Part 3Dual representation

Part 3—Dual representation 29—Circumstances in which conveyancer may act for both parties (1) For the purposes of section 30 of the Act, a conveyancer is authorised to act for both the transferor and transferee, or the grantor and grantee, of property or rights under a transaction if— (a) the transferor and transferee or the grantor and grantee (in this Part referred to as both parties)— (i) are related to one another by blood, adoption or marriage; or (ii) are domestic partners one of the other; or (iii) are bodies corporate that are related to each other for the purposes of the Corporations Act 2001 of the Commonwealth; or (iv) are a proprietary company and a person who is a shareholder or director of that company; or (v) are registered as the proprietors of the relevant land as tenants in common or joint tenants with one another; or (vi) carry on business in partnership with each other; or (b) the conveyancer has obtained from both parties a written acknowledgment, or general authority, in the form set out in Schedule 8. (2) However, a conveyancer is not authorised to act for both parties to a transaction if the conveyancer is subject to a conflict of interest in relation to the transaction. 30—Conveyancer must cease to act if conflict of interest arises (1) If, in the course of acting for both parties to a transaction, the conveyancer becomes subject to a conflict of interest in relation to the transaction, the conveyancer must notify both parties in writing and cease to act in the matter. Maximum penalty: $5 000. (2) However, if both parties agree in writing that the conveyancer may continue to act for 1 of them, the conveyancer may continue to act for that party. 31—Meaning of conflict of interest For the purposes of this Part, a conveyancer is subject to a conflict of interest in relation to a transaction if— (a) the duties owed by the conveyancer to 1 party to the transaction conflict with the duties owed by the conveyancer to the other party to the transaction (for example, if the conveyancer is obliged, in fulfilling their duty to 1 party, to withhold information or advice from the other party that, by reason of the conveyancer's duty to that other party, they should not withhold); or (b) the conveyancer has a personal or pecuniary interest in the transaction arising otherwise than from the conveyancer's services as a conveyancer in respect of the transaction.