26Sharing of receipts with unqualified persons

#### 26 Sharing of receipts with unqualified persons 26 Sharing of receipts with unqualified persons > > (1) A licensee must not share the receipts of a conveyancing business with another person unless— > > > > > (a) the other person is a licensee, or > > > > > (b) the sharing of those receipts with that other person is approved by the Secretary and does not contravene the provisions of any regulation under this section. > > > > Maximum penalty—200 penalty units in the case of a corporation or 100 penalty units in any other case. > > > (2) An approval may not be given under this section unless the Secretary is satisfied that the sharing of the receipts of the conveyancing business in accordance with the approval— > > > > > (a) will not result in a person other than a licensee gaining control of the business, and > > > > > (b) will not adversely affect the independent conduct of the licensee’s business or give rise to a conflict between the interests of the licensee and the interests of any of the licensee’s clients. > > > (3) This section does not prevent a party to a transaction from recovering from any other person the costs of conveyancing work carried out by a licensee who is employed by the party under a contract of service. > > > (4) The regulations may make provision for or with respect to restricting the circumstances in which a licensee may share the receipts of a conveyancing business with another person who is not a licensee.