Conveyancers Regulations 2025

These regulations may be cited as the

Conveyancers

Regulations 2025.

These regulations come into operation on the day on which they are made.

In these regulations—

Act means the Conveyancers Act 1994;

approved scheme means the professional indemnity insurance scheme approved by the Commissioner for the purposes of these regulations;

BSB number (Bank State Branch number) means the number assigned to identify a particular branch of a particular

ADI;

professional indemnity insurance means insurance against civil liability arising in connection with carrying on business as a conveyancer (whether the liability arises from an act or omission on the part of the insured conveyancer or some other person).

The Commissioner may waive, reduce or refund a fee (or part of a fee) prescribed for the purposes of the Act if satisfied that it is appropriate to do so in a particular case.

For the purposes of section 8(2) of the Act, a registered conveyancer must pay the fee and lodge the return on or before—

the last day of the month in each year nominated in writing to the conveyancer by the Commissioner; or

if the Commissioner does not nominate a month—the last day of the month in each year that is the same month as the month in which the conveyancer's registration was granted.

A conveyancer must, on or before the date for lodging an annual return, provide the Commissioner with evidence to the Commissioner's satisfaction that the conveyancer—

is, or will be, insured to the extent required by these regulations on that date; or

will not, for the 12 month period following that date, be required under these regulations to be insured. Maximum penalty: Maximum penalty: $2 500.

If there is any change in—

the residential address of a registered conveyancer;

or

the postal or email address of a registered conveyancer provided to the Commissioner for purposes connected with their registration;

or

the business or trading name under which a registered conveyancer carries on business; or

the address at which a registered conveyancer carries on business;

or

the address of the registered corporate office of a registered conveyancer that is a company, the conveyancer must, within 14 days after that change, give written notice to the Commissioner of the new address or name (as the case may be). Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

A registered conveyancer who is not required to be insured under the approved scheme must, before a change occurs in their circumstances that would require the conveyancer to be so insured during the course of the

12 month period following the date for lodging an annual return, provide the Commissioner with evidence to the Commissioner's satisfaction that the conveyancer will be insured to the extent required by these regulations for the balance of that 12 month period. Maximum penalty: Maximum penalty: $2 500.

A registered conveyancer must, within 14 days after ceasing to carry on business as a conveyancer, give written notice to the Commissioner of that fact. Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

A registered conveyancer must, within 14 days after entering into partnership to carry on business as a conveyancer or ceasing to be in such a partnership, give written notice to the Commissioner of that fact, together with the names of the members of the new or former partnership. Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

If a person is appointed as a director of a company that is a registered conveyancer, the conveyancer must, within 14 days after the appointment—

notify the Commissioner in the manner and form approved by the

Commissioner of the appointment of the new director; and

provide the Commissioner with any information required by the

Commissioner for the purposes of determining whether the new director meets the requirements for directors under section 7(2) of the Act. Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

If registration of a person as a conveyancer is surrendered, suspended or cancelled, the person must, at the direction of the Tribunal or the Commissioner, return the certificate of registration to the

Commissioner. Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

If, on an application under section 6 of the Act, a certificate of registration as a conveyancer has been issued to a person but the fee payable in respect of the application has not been paid (whether because of the dishonouring of a cheque or otherwise), the person must, at the direction of the Commissioner, return the certificate of registration to the

Commissioner. Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

The Commissioner may issue to a registered conveyancer a certificate of registration in replacement of a current certificate of registration if satisfied that—

the current certificate has been lost, destroyed or damaged;

or

any particulars appearing on the current certificate are incorrect.

If the Commissioner issues to a registered conveyancer a replacement certificate of registration, the conveyancer must, at the direction of the Commissioner, return the original (or previous duplicate) certificate of registration to the Commissioner. Maximum penalty: Maximum penalty: $2 500. Expiation fee: $160.

For the purposes of section 9(1) of the Act, the

Commissioner may approve a scheme to provide professional indemnity insurance, to an extent provided by the scheme, for the benefit of conveyancers.

