Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000 (WA)

Western Australia

Real Estate Legislation (Fidelity Guarantee

Funds) Amendment Act 2000

Western Australia

Real Estate Legislation (Fidelity Guarantee

Funds) Amendment Act 2000

CONTENTS

Part 1 — Preliminary

1.	Short title	2
2.	Commencement	2
Part 2 — Real Estate and Business

Agents Act 1978

3.	The Act amended	3
4.	Section 116 amended and revival and transitional
provisions	3
5.	Section 117 amended	4
Part 3 — Settlement Agents Act 1981
6.	The Act amended	5
7.	Section 93 amended and revival and transitional
provisions	5
8.	Section 95 amended	6

Western Australia

Real Estate Legislation (Fidelity Guarantee

Funds) Amendment Act 2000

No. 3 of 2000

An Act to amend the —

• Real Estate and Business Agents Act 1978; and

• Settlement Agents Act 1981,

and for related purposes.

[Assented to 12 April 2000]

The Parliament of Western Australia enacts as follows:

Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000

Part 1	Preliminary
s. 1

Part 1 — Preliminary

1.             Short title

This Act may be cited as the Real Estate Legislation (Fidelity

Guarantee Funds) Amendment Act 2000.

2.             Commencement

This Act comes into operation on the day on which it receives

the Royal Assent.

Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000

Real Estate and Business Agents Act 1978ı Part 2

s. 3

Part 2 — Real Estate and Business Agents Act 1978

3.             The Act amended

The amendments in this Part are to the Real Estate and Business

Agents Act 1978*.

[* Reprinted as at 6 September 1996.

For subsequent amendments see 1998 Index to Legislation of Western Australia, Table 1, p. 211, and Act No. 26 of 1999.]

4.             Section 116 amended and revival and transitional provisions

(1)

Section 116(2) is repealed and the following subsection is

inserted instead —

“

(2)

The Board is to disallow a claim against the Fidelity

Fund unless —

(a) notice of the claim is given in writing to the Board within 3 years after the day on which the claimant became aware of the defalcation; or

(b) the Board —

(i)      has been given notice in writing of the claim within 6 years after the day on which the claimant became aware of the defalcation; and

(ii)      considers that it is just and reasonable in the circumstances to deal with the claim even though notice was not given within the time referred to in paragraph (a).

”.

(2)

A person may give notice of a claim under section 116(2) as

amended by this section even if the time within which that

notice was to be given under that section before that amendment

had expired.

Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000

Part 2	Real Estate and Business Agents Act 1978ı
s. 5

(3)

Where a person may give notice of a claim under section 116(2)

as amended by this section, notice of the claim given by the

person previously in writing to the Board (whether or not dealt

with by the Board) is to be taken to be notice of the claim for

the purposes of that section.

5.             Section 117 amended

Section 117(1) is amended by deleting “receive and settle” and

inserting instead —

“ receive and, subject to section 116(2), settle ”.

Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000

Settlement Agents Act 1981 Part 3

s. 6

Part 3 — Settlement Agents Act 1981

6.             The Act amended

The amendments in this Part are to the Settlement Agents

Act 1981*.

[* Reprinted as at 23 September 1996.

For subsequent amendments see 1998 Index to Legislation of Western Australia, Table 1, p. 229, and Act No. 26 of 1999.]

7.             Section 93 amended and revival and transitional provisions

(1)

Section 93(2) is repealed and the following subsection is

inserted instead —

“

(2)

The Board is to disallow a claim against the Fund

unless —

(a) notice of the claim is given in writing to the Board within 3 years after the day on which the claimant became aware of the defalcation; or

(b) the Board —

(i)      has been given notice in writing of the claim within 6 years after the day on which the claimant became aware of the defalcation; and

(ii)      considers that it is just and reasonable in the circumstances to deal with the claim even though notice was not given within the time referred to in paragraph (a).

”.

(2)

A person may give notice of a claim under section 93(2) as

amended by this section even if the time within which that

notice was to be given under that section before that amendment

had expired.

Real Estate Legislation (Fidelity Guarantee Funds) Amendment Act 2000

Part 3	Settlement Agents Act 1981
s. 8

(3)

Where a person may give notice of a claim under section 93(2)

as amended by this section, notice of the claim given by the

person previously in writing to the Board (whether or not dealt

with by the Board) is to be taken to be notice of the claim for

the purposes of that section.

8.             Section 95 amended

Section 95(1) is amended by deleting “receive and settle” and

inserting instead —

“ receive and, subject to section 93(2), settle ”.