Sharing of receipts with unqualified persons
26 Sharing of receipts with unqualified persons
A licensee must not share the receipts of a conveyancing business with another person unless—
the other person is a licensee, or
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.
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—
will not result in a person other than a licensee gaining control of the business, and
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.
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.
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.
This provision refers to the regulations (any regulation
, The regulations may make
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.