The approved scheme—

must provide for insurance indemnity under a master policy negotiated with the insurer or insurers participating in the scheme;

and

must provide for all persons carrying on business as a conveyancer, or a class or classes of conveyancers, as specified in the scheme, to obtain coverage under the scheme; and

may provide for the determination and settlement of claims against conveyancers covered by the scheme; and

may impose on conveyancers covered by the scheme obligations to pay premiums, levies, fees or other charges (which may vary according to factors stipulated in the scheme); and

may impose, or provide for the imposition of, penalties, sanctions and remedies against conveyancers who fail to comply with their obligations under the scheme; and

may make any other provision reasonably necessary for, or incidental to, the administration or enforcement of the scheme.

The approved scheme (as amended from time to time with the approval of the Commissioner) is binding on—

the conveyancers covered by the scheme; and

the insurer or insurers and other persons to whom the scheme applies.

The Commissioner must publish a copy of the approved scheme (including any amendments to the scheme approved by the Commissioner) available on a website determined by the Commissioner.

In this regulation—

conveyancer includes a former conveyancer.

A conveyancer is exempt from the operation of Part 4

Division 2 of the Act and regulations 13(2) and 20(1)(d) in respect of the receipt and delivery of a cheque by the conveyancer if the cheque—

is a crossed cheque expressed to be payable to a person or persons not being or including the conveyancer (whether or not it is also expressed to be payable to bearer); and

is held by the conveyancer for the purpose of delivery to a person to whom the cheque is expressed to be payable (or such a person's agent), and is so delivered.

For the purposes of section 17 of the Act, interest that an

ADI is liable to pay in respect of trust money held in a trust account must be paid by the ADI to the Commissioner on—

15 January, 15 April, 15 July and

15 October in each year; or

the 15th day of each month in each year.

If a conveyancer uses a computer program to keep records under

Part 4 Division 2 of the Act, the conveyancer must ensure that—

an electronic copy of all the records is made within

24 hours of any alteration of the records; and

at least once in each month, an electronic copy of all the records is made and kept in a safe place at a location other than the premises where the computer program is operating (which, to avoid doubt, may be in a cloud storage system); and

before any information is deleted from the computer records, a hard copy of the information is made and kept by the conveyancer as part of the conveyancer's records; and

an up‑to‑date electronic copy of the computer program is made and kept in a safe place at a location other than the premises where the computer program is operating (which, to avoid doubt, may be in a cloud storage system).

Maximum penalty: Maximum penalty: $2 500.

For the purposes of section 23(2)(a) of the Act, the receipt that a conveyancer must make available to a person making a payment of trust money—

must be legibly written on a form comprised in a series of consecutively pre‑numbered duplicate receipt forms marked with the name of the conveyancer and the words "Trust Account"; and

must contain the following information:

—

in the case of a payment made by electronic transfer of funds into a conveyancer's trust account—the date on which the conveyancer makes out the receipt; or

in any other case—the date of the payment;

the name of the person making the payment;

whether the payment is by cash, cheque, bank cheque or electronic transfer of funds into the conveyancer's trust account and, if the payment is by cheque or bank cheque, the name of the drawer of the cheque;

the name of the person for whom the money is received;

brief particulars of the purpose of the payment;

the amount of the payment.

A conveyancer must make out a receipt in accordance with section 23(2) of the Act and this regulation—

in the case of a payment made by electronic transfer of funds into a conveyancer's trust account—immediately upon the conveyancer receiving official confirmation that the payment has been made (whether that is by way of receipt by the conveyancer of an ADI statement or some other way, whichever occurs sooner); or

in any other case—immediately on receipt of the payment. Maximum penalty: Maximum penalty: $2 500.

A conveyancer need not comply with subregulation (1)(a) or section 23(2)(b) of the Act if the conveyancer uses a computer program to make out the receipt and the program—

automatically produces in chronological sequence consecutively numbered receipts marked with the name of the conveyancer and the words "Trust

Account"; and

automatically makes a separate contemporaneous record of the receipt so that, at any time, a hard copy of the receipt may be produced;

and

requires input in each field of a data entry screen intended to receive information for the purposes of producing the receipt so that each receipt contains all of the information required by subregulation (1)(b).