Transfer of Land (Fees) (Amendment) Regulations 2006 (Vic)

Transfer of Land (Fees) (Amendment) Regulations 2006

S.R. No. 66/2006

TABLE OF PROVISIONS

Regulation  Page

1.Objective

2.Authorising provision

3.Commencement

4.Increases in specific fees and amounts

5.Further increase in specific fees and amounts

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ENDNOTES

STATUTORY RULES 2006

S.R. No. 66/2006

Transfer of Land Act 1958

Transfer of Land (Fees) (Amendment) Regulations 2006

The Governor in Council makes the following Regulations:

Dated: 6 June 2006

Responsible Minister:

ROB HULLS

Minister for Planning

RUTH LEACH

Clerk of the Executive Council

1.Objective

The objective of these Regulations is to increase certain fees and amounts payable to the Registrar under the Transfer of Land Act 1958.

2.Authorising provision

These Regulations are made under section 120 of the Transfer of Land Act 1958.

3.Commencement

(1)These Regulations, except regulation 5, come into operation on 1 July 2006.

(2)Regulation 5 comes into operation on 1 July 2007.

4.Increases in specific fees and amounts

In Schedule 2 to the Transfer of Land (Fees) Regulations 2004[1], in items 48, 52 and 55, for "4×40 fee units" substitute "$75.00".

5.Further increase in specific fees and amounts

In Schedule 2 to the Transfer of Land (Fees) Regulations 2004, in items 48, 52 and 55, for "$75.00" substitute "6×98 fee units".

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ENDNOTES

[1] Reg. 4: S.R. No. 118/2004 (as amended by S.R. No. 163/2005).

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Fee Units

These Regulations provide for fees by reference to fee units established under 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 2006, is $10.75.  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.