree, membership of CA/CPA, 3 years’ continuous practice in the State). (r 13)\n- Creates a set of exemptions (for certain crossed cheques, rent payments, in‑house dealings for affiliated entities, large owners, and community housing providers) and defines terms used for those exemptions. (r 14)\n- Sets minimum electronic recordkeeping and off‑site backup rules where an agent uses computer systems, and requires hard copies before deletion. (r 15)\n- Specifies when interest earned on trust accounts is to be paid to the Commissioner. (r 16)\n- Prescribes the form and timing of trust receipts, restrictions on cash payments from trust money, cheque and electronic payment documentation, and detailed record‑keeping requirements for receipts/payments. (rr 17–19)\n- Requires separate client ledger accounts, transfer journals, monthly reconciliations and sets timelines for recording transactions. Also places technical requirements on computer programs used for ledgers (audit-proofing, hard-copy generation). (rr 20–23)\n- Sets the audit period, the scope and content of audit work and auditor reports, auditor reporting obligations to the Commissioner on discoveries (including suspected dishonesty, losses, non‑compliance), and timing for lodging audit statements. (rr 24–28)\n- Regulates the indemnity fund: investment by Minister, permitted uses (including payment towards specific education and public‑information programs run by named bodies), the claim notification and progress reporting process, and interest on compensation claims (5% p.a.). (rr 29–31)\n\n**Who is affected**\n\n- Registered agents (individuals and corporate), registered sales representatives and registered property managers: governance, supervision and trust‑account rules apply directly (rr 6–7, 11–12, Part 3). \n- Auditors: must meet qualification and independence requirements (r 13; r 28). \n- Authorised deposit-taking institutions (ADIs): must remit interest in the schedule set by regulation 16. \n- Community housing providers and large or affiliated entities: specific exemptions alter the regulatory burden for certain activities (r 14). \n- The Commissioner: receives delegated powers to approve nominations, determine experience requirements by notice, waive fees, fix audit dates and require information (rr 4, 6(c), 7(d), 11, 24(1)(d), 15, 21(7)–(8)). \n- Named industry bodies (Real Estate Institute of South Australia; SA HomeBuyers Incorporated): explicitly listed as permitted recipients of indemnity‑funded education and advisory programs (r 29(2)).\n\n**Why it matters (practical implications)**\n\n- Consumer protection mechanics: the rules put detail around how trust money must be received, recorded, reconciled and audited, and give the Commissioner and auditors powers to uncover and report deficiencies. These are the operational levers intended to reduce mishandling of client funds (Part 3; rr 17–24).\n\n- Business compliance and cost effects: agents must maintain stricter recordkeeping (including electronic back‑ups, hard copies before deletion), monthly reconciliations, and regular audits; smaller operators are likely to face additional administrative costs (rr 15, 20–22, 24). Auditors must meet specified qualifications and independence requirements, which may affect audit availability and price (r 13; r 28).\n\n- Differential regulatory scope: the instrument both tightens controls (electronic record rules, supervision requirements, audit obligations) and narrows scope for certain transactions by introducing exemptions for in‑house or large institutional transactions and for community housing providers. Those exemptions reduce compliance costs for specific, concentrated groups (r 14).\n\n- Administrative discretion and predictability: the Commissioner has multiple discretions (to approve nominated managers, determine experience requirements by notice, waive fees, fix alternative audit dates, require information, etc.). This concentrates decision‑making with the regulator and creates variable compliance paths that can change by Commissioner notice rather than primary legislation (rr 4, 6(c), 7(d), 11, 24(1)(d), 15, 21(7)–(8)).\n\n**Costs, incentives, trade‑offs and implementation issues**\n\n- Compliance burden: detailed documentary, IT, backup and audit requirements impose direct costs (software, off‑site storage, auditor fees) and time costs (monthly reconciliations, monthly inspections where a non‑registered manager runs a branch—r 12(1)(b)(iii)). Those costs are borne by agents and ultimately may affect prices for services.\n\n- Concentrated benefits: exemptions (r 14(3)–(4)) primarily benefit in‑house transactions for affiliated entities and very large property owners (thresholds: $10 million aggregate value or 10,000 m² gross floor area). The indemnity fund permitted expenditures name particular industry bodies (r 29(2)), which concentrates fund‑use benefits.\n\n- Incentives and possible behavioural effects: the exemption thresholds could encourage structuring of transactions or corporate arrangements to fall within exemptions. Strict electronic and paper requirements could push smaller agents to centralise bookkeeping or adopt approved cloud services to meet the off‑site storage and hard‑copy requirements (r 15). Prohibiting cash payments from trust money (r 18(1)) and the 3‑month rule for transferring entitled funds to the office account (r 23) impose process timing constraints that change cash‑flow handling.\n\n- Auditor supply and cost risk: the qualification (degree, CA/CPA membership, 3 years’ continuous State practice) narrows the pool of eligible auditors (r 13). Independence restrictions (r 28) further limit choices, potentially raising auditor costs.\n\n- Regulatory discretion and legal uncertainty: use of Commissioner notices (experience requirements, approval processes, alternative audit dates) gives flexibility to the regulator but also creates uncertainty for businesses relying on stable, published rules (rr 6(c), 7(d), 11, 24(1)(d)).