Western Australian Consolidated Acts

SETTLEMENT AGENTS ACT 1981 - SCHEDULE 2

[s. 46 and 47]

        [Heading amended by No. 19 of 2010 s. 35(5).]

1 .         Real estate settlement agent

        (1)         A licensee who holds a real estate settlement agent’s licence and a current triennial certificate may perform the following functions —

            (a)         searching land titles and dealings in the records of the Western Australian Land Information Authority established by the Land Information Authority Act 2006 section 5 (the Authority ) and searching for caveats against any of those dealings;

            (b)         searching and inquiring at other Government offices and at the offices of statutory authorities and local governments, and obtaining certificates therefrom, in respect of records, plans and policies and making inquiries with respect to adjustment of rates, taxes and other outgoings of a periodical nature in respect of the real estate the subject of the transaction involved in a settlement;

            (c)         preparing a settlement statement and an authority for the payment or receipt of moneys in respect of the transaction involved in a settlement;

            (d)         arranging the payment of duty imposed under the Duties Act 2008 , and any other imposts or fees on documents in respect of the real estate transaction;

            (e)         arranging and attending on settlement, including exchanging documents and receiving and disbursing moneys to effect the settlement;

            (f)         lodging documents in respect of the real estate transaction with the Authority or other Government offices or the offices of statutory authorities for registration;

            (g)         uplifting such documents from the Authority or other Government offices or the offices of statutory authorities;

            (h)         completing powers of attorney in such form and subject to such conditions as are prescribed;

                  (i)         subject to any conditions imposed by the code of conduct, drawing or preparing and arranging the execution of the documents set forth in subclause (2);

            (j)         reporting on the progress of the settlement to the party to the transaction by whom the licensee was appointed to arrange or effect the settlement.

        (2)         A licensee who holds a real estate settlement agent’s licence and a current triennial certificate may draw or prepare the following documents —

            (a)         an offer and acceptance form in such form and subject to such conditions as are prescribed;

            (b)         requisitions on title in such form and subject to such conditions as are prescribed;

            (c)         such documents that are to be registered or lodged under or for the purposes of the —

                  (i)         Land Act 1933 ⁵ ; or

                  (ii)         Registration of Deeds Act 1856 ; or

                  (iii)         Strata Titles Act 1985 ; or

                  (iv)         Transfer of Land Act 1893 ,

                as are prescribed and subject to such conditions as are prescribed;

            (d)         a statutory declaration to support any of the documents that are referred to in paragraphs (a) and (b) or that are prescribed under paragraph (c);

            (e)         a declaration to confirm that a power of attorney remains unrevoked.

        [Clause 1 amended by No. 58 of 1995 s. 98; No. 14 of 1996 s. 4; No. 62 of 1996 s. 5(1); No. 81 of 1996 s. 153(1); No. 60 of 2006 s. 158; No. 12 of 2008 Sch. 1 cl. 34.]

2 .         Business settlement agent

                A licensee who holds a business settlement agent’s licence and a current triennial certificate may perform the following functions —

            (a)         searching and inquiring at Government offices and at the offices of statutory authorities and local governments, in respect of records, registers, plans and policies relating to the business the subject of the transaction involved in a settlement;

            (b)         making inquiries in respect of adjustments for long service leave or holiday pay, rent, leased or hired plant or equipment, rates, taxes and other outgoings of a periodical nature;

            (c)         arranging the employment of a stocktaker;

            (d)         arranging the transfer of facilities and services provided to the business the subject of the transaction involved in a settlement;

            (e)         arranging the payment of duty imposed under the Duties Act 2008 , and any other imposts or fees on documents in respect of the business transaction;

            (f)         arranging and attending on settlement, including exchanging documents and receiving and disbursing moneys to effect the settlement;

        [(fa)         deleted]

            (g)         lodging documents in respect of the business transaction at Government offices or the offices of statutory authorities for registration;

            (h)         subject to such conditions as are imposed by the code of conduct, preparing and arranging the execution of any applications necessary under the Business Names Registration Act 2011 (Commonwealth) to effect the transfer of a business name under that Act;

                  (i)         reporting on the progress of the settlement to the party to the transaction by whom the licensee was appointed to arrange or effect the settlement.

        [Clause 2 amended by No. 14 of 1996 s. 4; No. 62 of 1996 s. 5(2); No. 81 of 1996 s. 153(2); No. 12 of 2008 Sch. 1 cl. 34; No. 42 of 2011 s. 59; No. 6 of 2012 s. 43.]