Estate Agents (Fees) Regulations 2018 (Vic)

Version No. 001

Estate Agents (Fees) Regulations 2018

S.R. No. 82/2018

Version as at

1 July 2018

TABLE OF PROVISIONS

Regulation  Page

1Objective

2Authorising provision

3Commencement

4Revocation

5Definition

6Fees for estate agent's licence

7Application for extension of time fee

8Late payment or lodgement fee

9Fees applying to a branch manager approval

10Fee applying to a person involved in Fund claim to regain licence etc. in exceptional circumstances

11Fee applying to a bankrupt person to be allowed limited right to hold licence etc.

12Fee applying to a person with criminal record to be allowed limited right to hold licence etc.

13Fees applying to a corporation to be allowed to hold licence despite disqualifying factors

14Copy of, or extract from, register

15Registrar's certificate of register contents

═════════════

Endnotes

1      General information

2      Table of Amendments

3      Amendments Not in Operation

4      Explanatory details

Version No. 001

Estate Agents (Fees) Regulations 2018

S.R. No. 82/2018

Version as at

1 July 2018

1Objective

The objective of these Regulations is to prescribe fees for the purposes of the Estate Agents Act 1980.

2Authorising provision

These Regulations are made under section 99 of the Estate Agents Act 1980.

3Commencement

These Regulations come into operation on 1 July 2018.

4Revocation

The Estate Agents (Fees) Regulations 2007[1] are revoked.

5Definition

In these Regulations—

the Actmeans the Estate Agents Act 1980.

6Fees for estate agent's licence

(1)For the purpose of section 17(1A) of the Act, the prescribed application fee for a licence is—

(a)in the case of an estate agent which is a corporation—

(i)27×79 fee units; and

(ii)18×94 fee units for each director of that corporation; and

(b)in the case of an estate agent other than a corporation, 26×11 fee units.

(2)For the purpose of section 23(1) of the Act, the prescribed annual licence fees are—

(a)for the period beginning 1 July 2018 and ending on 31 August 2018—

(i)in the case of an estate agent which is a corporation, 33⋅47 fee units; and

(ii) in the case of an estate agent other than a corporation, 15⋅21 fee units; and

(b)on and from 1 September 2018—

(i)in the case of an estate agent which is a corporation—

(A)14×52 fee units; and

(B)13×26 fee units for each director of that corporation; and

(ii)in the case of an estate agent other than a corporation, 14×52 fee units.

7Application for extension of time fee

For the purpose of section 24(1) of the Act, the prescribed application fee for an extension of time, or further extension of time, is 6×74 fee units.

8Late payment or lodgement fee

For the purpose of section 24A(1) of the Act, the prescribed late payment or lodgement fee is 6×52 fee units.

9Fees applying to a branch manager approval

For the purpose of section 30(5) of the Act—

(a)the prescribed annual approval fee is—

(i)for the period beginning 1 July 2018 and ending on 31 August 2018,

4⋅54 fee units; and

(ii)on and from 1 September 2018,

2×79 fee units; and

(b)the prescribed application fee for an extension of time, or further extension of time, is 6×74 fee units; and

(c)the prescribed fee for late payment or lodgement is 6×52 fee units.

10Fee applying to a person involved in Fund claim to regain licence etc. in exceptional circumstances

For the purpose of section 31A(2A)(d) of the Act, the prescribed application fee is 80×09 fee units.

11Fee applying to a bankrupt person to be allowed limited right to hold licence etc.

For the purpose of section 31B(2A)(d) of the Act, the prescribed application fee is 80×09 fee units.

12Fee applying to a person with criminal record to be allowed limited right to hold licence etc.

For the purpose of section 31C(2A)(d) of the Act, the prescribed application fee is 80×09 fee units.

13Fees applying to a corporation to be allowed to hold licence despite disqualifying factors

For the purpose of section 31CA(2)(d) of the Act, the application fee required is—

(a)81×40 fee units; and

(b)63×58 fee units for each director of that corporation.

14Copy of, or extract from, register

For the purposes of section 33(5) of the Act, the prescribed fee for a copy of, or an extract from, the register is 6×04 fee units.

15Registrar'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 7×56 fee units.

═════════════

Endnotes

1   General information

See for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.

The Estate Agents (Fees) Regulations 2018, S.R. No. 82/2018 were made on 26 June 2018 by the Governor in Council under section 99 of the Estate Agents Act 1980, No. 9428/1980 and came into operation on 1 July 2018: regulation 3.

The Estate Agents (Fees) Regulations 2018 will sunset 10 years after the day of making on 26 June 2028 (see section 5 of the Subordinate Legislation Act 1994).

INTERPRETATION OF LEGISLATION ACT 1984 (ILA)

Style changes

Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.

References to ILA s. 39B

Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided regulation, rule or clause of a Schedule is amended by the insertion of one or more subregulations, subrules or subclauses the original regulation, rule or clause becomes subregulation, subrule or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original regulation, rule or clause.

Interpretation

As from 1 January 2001, amendments to section 36 of the ILA have the following effects:

•     Headings

All headings included in a Statutory Rule which is made on or after
1 January 2001 form part of that Statutory Rule.  Any heading inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.
This includes headings to Parts, Divisions or Subdivisions in a Schedule; Orders; Parts into which an Order is divided; clauses; regulations; rules; items; tables; columns; examples; diagrams; notes or forms. 
See section 36(1A)(2A)(2B).

•     Examples, diagrams or notes

All examples, diagrams or notes included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule.  Any examples, diagrams or notes inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, form part of that Statutory Rule.  See section 36(3A).

•     Punctuation

All punctuation included in a Statutory Rule which is made on or after
1 January 2001 forms part of that Statutory Rule.  Any punctuation inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.
See section 36(3B).

•     Provision numbers

All provision numbers included in a Statutory Rule form part of that Statutory Rule, whether inserted in the Statutory Rule before, on or after
1 January 2001.  Provision numbers include regulation numbers, rule numbers, subregulation numbers, subrule numbers, paragraphs and subparagraphs.  See section 36(3C).

•     Location of "legislative items"

A "legislative item" is a penalty, an example or a note.  As from 13 October 2004, a legislative item relating to a provision of a Statutory Rule is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision.  For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision.  See section 36B.

•     Other material

Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of a Statutory Rule.  See section 36(3)(3D)(3E).

2   Table of Amendments

There are no amendments made to the Estate Agents (Fees) Regulations 2018 by statutory rules, subordinate instruments and Acts.

3   Amendments Not in Operation

There are no amendments which were Not in Operation at the date of this publication.

4   Explanatory details

[1] Reg. 4: S.R. No. 79/2007 as extended in operation by S.R. No. 70/2017.

——

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 2018 is $14.45. 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.