Transfer of Land (Fees) (Further Amendment) Regulations 2007 (Vic)

Transfer of Land (Fees) (Further Amendment) Regulations 2007

S.R. No. 108/2007

TABLE OF PROVISIONS

Regulation  Page

1Objective

2Authorising provision

3Commencement

4Principal Regulations

5Categories of search services

6Specific fees and amounts

7Miscellaneous fees and amounts

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ENDNOTES

STATUTORY RULES 2007

S.R. No. 108/2007

Transfer of Land Act 1958

Transfer of Land (Fees) (Further Amendment) Regulations 2007

The Governor in Council makes the following Regulations:

Dated: 2 October 2007

Responsible Minister:

GAVIN JENNINGS
Minister for Environment and Climate Change

RUTH LEACH

Clerk of the Executive Council

1Objective

The objective of these Regulations is to amend the Transfer of Land (Fees) Regulations 2004 to prescribe certain fees and amounts payable to the Registrar under the Transfer of Land Act 1958 and to make other minor amendments.

2Authorising provision

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

3Commencement

These Regulations come into operation on 5 November 2007.

4Principal Regulations

In these Regulations, the Transfer of Land (Fees) Regulations 2004[1] are called the Principal Regulations.

5Categories of search services

(1)In regulation 6(1) of the Principal Regulations, for "Category 3 or Category 4" substitute "Category 3, Category 4 or Category 5".

(2)After regulation 6(5) of the Principal Regulations insert—

"(6)A search service is a Category 5 search service if the search service is ordered by and supplied to a person who has entered into an agreement with the State for the provision of on-line access to the land registration records of the Office of Titles for the purpose of creating an electronic instrument for lodgment in the electronic lodgement network.".

6Specific fees and amounts

(1)In Schedule 2 to the Principal Regulations—

(a)for item 5 substitute—

"5 22 Lodgment of a specified dealing being a transfer of the fee simple estate The sum of 8·80 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 8·80 fee units plus $1230";

(b)for items 21, 22, 23 and 24 substitute—

"21	45	Transfer on sale (other than a transfer on sale of one or more mortgages to or by an authorised deposit-taking institution under the Banking Act 1959 of the Commonwealth)— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	The sum of 10·21 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 10·21 fee units plus $1230 The sum of 8·44 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 8·44 fee units plus $1230
22	45	Transfer on sale of one or more mortgages, to or by an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	5·81 fee units 4·04 fee units
23	45	Transfer other than a transfer on sale excluding the creation or surrender of an easement— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	10·21 fee units 8·44 fee units

24 45 Creation or surrender of easement in which the consideration is monetary The sum of 43·99 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 43·99 fee units plus $870";

(c)for items 27 and 28 substitute—

"27	49	Transmission application by personal representative— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	7·28 fee units 5·51 fee units
28	50	Survivorship application by joint proprietor— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	7·28 fee units 5·51 fee units";

(d)for items 48, 49 and 50 substitute—

"48	74	Application to register mortgage or charge— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	8·38 fee units 6·62 fee units
49	75A	Application to register variation of mortgage or charge— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	5·81 fee units 4·04 fee units
50	75B(3)	Application to register variation of priority of mortgage or charge— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	10·21 fee units 8·44 fee units";

(e)for item 52 substitute—

"52 84(1) Application for recording of discharge of mortgage or charge wholly or partially— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument. 8·38 fee units



6·62 fee units";

(f)for items 54 and 55 substitute—

"54	84(3)	Application for recording of satisfaction of annuity— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	10·21 fee units 8·44 fee units
55	84(4)	Application for recording of discharge of mortgage or charge, wholly or partially— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	8·38 fee units 6·62 fee units";

(g)for items 61 and 62 substitute—

"61	89	Application for recording of caveat forbidding dealings with land, or withdrawal of such a caveat wholly or in part— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	5·81 fee units 4·04 fee units
62	89A	Application for service of a notice—for each caveat affected— (a)   in the case of a lodgment of a paper instrument; (b)   in the case of a lodgment of an electronic instrument.	13·14 fee units 11·37 fee units";

(2)After item 84 in Schedule 2 to the Principal Regulations insert—

"84A 114(1) One of the following search services resulting in a statement of subsisting information which identifies the registered proprietor of the land and identifies the documents on which are recorded any notices and encumbrances affecting the land for the purpose of creating an electronic instrument for lodgment in the electronic lodgement network— (a)   Category 1; (b)   Category 5. $6.45 $8.44".

7Miscellaneous fees and amounts

After item 4 in Schedule 3 to the Principal Regulations insert—

"5 120(2) On every electronic instrument lodged—additional amount of $2.00".

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ENDNOTES

[1] Reg. 4: S.R. No. 118/2004.  As amended by S.R. Nos 163/2005, 66/2006, 67/2006 and 66/2007.

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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 2007 is $11.02.  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.