Estate Agents (General, Accounts and Audit) Amendment Regulations 2018 (Vic)

Estate Agents (General, Accounts and Audit) Amendment Regulations 2018

S.R. No. 97/2018

TABLE OF PROVISIONS

Regulation  Page

1Objective

2Authorising provision

3Commencement

4Principal Regulations

5Trust account cash payments journal

6Amendment to Form 2 in Schedule 1

7Schedule 2 substituted

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Endnotes

STATUTORY RULES 2018

S.R. No. 97/2018

Estate Agents Act 1980

Estate Agents (General, Accounts and Audit) Amendment Regulations 2018

The Lieutenant-Governor as the Governor's deputy, with the advice of the Executive Council, makes the following Regulations:

Dated: 10 July 2018

Responsible Minister:

MARLENE KAIROUZ
Minister for Consumer Affairs, Gaming and Liquor Regulation

ANDREW ROBINSON

Clerk of the Executive Council

1Objective

The objective of these Regulations is to amend the Estate Agents (General, Accounts and Audit) Regulations 2018—

(a)to clarify the particulars that must be recorded in trust account cash payments journals; and

(b)to clarify financial information provided for the purposes of section 52 of the Estate Agents Act 1980; and

(c)to insert additional infringement offences and infringement penalties.

2Authorising provision

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

3Commencement

These Regulations come into operation on 11 July 2018.

4Principal Regulations

In these Regulations, the Estate Agents (General, Accounts and Audit) Regulations 2018[1] are called the Principal Regulations.

5Trust account cash payments journal

In regulation 23(2)(a) of the Principal Regulations, for "regulation 18(1)" substitute "regulation 19(2)".

6Amendment to Form 2 in Schedule 1

In Section D of Form 2 in Schedule 1 to the Principal Regulations—

(a)after "PERSONAL EXPENSES and outgoings of the present vendor" insert "(these expenses should not be listed in Item 4)";

(b)for "(Item 5 less Item 4 plus Item 6)" substitute "(Item 5 less Item 6)".

7Schedule 2 substituted

For Schedule 2 to the Principal Regulations substitute—

"Schedule 2—Infringement offences and infringement penalties

Regulation 38

INFRINGEMENT OFFENCES AND INFRINGEMENT PENALTIES

Column 1 Item No.	Column 2 Infringement notice offence	Column 3 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)	12 penalty units for a natural person 60 penalty units for a body corporate
12	section 47AB	12 penalty units for a natural person 60 penalty units for a body corporate
13	section 47AE(2)	12 penalty units for a natural person 60 penalty units for a body corporate
14	section 47AF(4)	12 penalty units for a natural person 60 penalty units for a body corporate
15	section 47AF(5)	12 penalty units for a natural person 60 penalty units for a body corporate
16	section 47AF(6)	12 penalty units for a natural person 60 penalty units for a body corporate
17	section 47B	12 penalty units for a natural person 60 penalty units for a body corporate
18	section 47C(2)	12 penalty units for a natural person 60 penalty units for a body corporate
19	section 47C(2A)	12 penalty units for a natural person 60 penalty units for a body corporate
20	section 47C(2B)	12 penalty units for a natural person 60 penalty units for a body corporate
21	section 47D(4)	12 penalty units for a natural person 60 penalty units for a body corporate
22	section 48(2)	12 penalty units for a natural person 25 penalty units for a body corporate
23	section 48A(2)	12 penalty units
24	section 49A(2)	12 penalty units for a natural person 25 penalty units for a body corporate
25	section 59(1)(a)	12 penalty units for a natural person 30 penalty units for a body corporate
26	section 59(1)(b)	12 penalty units for a natural person 30 penalty units for a body corporate
27	section 59(1)(c)	12 penalty units for a natural person 30 penalty units for a body corporate
28	section 59(7)	10 penalty units for a natural person 15 penalty units for a body corporate
29	section 63(1)(a)	6·25 penalty units
30	section 63(1)(b)	6·25 penalty units
31	section 63(1)(c)	6·25 penalty units
32	section 63(1)(d)	6·25 penalty units
33	section 63(3)	5 penalty units
34	section 63(3B)	5 penalty units
35	section 63(5)(a)	6·25 penalty units
36	section 63(5)(b)	5 penalty units
37	section 64(1)	6·25 penalty units
38	section 64(1A)	6·25 penalty units
39	section 64(2A)	12 penalty units for a natural person 30 penalty units for a body corporate
40	section 64(3)	5 penalty units
41	section 64(9)	6·25 penalty units
42	section 64(13)	6·25 penalty units
43	section 64B(1)(a)	6·25 penalty units
44	section 64B(1)(b)	6·25 penalty units
45	section 69(1B)	6·25 penalty units
46	section 70B	6·25 penalty units
47	section 98A(1)	12 penalty units for a natural person 25 penalty units for a body corporate
48	regulation 6(1)	2·5 penalty units
49	regulation 6(2)	2·5 penalty units
50	regulation 6(4)	2·5 penalty units
51	regulation 7	1·25 penalty units
52	regulation 11	5 penalty units
53	regulation 12(2)	1·25 penalty units
54	regulation 13(1)	1·25 penalty units
55	regulation 14(1)	1·25 penalty units
56	regulation 14(2)	2·5 penalty units
57	regulation 14(3)	2·5 penalty units
58	regulation 14(4)	1·25 penalty units
59	regulation 15(8)	1·25 penalty units
60	regulation 16(8)	1·25 penalty units
61	regulation 17(2)	2·5 penalty units
62	regulation 17(3)	2·5 penalty units
63	regulation 18(1)	1·25 penalty units
64	regulation 19(1)	1·25 penalty units
65	regulation 19(2)	2·5 penalty units
66	regulation 19(4)	2·5 penalty units
67	regulation 19(5)	1·25 penalty units
68	regulation 20(1)	2·5 penalty units
69	regulation 20(3)	2·5 penalty units
70	regulation 20(4)	1·25 penalty units
71	regulation 21	1·25 penalty units
72	regulation 22(1)	5 penalty units
73	regulation 23(1)	5 penalty units
74	regulation 23(2)	2·5 penalty units
75	regulation 24(1)	1·25 penalty units
76	regulation 24(3)	2·5 penalty units
77	regulation 24(4)	2·5 penalty units
78	regulation 24(5)	2·5 penalty units
79	regulation 24(6)	2·5 penalty units
80	regulation 24(7)	1·25 penalty units
81	regulation 24(8)	2·5 penalty units
82	regulation 25(2)	2·5 penalty units
83	regulation 25(4)	1·25 penalty units
84	regulation 26(1)	5 penalty units
85	regulation 26(3)	5 penalty units
86	regulation 26(4)	5 penalty units
87	regulation 27(1)	2·5 penalty units
88	regulation 27(2)	1·25 penalty units
89	regulation 30(2)	5 penalty units
90	regulation 30(3)	1·25 penalty units
91	regulation 30(5)	2·5 penalty units
92	regulation 31(1)	5 penalty units

".

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Endnotes

[1] Reg. 4: S.R. No. 48/2018.

——

Penalty Units

These Regulations provide for penalties by reference to penalty units within the meaning of section 110 of the Sentencing Act 1991. The amount of the penalty is to be calculated, in accordance with section 7 of the Monetary Units Act 2004, by multiplying the number of penalty units applicable by the value of a penalty unit.

The value of a penalty unit for the financial year commencing 1 July 2018 is $161.19.

The amount of the calculated penalty may be rounded to the nearest dollar.

The value of a penalty 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 penalty unit for a financial year must be published in the Government Gazette and a Victorian newspaper before 1 June in the preceding financial year.