Western Australian Current Acts

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SETTLEMENT AGENTS ACT 1981 - SECT 46

46 .         Real estate settlement agents, functions of

        (1)         Subject to subsection (2), a licensee who holds a real estate settlement agent’s licence and a current triennial certificate may arrange or effect a settlement of any real estate transaction that is in respect of land under the Transfer of Land Act 1893 or the Land Administration Act 1997 .

        (2)         Notwithstanding any other provision of this section a licensee shall not arrange or effect a settlement of any real estate transaction if the land the subject of that real estate transaction —

            (a)         is not a lot or lots within the meaning of the Planning and Development Act 2005 ; or

            (b)         is leasehold (other than land under the Land Administration Act 1997 ); or

            (c)         is comprised in whole or in part of a business other than a business which is wholly that of farming (whether or not the land is conveyed separately); or

            (d)         comprises any mining tenement or mining licence.

        (3)         A licensee who holds a current triennial certificate may act for either the vendor, the purchaser, or the mortgagee, in a settlement referred to in subsection (1) but may not act for more than one party to the real estate transaction in that settlement unless each of the parties for whom he is to act, in writing —

            (a)         acknowledges that he is aware that the licensee proposes to so act; and

            (b)         gives his prior consent to the licensee so acting.

        (4)         In arranging or effecting a settlement referred to in subsection (1) a licensee may perform the functions set forth in Schedule 2 clause 1(1) or (2A), but in performing any or all of those functions a licensee shall not give or attempt to give advice on a matter of law.

        (5)         Notwithstanding the Legal Profession Act 2008 , a licensee may draw or prepare the documents set forth in clause 1(2) of Schedule 2.

        (6)         A licensee may receive a mortgage or discharge of mortgage prepared by or on behalf of another person and arrange for its execution and stamping, and arrange and attend on settlement on behalf of that person and receive and disburse moneys in respect thereof.

        (7)         In subsection (6) —

        discharge of mortgage includes a withdrawal of a caveat which notifies or protects an unregistered, equitable, or statutory mortgage or charge.

        (8)         For the purposes of effecting a settlement referred to in subsection (1) that is being or is to be completed (wholly or in part) electronically under the Electronic Conveyancing Act 2014  —

            (a)         if a licensee who is a natural person holds a real estate settlement agent’s licence and a current triennial certificate and is a subscriber (as defined in section 3(1) of that Act), that licensee may authorise any employee of the licensee to digitally sign documents and provide certifications on that licensee’s behalf; and

            (b)         if a licensee that is a firm holds a real estate settlement agent’s licence and a current triennial certificate and is a subscriber (as so defined), the person in bona fide control of the business operated under the licence may authorise any employee of the licensee to digitally sign documents and provide certifications on that licensee’s behalf; and

            (c)         if a licensee that is a body corporate holds a real estate settlement agent’s licence and a current triennial certificate and is a subscriber (as so defined), the person in bona fide control of the business operated under the licence may authorise any employee of the licensee to digitally sign documents and provide certifications on that licensee’s behalf; and

            (d)         subject to any participation rules determined under section 23 of that Act, a person authorised under paragraph (a) or (b) or (c) may digitally sign documents and provide certifications in accordance with that authorisation.

        (9)         An authorisation given under subsection (8)(a) or (b) or (c) to an employee of a licensee —

            (a)         unless sooner revoked, continues for as long as the person remains an employee of the licensee; and

            (b)         may be revoked by —

                  (i)         the licensee; or

                  (ii)         any person who, under subsection (8), is entitled to give authorisations to employees of the licensee, whether or not the person who originally gave the authorisation.

        [Section 46 amended: No. 31 of 1997 s. 141; No. 65 of 2003 s. 66(3); No. 38 of 2005 s. 15; No. 21 of 2008 s. 704(3); No. 19 of 2010 s. 51; No. 2 of 2014 s. 57.]



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