26   Sharing of receipts with unqualified persons

(1)  A licensee must not share the receipts of a conveyancing business with another person unless:

(a)  the other person is a licensee, or

(b)  the sharing of those receipts with that other person is approved by the Director-General and does not contravene the provisions of any regulation under this section.

Maximum penalty: 200 penalty units in the case of a corporation or 100 penalty units in any other case.

(2)  An approval may not be given under this section unless the Director-General is satisfied that the sharing of the receipts of the conveyancing business in accordance with the approval:

(a)  will not result in a person other than a licensee gaining control of the business, and

(b)  will not adversely affect the independent conduct of the licensee’s business or give rise to a conflict between the interests of the licensee and the interests of any of the licensee’s clients.

(3)  This section does not prevent a party to a transaction from recovering from any other person the costs of conveyancing work carried out by a licensee who is employed by the party under a contract of service.

(4)  The regulations may make provision for or with respect to restricting the circumstances in which a licensee may share the receipts of a conveyancing business with another person who is not a licensee.