Conveyancers Act 2006

Subject to this Part, a person who suffers pecuniary loss by reason of a defalcation committed by a licensee, or an officer or employee of a licensee, in the course of carrying on a conveyancing business is entitled to claim compensation from the Fund.

Subject to this Part, the amount that a claimant is entitled to claim as compensation from the Fund is the amount of the actual pecuniary loss suffered by the claimant (including the reasonable costs of, and disbursements incidental to, the making and proof of the claim) less the amount or value of all money or other benefits received or receivable by the claimant from a source other than the Fund in reduction of the loss.

In addition to any compensation that is payable under this Part, interest is payable out of the Fund on the amount of the compensation, less any amount attributable to costs and disbursements, at the prescribed rate calculated from and including the day on which the pecuniary loss was suffered until the day on which the claim is satisfied.

In addition to any compensation payable under this section, there is payable out of the Fund to any claimant entitled to compensation the reasonable costs of, and disbursements incidental to, the making and proof of the claim.