Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012

Authorised by the Chief Parliamentary Counsel Authorised Version i Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012 S.R. No. 73/2012 TABLE OF PROVISIONS Regulation Page 1 Objective 1 2 Authorising provision 1 3 Commencement 1 4 Principal Regulations 2 5 Prescribed qualifications for conveyancers 2 ═══════════════ ENDNOTES 4 -- 1 of 6 -- Authorised by the Chief Parliamentary Counsel Authorised Version 1 STATUTORY RULES 2012 S.R. No. 73/2012 Conveyancers Act 2006 Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012 The Governor in Council makes the following Regulations: Dated: 28 June 2012 Responsible Minister: MICHAEL O'BRIEN Minister for Consumer Affairs YVETTE CARISBROOKE Acting Clerk of the Executive Council 1 Objective The objective of these Regulations is to amend the Conveyancers (Qualifications, Experience and Fees) Regulations 2008 to prescribe new competency qualifications for the purposes of section 12 of the Conveyancers Act 2006, including qualifications to enable conveyancers to carry out legal work connected with the sale of a business. 2 Authorising provision These Regulations are made under section 188 of the Conveyancers Act 2006. 3 Commencement These Regulations come into operation on 1 July 2012. -- 2 of 6 -- S.R. No. 73/2012 Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012 2 Authorised by the Chief Parliamentary Counsel 4 Principal Regulations In these Regulations, the Conveyancers (Qualifications, Experience and Fees) Regulations 20081 are called the Principal Regulations. 5 Prescribed qualifications for conveyancers (1) Before regulation 5(a) of the Principal Regulations insert— "(aa) successful completion of each of the following units of competency set out in the FNS10 Financial Services Training Package published on the website Training.gov.au maintained by the Commonwealth as in force from time to time— (i) FNSCNV501A Take instructions in relation to a transaction; (ii) FNSCNV502A Read and interpret a legal document and provide advice; (iii) FNSCNV503A Analyse and interpret legal requirements for a transaction; (iv) FNSCNV504A Prepare legal documents; (v) FNSCNV505A Finalise the conveyancing transaction; (vi) FNSCNV506A Establish and manage a trust account; (vii) FNSCNV601A Identify and conduct searches; (viii) FNSORG601A Negotiate to achieve goals and manage disputes;". r. 4 -- 3 of 6 -- S.R. No. 73/2012 Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012 3 Authorised by the Chief Parliamentary Counsel (2) In regulation 5(a) of the Principal Regulations, for "demonstrated competency in each of the following subject matters" substitute "successful completion, by 31 December 2012, of each of the following units of competency". (3) In regulation 5(b) of the Principal Regulations, for "paragraph (a)(iii)" substitute "paragraph (aa)(vi) or (a)(iii)". (4) In regulation 5(d) of the Principal Regulations, for "paragraph (a)(iii)" substitute "paragraph (aa)(vi) or (a)(iii)". (5) At the foot of regulation 5 of the Principal Regulations, insert— "Note Conditions may be imposed on a licence to carry out a conveyancing business under section 23 of the Act, including by reason of the licensee's competency qualifications and work experience, and conditions may restrict the conveyancing transactions carried out in the course of a licensee's business.". ═══════════════ r. 5 -- 4 of 6 -- S.R. No. 73/2012 Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012 4 Authorised by the Chief Parliamentary Counsel ENDNOTES 1 Reg. 4: S.R. No. 48/2008. —— Table of Applied, Adopted or Incorporated Matter The following table of applied, adopted or incorporated matter is included in accordance with the requirements of regulation 5 of the Subordinate Legislation Regulations 2004. Statutory rule provision Title of applied, adopted or incorporated document Matter in applied, adopted or incorporated document Regulation 5(1) Financial Services Training Package FNS10 Version 3.0 published by the Commonwealth and Innovation and Business Skills Australia Ltd and endorsed by the National Quality Council on 24 February 2012 FNSCNV501A Take instructions in relation to a transaction FNSCNV502A Read and interpret a legal document and provide advice FNSCNV503A Analyse and interpret legal requirements for a transaction FNSCNV504A Prepare legal documents FNSCNV505A Finalise the conveyancing transaction Endnotes -- 5 of 6 -- S.R. No. 73/2012 Conveyancers (Qualifications, Experience and Fees) Amendment Regulations 2012 5 Authorised by the Chief Parliamentary Counsel Statutory rule provision Title of applied, adopted or incorporated document Matter in applied, adopted or incorporated document FNSCNV506A Establish and manage a trust account FNSCNV601A Identify and conduct searches FNSORG601A Negotiate to achieve goals and manage disputes -- 6 of 6 --