Estate Agents (General, Accounts and Audit) Amendment (Penalty and Infringements) Regulations 2014 (Vic)
Estate Agents (General, Accounts and Audit) Amendment (Penalty and Infringements) Regulations 2014
S.R. No. 153/2014
TABLE OF PROVISIONS
Regulation Page
1Objective
2Authorising provision
3Principal Regulations
4Increases in penalties
5Trust account deposit forms
6Record of trust money payments by cheque
7Record of trust money payments by electronic funds transfer
8Recording transactions in the trust ledger accounts
9Transfer journal
10Register of securities
11Regulation 36 amended
12New Schedule 3 substituted
SCHEDULE 3—Infringement Offences and Infringement Penalties
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ENDNOTES
STATUTORY RULES 2014
S.R. No. 153/2014
Estate Agents Act 1980
Estate Agents (General, Accounts and Audit) Amendment (Penalty and Infringements) Regulations 2014
The Governor in Council makes the following Regulations:
Dated: 7 October 2014
Responsible Minister:
HEIDI VICTORIA
Minister for Consumer AffairsYVETTE CARISBROOKE
Clerk of the Executive Council
1Objective
The objective of these Regulations is to amend the Estate Agents (General, Accounts and Audit) Regulations 2008 to—
(a)increase certain penalties; and
(b)prescribe additional infringement offences and penalties—
for the purposes of the Estate Agents Act 1980.
2Authorising provision
These Regulations are made under section 99 of the Estate Agents Act 1980.
3Principal Regulations
In these Regulations, the Estate Agents (General, Accounts and Audit) Regulations 2008[1] are called the Principal Regulations.
4Increases in penalties
For the penalty at the foot of regulation 5(1), (2) and (4) of the Principal Regulations substitute—
"Penalty:10 penalty units.".
5Trust account deposit forms
In regulation 16(2) of the Principal Regulations, after "subregulation (1)," insert "an estate agent making".
6Record of trust money payments by cheque
(1)In regulation 18(4) of the Principal Regulations, for "A cheque must be" substitute "An estate agent who makes payment from a trust account must ensure that the cheque is".
(2)For regulation 18(5) of the Principal Regulations substitute—
"(5)An estate agent must ensure that records relating to payments made by cheque are kept in the order in which the cheques were issued.
Penalty:5 penalty units".
7Record of trust money payments by electronic funds transfer
(1)In regulation 19(3) of the Principal Regulations, for "An electronic funds transfer must be made" substitute "For the purposes of a payment under subregulation (1), an estate agent must ensure that an electronic funds transfer is made".
(2)For regulation 19(4) of the Principal Regulations substitute—
"(4)An estate agent must ensure that records relating to payments by electronic funds transfer are kept in the order in which the transfers were made.
Penalty:5 penalty units.".
8Recording transactions in the trust ledger accounts
(1)In regulation 23(3) of the Principal Regulations, for "The following particulars must be recorded" substitute "An estate agent must ensure that the following particulars are recorded".
(2)In regulation 23(4) of the Principal Regulations, for "The following particulars must be recorded" substitute "An estate agent must ensure that the following particulars are recorded".
(3)In regulation 23(7) of the Principal Regulations, for "Transactions relating to trust money must be" substitute "An estate agent must ensure that transactions relating to trust money are".
9Transfer journal
For regulation 24(4) of the Principal Regulations substitute—
"(4)An estate agent must ensure that journal pages or entries are consecutively numbered.
Penalty:5 penalty units.".
10Register of securities
In regulation 26(2) of the Principal Regulations, for "The register must show" substitute "An estate agent must ensure that a register kept for the purposes of subregulation (1) shows".
11Regulation 36 amended
In Part 5 of the Principal Regulations, in regulation 36, for "36" substitute "37".
