Estate Agents (Fees) (Interim) Regulations 2007

i Estate Agents (Fees) (Interim) Regulations 2007 S.R. No. 7/2007 TABLE OF PROVISIONS Regulation Page 1 Objective 1 2 Authorising provision 1 3 Commencement 1 4 Definition 1 5 Fees for estate agent's licence 2 6 Extension of time fee 2 7 Late payment or lodgement fee 2 8 Fees applying to a branch manager approval 2 9 Fees for rural branch manager's licence 3 10 Fee for application under section 55(14) of the Act 3 11 Duplicate licences 3 12 Inspection of register and other records 3 13 Copy of, or extract from, register and other records 3 14 Registrar's certificate of register contents 4 15 Expiry 4 ═══════════════ ENDNOTES 5 -- 1 of 6 -- 1 STATUTORY RULES 2007 S.R. No. 7/2007 Estate Agents Act 1980 Estate Agents (Fees) (Interim) Regulations 2007 The Governor in Council makes the following Regulations: Dated: 27 February 2007 Responsible Minister: DANIEL ANDREWS Minister for Consumer Affairs RUTH LEACH Clerk of the Executive Council 1 Objective The objective of these Regulations is to prescribe fees for an interim period 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. 3 Commencement These Regulations come into operation on 27 February 2007 1 . 4 Definition In these Regulations, the Act means the Estate Agents Act 1980. -- 2 of 6 -- S.R. No. 7/2007 Estate Agents (Fees) (Interim) Regulations 2007 2 5 Fees for estate agent's licence (1) For the purpose of section 17(1A) of the Act, the prescribed licence fee for a new licence is— (a) in the case of an estate agent which is a corporation, 47⋅5 fee units; and (b) in the case of an estate agent other than a corporation, 25 fee units. (2) For the purpose of section 23(1) of the Act, the prescribed annual licence fee is— (a) in the case of an estate agent which is a corporation, 27⋅5 fee units; and (b) in the case of an estate agent other than a corporation, 12⋅5 fee units. 6 Extension of time fee For the purpose of section 24(1) of the Act, the prescribed fee is 5 fee units. 7 Late payment or lodgement fee For the purpose of section 24A(1) of the Act, the prescribed late payment or lodgement fee is 10 fee units. 8 Fees applying to a branch manager approval For the purpose of section 30(5) of the Act— (a) the prescribed annual approval fee is 12⋅5 fee units; and (b) the prescribed fee for an extension of time is 5 fee units; and (c) the prescribed fee for late payment or lodgement is 10 fee units. r. 5 -- 3 of 6 -- S.R. No. 7/2007 Estate Agents (Fees) (Interim) Regulations 2007 3 9 Fees for rural branch manager's licence (1) For the purpose of section 30AB(3)(b) of the Act, the prescribed fee for an application for a rural manager's licence is 25 fee units. (2) For the purpose of section 30AB(4) of the Act— (a) the prescribed annual licence fee is 12⋅5 fee units; and (b) the prescribed fee for an extension of time is 5 fee units; and (c) the prescribed fee for late payment or lodgement is 10 fee units. 10 Fee for application under section 55(14) of the Act The prescribed fee payable for an application to the Director under section 55(14) of the Act for permission to make a purchase in accordance with that section is 10 fee units. 11 Duplicate licences For the purpose of section 24D of the Act, the prescribed fee payable for a duplicate licence is 0⋅74 fee units. 12 Inspection of register and other records (1) For the purposes of section 33(5) of the Act, the prescribed fee for inspection of the register is 0⋅47 fee units. (2) The prescribed fee payable for search or inspection of records kept by the Registrar other than the register is 0⋅47 fee units. 13 Copy of, or extract from, register and other records (1) For the purposes of section 33(5) of the Act, the prescribed fee for a copy of, or an extract from, the register is 0⋅28 fee units. r. 9 -- 4 of 6 -- S.R. No. 7/2007 Estate Agents (Fees) (Interim) Regulations 2007 4 (2) The prescribed fee payable for a copy of, or an extract from records kept by the Registrar other than the register is 0⋅28 fee units. 14 Registrar's certificate of register contents The prescribed fee payable for the issue of a certificate signed by the Registrar certifying as to any matter relating to the contents of the register is 0⋅28 fee units. 15 Expiry These Regulations expire on 27 August 2007. ═══════════════ r. 14 -- 5 of 6 -- S.R. No. 7/2007 Estate Agents (Fees) (Interim) Regulations 2007 5 ENDNOTES 1 Reg. 3: The Estate Agents (Fees) Regulations 1996 (S.R. No. 13/1996) (as extended by S.R. No. 157/2005) were revoked by virtue of section 5 of the Subordinate Legislation Act 1994 on 26 February 2007. —— Fee Units These Regulations provide for fees by reference to fee units within the meaning of the Monetary Units Act 2004. The amount of the fee is to be calculated, in accordance with section 7 of that Act, by multiplying the number of fee units applicable by the value of a fee unit. The value of a fee unit for the financial year commencing 1 July 2006 is $10.75. The amount of the calculated fee may be rounded to the nearest 10 cents. The value of a fee unit for future financial years is to be fixed by the Treasurer under section 5 of the Monetary Units Act 2004. The value of a fee unit for a financial year must be published in the Government Gazette and a Victorian newspaper before 1 June in the preceding financial year. Endnotes -- 6 of 6 --