Estate Agents (General, Accounts and Audit) Amendment (Penalty and Infringements) Regulations 2014
Authorised by the Chief Parliamentary Counsel
Authorised Version
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Estate Agents (General, Accounts and Audit)
Amendment (Penalty and Infringements)
Regulations 2014
S.R. No. 153/2014
TABLE OF PROVISIONS
Regulation Page
1 Objective 1
2 Authorising provision 1
3 Principal Regulations 2
4 Increases in penalties 2
5 Trust account deposit forms 2
6 Record of trust money payments by cheque 2
7 Record of trust money payments by electronic funds transfer 2
8 Recording transactions in the trust ledger accounts 3
9 Transfer journal 3
10 Register of securities 3
11 Regulation 36 amended 4
12 New Schedule 3 substituted 4
SCHEDULE 3—Infringement Offences and Infringement
Penalties 4
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ENDNOTES 8
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Authorised Version
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STATUTORY RULES 2014
S.R. No. 153/2014
Estate Agents Act 1980
Estate Agents (General, Accounts and Audit)
Amendment (Penalty and Infringements)
Regulations 2014
The Governor in Council makes the following Regulations:
Dated: 7 October 2014
Responsible Minister:
HEIDI VICTORIA
Minister for Consumer Affairs
YVETTE CARISBROOKE
Clerk of the Executive Council
1 Objective
The objective of these Regulations is to amend the
Estate Agents (General, Accounts and Audit)
Regulations 2008 to—
(a) increase certain penalties; and
(b) prescribe additional infringement offences
and penalties—
for the purposes of the Estate Agents Act 1980.
2 Authorising provision
These Regulations are made under section 99 of
the Estate Agents Act 1980.
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3 Principal Regulations
In these Regulations, the Estate Agents (General,
Accounts and Audit) Regulations 20081 are called
the Principal Regulations.
4 Increases in penalties
For the penalty at the foot of regulation 5(1), (2)
and (4) of the Principal Regulations substitute—
"Penalty: 10 penalty units.".
5 Trust account deposit forms
In regulation 16(2) of the Principal Regulations,
after "subregulation (1)," insert "an estate agent
making".
6 Record of trust money payments by cheque
(1) In regulation 18(4) of the Principal Regulations,
for "A cheque must be" substitute "An estate
agent who makes payment from a trust account
must ensure that the cheque is".
(2) For regulation 18(5) of the Principal Regulations
substitute—
"(5) An estate agent must ensure that records
relating to payments made by cheque are
kept in the order in which the cheques were
issued.
Penalty: 5 penalty units".
7 Record of trust money payments by electronic funds
transfer
(1) In regulation 19(3) of the Principal Regulations,
for "An electronic funds transfer must be made"
substitute "For the purposes of a payment under
subregulation (1), an estate agent must ensure that
an electronic funds transfer is made".
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(2) For regulation 19(4) of the Principal Regulations
substitute—
"(4) An estate agent must ensure that records
relating to payments by electronic funds
transfer are kept in the order in which the
transfers were made.
Penalty: 5 penalty units.".
8 Recording transactions in the trust ledger accounts
(1) In regulation 23(3) of the Principal Regulations,
for "The following particulars must be recorded"
substitute "An estate agent must ensure that the
following particulars are recorded".
(2) In regulation 23(4) of the Principal Regulations,
for "The following particulars must be recorded"
substitute "An estate agent must ensure that the
following particulars are recorded".
(3) In regulation 23(7) of the Principal Regulations,
for "Transactions relating to trust money must be"
substitute "An estate agent must ensure that
transactions relating to trust money are".
9 Transfer journal
For regulation 24(4) of the Principal Regulations
substitute—
"(4) An estate agent must ensure that journal
pages or entries are consecutively numbered.
Penalty: 5 penalty units.".
10 Register of securities
In regulation 26(2) of the Principal Regulations,
for "The register must show" substitute
"An estate agent must ensure that a register kept
for the purposes of subregulation (1) shows".
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11 Regulation 36 amended
In Part 5 of the Principal Regulations, in
regulation 36, for "36" substitute "37".