12New Schedule 3 substituted
For Schedule 3 to the Principal Regulations substitute—
"SCHEDULE 3
Regulation 37
INFRINGEMENT OFFENCES AND INFRINGEMENT PENALTIES
| Column 1 | Column 2 | Column 3 |
| Item No. | Infringement notice offence | Prescribed infringement penalty for offence |
| 1 | section 16(7) | 6·25 penalty units |
| 2 | section 21B(2) | 2·5 penalty units |
| 3 | section 29A(1) | 6·25 penalty units |
| 4 | section 30A(1) | 6·25 penalty units |
| 5 | section 41(1) | 6·25 penalty units |
| 6 | section 41(2) | 2·5 penalty units |
| 7 | section 42(1) | 6·25 penalty units |
| 8 | section 43(1) | 6·25 penalty units |
| 9 | section 47(2) | 5 penalty units |
| 10 | section 47(2A) | 5 penalty units |
| 11 | section 47A(1) | 6·25 penalty units |
| 12 | section 47D(3) | 12 penalty units |
| 13 | section 48(2) | 12 penalty units |
| 14 | section 48A(2) | 12 penalty units |
| 15 | section 49A(2) | 12 penalty units |
| 16 | section 59(7) | 10 penalty units |
| 17 | section 63(3) | 5 penalty units |
| 18 | section 63(3B) | 5 penalty units |
| 19 | section 63(5)(a) | 6·25 penalty units |
| 20 | section 63(5)(b) | 5 penalty units |
| 21 | section 64(1) | 6·25 penalty units |
| 22 | section 64(1A) | 6·25 penalty units |
| 23 | section 64(2A) | 12 penalty units |
| 24 | section 64(3) | 3 penalty units |
| 25 | section 64(9) | 6·25 penalty units |
| 26 | section 64(13) | 6·25 penalty units |
| 27 | section 64B(1)(a) | 6·25 penalty units |
| 28 | section 64B(1)(b) | 6·25 penalty units |
| 29 | section 69(1B) | 6·25 penalty units |
| 30 | section 70B | 6·25 penalty units |
| 31 | section 98A(1) | 12 penalty units |
| 32 | regulation 5(1) | 2·5 penalty units |
| 33 | regulation 5(2) | 2·5 penalty units |
| 34 | regulation 5(4) | 2·5 penalty units |
| 35 | regulation 6 | 1·25 penalty units |
| 36 | regulation 10 | 5 penalty units |
| 37 | regulation 11(2) | 1·25 penalty units |
| 38 | regulation 12(1) | 1·25 penalty units |
| 39 | regulation 13(1) | 1·25 penalty units |
| 40 | regulation 13(2) | 2·5 penalty units |
| 41 | regulation 13(3) | 2·5 penalty units |
| 42 | regulation 13(4) | 1·25 penalty units |
| 43 | regulation 14(8) | 1·25 penalty units |
| Column 1 | Column 2 | Column 3 |
| Item No. | Infringement notice offence | Prescribed infringement penalty for offence |
| 44 | regulation 15(8) | 1·25 penalty units |
| 45 | regulation 16(2) | 2·5 penalty units |
| 46 | regulation 16(3) | 2·5 penalty units |
| 47 | regulation 17(1) | 1·25 penalty units |
| 48 | regulation 18(1) | 1·25 penalty units |
| 49 | regulation 18(2) | 2·5 penalty units |
| 50 | regulation 18(4) | 2·5 penalty units |
| 51 | regulation 18(5) | 1·25 penalty units |
| 52 | regulation 19(1) | 2·5 penalty units |
| 53 | regulation 19(3) | 2·5 penalty units |
| 54 | regulation 19(4) | 1·25 penalty units |
| 55 | regulation 20 | 1·25 penalty units |
| 56 | regulation 21(1) | 4 penalty units |
| 57 | regulation 22(1) | 4 penalty units |
| 58 | regulation 22(2) | 2·5 penalty units |
| 59 | regulation 23(1) | 1·25 penalty units |
| 60 | regulation 23(3) | 2·5 penalty units |
| 61 | regulation 23(4) | 2·5 penalty units |
| 62 | regulation 23(5) | 2·5 penalty units |
| 63 | regulation 23(6) | 2·5 penalty units |
| 64 | regulation 23(7) | 1·25 penalty units |
| 65 | regulation 23(8) | 2·5 penalty units |
| 66 | regulation 24(2) | 2·5 penalty units |
| 67 | regulation 24(4) | 1·25 penalty units |
| 68 | regulation 25(1) | 4 penalty units |
| 69 | regulation 26(1) | 2·5 penalty units |
| 70 | regulation 26(2) | 1·25 penalty units |
| Column 1 | Column 2 | Column 3 |
| Item No. | Infringement notice offence | Prescribed infringement penalty for offence |
| 71 | regulation 29(2) | 4 penalty units |
| 72 | regulation 29(3) | 1·25 penalty units |
| 73 | regulation 29(5) | 2·5 penalty units |
| 74 | regulation 30(1) | 4 penalty units |
".
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ENDNOTES
[1] Reg. 3: S.R. No. 39/2008 as amended by S.R. Nos 32/2011 and 100/2011.
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