4What is conveyancing work?

4 What is conveyancing work? (1) In this Act, ***conveyancing work*** means legal work carried out in connection with any transaction that creates, varies, transfers, conveys or extinguishes a legal or equitable interest in any real or personal property, such as, for example, any of the following transactions— (a) the sale of a freehold interest in land; (b) the creation, sale or assignment of a leasehold interest in land; (c) the grant of a mortgage or other charge. (2) Without limiting subsection (1), ***conveyancing work*** includes— (a) legal work involved in preparing any document (such as an agreement, conveyance, transfer, lease or mortgage) that is necessary to give effect to a transaction of a kind referred to in subsection (1); and (b) legal work (such as the giving of advice or the preparation, perusal, exchange or registration of documents) that is consequential or ancillary to a transaction of a kind referred to in subsection (1); and (c) any other legal work that is prescribed by the regulations as constituting conveyancing work for the purposes of this Act. S. 4(2A) inserted by No. 36/2011 s. 19(1). (2A) In this Act, ***conveyancing work*** also means legal work connected with the sale of a business, including the sale of goodwill and stock-in-trade and the transfer of any business licence. (3) However, ***conveyancing work*** does not include— (a) legal work carried out for the purpose of— (i) commencing or maintaining legal proceedings; or (ii) applying for a grant of probate or letters of administration; or (iii) establishing a corporation or varying the constitution of a corporation; or (iv) creating, varying or extinguishing a trust; or (v) preparing a testamentary instrument; or (vi) giving investment or financial advice; or (vii) investing money otherwise than as provided for in Part 5; or S. 4(3)(b) repealed by No. 36/2011 s. 19(2). (c) the provision of legal advice in relation to— (i) obtaining the consent of a person or body under an Act or regulations to the development or use of land; or (ii) an application for an order under Division 5 of Part IV of the **Transfer of Land Act 1958**; or (d) work prescribed by the regulations as not constituting conveyancing work for the purposes of this Act. (4) In this section, in relation to land, ***development*** and ***use*** have the same meanings respectively as in the **Planning and Environment Act 1987**.