12 New Schedule 3 substituted
For Schedule 3 to the Principal Regulations
substitute—
"SCHEDULE 3
Regulation 37
INFRINGEMENT OFFENCES AND INFRINGEMENT
PENALTIES
Column 1 Column 2 Column 3
Item No. Infringement notice
offence
Prescribed infringement penalty
for offence
1 section 16(7) 6·25 penalty units
2 section 21B(2) 2·5 penalty units
3 section 29A(1) 6·25 penalty units
4 section 30A(1) 6·25 penalty units
5 section 41(1) 6·25 penalty units
6 section 41(2) 2·5 penalty units
7 section 42(1) 6·25 penalty units
8 section 43(1) 6·25 penalty units
9 section 47(2) 5 penalty units
10 section 47(2A) 5 penalty units
11 section 47A(1) 6·25 penalty units
12 section 47D(3) 12 penalty units
13 section 48(2) 12 penalty units
14 section 48A(2) 12 penalty units
15 section 49A(2) 12 penalty units
16 section 59(7) 10 penalty units
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Column 1 Column 2 Column 3
Item No. Infringement notice
offence
Prescribed infringement penalty
for offence
17 section 63(3) 5 penalty units
18 section 63(3B) 5 penalty units
19 section 63(5)(a) 6·25 penalty units
20 section 63(5)(b) 5 penalty units
21 section 64(1) 6·25 penalty units
22 section 64(1A) 6·25 penalty units
23 section 64(2A) 12 penalty units
24 section 64(3) 3 penalty units
25 section 64(9) 6·25 penalty units
26 section 64(13) 6·25 penalty units
27 section 64B(1)(a) 6·25 penalty units
28 section 64B(1)(b) 6·25 penalty units
29 section 69(1B) 6·25 penalty units
30 section 70B 6·25 penalty units
31 section 98A(1) 12 penalty units
32 regulation 5(1) 2·5 penalty units
33 regulation 5(2) 2·5 penalty units
34 regulation 5(4) 2·5 penalty units
35 regulation 6 1·25 penalty units
36 regulation 10 5 penalty units
37 regulation 11(2) 1·25 penalty units
38 regulation 12(1) 1·25 penalty units
39 regulation 13(1) 1·25 penalty units
40 regulation 13(2) 2·5 penalty units
41 regulation 13(3) 2·5 penalty units
42 regulation 13(4) 1·25 penalty units
43 regulation 14(8) 1·25 penalty units
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Column 1 Column 2 Column 3
Item No. Infringement notice
offence
Prescribed infringement penalty
for offence
44 regulation 15(8) 1·25 penalty units
45 regulation 16(2) 2·5 penalty units
46 regulation 16(3) 2·5 penalty units
47 regulation 17(1) 1·25 penalty units
48 regulation 18(1) 1·25 penalty units
49 regulation 18(2) 2·5 penalty units
50 regulation 18(4) 2·5 penalty units
51 regulation 18(5) 1·25 penalty units
52 regulation 19(1) 2·5 penalty units
53 regulation 19(3) 2·5 penalty units
54 regulation 19(4) 1·25 penalty units
55 regulation 20 1·25 penalty units
56 regulation 21(1) 4 penalty units
57 regulation 22(1) 4 penalty units
58 regulation 22(2) 2·5 penalty units
59 regulation 23(1) 1·25 penalty units
60 regulation 23(3) 2·5 penalty units
61 regulation 23(4) 2·5 penalty units
62 regulation 23(5) 2·5 penalty units
63 regulation 23(6) 2·5 penalty units
64 regulation 23(7) 1·25 penalty units
65 regulation 23(8) 2·5 penalty units
66 regulation 24(2) 2·5 penalty units
67 regulation 24(4) 1·25 penalty units
68 regulation 25(1) 4 penalty units
69 regulation 26(1) 2·5 penalty units
70 regulation 26(2) 1·25 penalty units
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Column 1 Column 2 Column 3
Item No. Infringement notice
offence
Prescribed infringement penalty
for offence
71 regulation 29(2) 4 penalty units
72 regulation 29(3) 1·25 penalty units
73 regulation 29(5) 2·5 penalty units
74 regulation 30(1) 4 penalty units
".
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ENDNOTES
1 Reg. 3: S.R. No. 39/2008 as amended by S.R. Nos 32/2011 and 100/2011.
Endnotes
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