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STATUTES AMENDMENT (REAL ESTATE INDUSTRY REFORM) ACT 2007 (NO 28 OF 2007)


TABLE OF PROVISIONS

           Long Title

   PART 1--Preliminary

   1.      Short title
   2.      Commencement
   3.      Amendment provisions

   PART 2--Amendment of Conveyancers Act 1994

   4.      Amendment of section 7--Entitlement to be registered
   5.      Amendment of section 14--Interpretation of Part 4
   6.      Amendment of section 31--Indemnity fund
   7.      Amendment of section 32--Claims on indemnity fund
   8.      Amendment of section 34--Establishment and determination of claims
   9.      Amendment of section 45--Cause for disciplinary action

   PART 3--Amendment of Land Agents Act 1994

   10.     Amendment of section 3--Interpretation
   11.     Amendment of section 6--Agents to be registered
   12.     Insertion of sections 6A and 6B
   13.     Amendment of section 7--Application for registration
   14.     Amendment of section 8--Entitlement to be registered as agent
   15.     Substitution of section 8A
   16.     Amendment of section 9--Duration of registration and annual fee and return
   17.     Substitution of section 11
   18.     Amendment of section 12--Interpretation of Part 3
   19.     Amendment of section 22--Audit of trust accounts
   20.     Amendment of section 29--Indemnity fund
   21.     Amendment of section 30--Claims on indemnity fund
   22.     Amendment of section 32--Establishment and determination of claims
   23.     Amendment of section 42--Interpretation of Part 4
   24.     Substitution of section 43
   25.     Amendment of section 47--Disciplinary action
   26.     Insertion of section 48A
   27.     Amendment of section 52--Register
   28.     Amendment of section 62--Evidence
   29.     Amendment of section 63--Service of documents
   30.     Amendment of section 65--Regulations

   PART 4--Amendment of Land and Business (Sale and Conveyancing) Act 1994

   31.     Amendment of section 3--Interpretation
   32.     Amendment of section 4--Meaning of small business
   33.     Amendment of section 5--Cooling-off
   34.     Amendment of section 6--Abolition of instalment purchase or rental purchase arrangements
   35.     Amendment of section 7--Particulars to be supplied to purchaser of land before settlement
   36.     Amendment of section 8--Particulars to be supplied to purchaser of small business before settlement
   37.     Amendment of section 9--Verification of vendor's statement
   38.     Amendment of section 13--False certificate
   39.     Insertion of section 13A
   40.     Amendment of section 14--Offence to contravene Part
   41.     Amendment of section 17--Service of vendor's statement etc
   42.     Amendment of section 19--Inducement to buy subdivided land
   43.     Substitution of Part 4

   PART 4--Special requirements relating to agents and sales representatives

   PART 4A--Auctions

   44.     Amendment of section 26--Interpretation of
   45.     Amendment of section 27--Preparation of conveyancing instrument for fee or reward
   46.     Amendment of section 28--Preparation of conveyancing instrument by agent or related person
   47.     Amendment of section 29--Procuring or referring conveyancing business
   48.     Amendment of section 30--Conveyancer not to act for both parties unless authorised by regulations
   49.      Amendment of section 33--No exclusion etc of rights conferred or conditions implied or applied by Act
   50.     Amendment of section 36--False or misleading representation
   51.     Insertion of sections 37, 37A and 37B
   52.     Amendment of section 41--Regulations
   53.     Insertion of section 42


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