\n\n- Enforcement: penalties for notification, recordkeeping and other breaches are set (commonly maximum $2,500; expiation fee $160 in notification cases) which places a monetary cap on many contraventions but does not eliminate the risk of reputational or regulatory consequences (rr 9–10, 15, 21(7)–(8), others).\n\n**Concrete examples of potential practical impacts**\n\n- A small sole‑trader agent will likely need to upgrade their accounting software to meet automatic hard‑copy report and auditability rules (rr 15, 20–21), and budget for annual audits by a qualified independent auditor (r 13; rr 24–25).\n- A corporate agent that manages large institutional property portfolios may be exempt from some trust‑account obligations when transacting on behalf of an affiliated entity or very large owner (r 14(3)), reducing compliance costs for those specific transactions.\n- The indemnity fund can be invested by the Minister and used to pay for named education/public‑information programs run by particular industry bodies (r 29(1)–(2)). This redirects some fund resources toward training and public outreach rather than solely compensation payments.\n\n(References in parentheses are to regulation numbers in the Land Agents Regulations 2025.)"},"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The regulations appear consistent with the traditional scope of real estate agent regulation. They update operational details (particularly around electronic record-keeping and supervision requirements) but do not expand beyond the core purposes of the Land Agents Act 1994: registration management, trust account oversight, and consumer protection through the indemnity fund. The 2025 version replaces the 2010 regulations without apparent mission creep."},"complexity_factors":["Extensive cross-referencing to the parent Land Agents Act 1994 (sections 3, 6AB, 8, 8B, 8BB, 9, 11, 11A, 12, 13, 15, 21, 22, 29, 32, 35, 37)","Multiple nested conditions for supervision requirements (regulations 6 and 7 contain layered alternatives: registered agent OR experienced representative OR Commissioner-approved experience)","Seven separate exemption provisions in regulation 14 with complex defined terms ('affiliated entity' references Corporations Act 2001 sections 50AA and 9; 'rural land' has its own definition)","Detailed technical requirements for electronic record-keeping (regulation 15) and computer program specifications (regulation 21(7)) with multiple sub-paragraphs","Dual tracking for manual vs computerised record-keeping systems throughout Division 2 (regulations 17(3), 20(2)-(3), 21(7)-(8))","Multiple audit triggers and timing calculations (regulation 24(1)) with alternative dates and Commissioner discretion","Regulation 25 requires specific certification formats depending on business structure (individual, partnership with 2+ partners, or corporate with director variations)","27 defined regulatory obligations with associated penalty provisions ($2,500 maximum / $160 expiation fee pattern repeated 12 times)"],"plain_english_summary":"**What this legislation does:**\n\nThese regulations set the detailed rules for how real estate agents (called \"land agents\" in South Australia) must run their businesses, handle client money, and maintain professional standards. They operate under the main **Land Agents Act 1994**.\n\n**Who it affects:**\n- **Real estate agents** (registered agents who run agencies)\n- **Sales representatives** (people who sell property on behalf of agents)\n- **Property managers** (people who manage rental properties)\n- **Clients** of these professionals (buyers, sellers, landlords, tenants)\n- **Auditors** who check the agents' financial records\n\n**Key things the rules cover:**\n\n**Registration and supervision:**\n- New sales representatives and property managers must work under direct supervision of experienced registered agents or senior representatives (with at least 2 years' experience)\n- The Commissioner (the government regulator) can approve alternative experience combinations\n- Agents must notify the Commissioner within 14 days of changes to addresses, business names, directors, or partnerships\n\n**Trust accounts (client money):**\n- Agents must keep detailed records of all money held for clients in special \"trust accounts\"\n- Strict rules about receipts, payments, record-keeping, and monthly reconciliations (checking that the books match the bank balance)\n- Electronic records must be backed up within 24 hours and stored off-site monthly\n- No cash payments allowed from trust accounts\n- Audits must happen regularly by qualified accountants\n\n**Exemptions:**\n- Some large commercial property deals (over $10 million or 10,000 square metres) are exempt\n- Community housing providers get exemptions for their employees acting as property managers\n- Certain cheque handling is exempt from normal trust account rules\n\n**Indemnity fund:**\n- A fund exists to compensate people who lose money due to agent misconduct\n- Money in the fund can also be used for industry education and public information services\n- Claims must be acknowledged with a unique reference number and progress reports provided every 6 months\n- Successful claims earn 5% interest per annum\n\n**Why it matters:**\nThese rules protect the public from fraud and mismanagement in real estate transactions. Real estate involves large sums of money changing hands, so strict oversight ensures agents can't misuse client funds. The regulations also ensure new industry entrants are properly trained and supervised before operating independently.\n\n**Penalties:**\nMost breaches carry a maximum penalty of $2,500, with \"expiation fees\" (on-the-spot fines) of $160 for less serious offences like failing to notify the Commissioner of address changes."}},"importantCases":[],"_links":{"self":"/api/acts/land-agents-regulations-2025","history":"/api/acts/land-agents-regulations-2025/history","analysis":"/api/acts/land-agents-regulations-2025/analysis","conflicts":"/api/acts/land-agents-regulations-2025/conflicts","importantCases":"/api/acts/land-agents-regulations-2025/important-cases","documents":"/api/acts/land-agents-regulations-2025/documents"}}