Division 2(1) The Director-General may appoint a manager for a licensee’s conveyancing business if:(a) the licensee has made a request to the Director-General for the appointment of a manager, or(b) the Director-General has suspended or cancelled the licensee’s licence under section 13, or(c) the Director-General is of the opinion (whether as a consequence of a determination by the Director-General under Part 10 of the Property, Stock and Business Agents Act 2002 or otherwise) that there has been, or that there may have been, a failure to account by the licensee, or(d) the Director-General is of the opinion that a person is unable to obtain payment or delivery of property held by the licensee because the licensee:and if the Director-General is of the opinion that it is necessary to make the appointment in order to protect the interests of other persons.• is mentally or physically infirm, or• is bankrupt, has applied to take the benefit of any law for the relief of bankrupt or insolvent debtors, has compounded with his or her creditors or has made an assignment of his or her remuneration for their benefit, or• is an inmate within the meaning of the Crimes (Administration of Sentences) Act 1999, or• has died, or• has abandoned his or her conveyancing business,(2) In the case of a conveyancing business that is conducted by 2 or more licensees in partnership, a reference in subsection (1) to a licensee is to be read as a reference to all of the licensees in the partnership.(3) The terms of appointment of a manager must specify the remuneration to which the manager is to be entitled in connection with the management of the conveyancing business for which the manager is appointed.
44 Qualifications for appointment as manager
A person is not eligible to be appointed as the manager of a licensee’s conveyancing business unless the person is a licensee or a solicitor who holds an unrestricted practising certificate.
(1) The manager of a licensee’s conveyancing business may, subject to subsection (2) and to the terms of his or her appointment:(a) carry out conveyancing work on behalf of the existing clients of the business, and(b) accept instructions from, and carry out conveyancing work on behalf of, new clients, and(c) dispose of, and otherwise deal with, any property in relation to the business, and(d) exercise any right in the nature of a lien over property held by the manager on behalf of the clients of the business, and(e) incur such expenses as are reasonably related to the conduct of the business, and(f) do all such things as are ancillary to the exercise of the powers referred to in paragraphs (a)–(e),as if he or she were the licensee to whom the business belongs.(2) The manager of a licensee’s conveyancing business may not exercise any of the functions conferred by this section in relation to the affairs of a client of the business unless the client’s consent has been obtained to the manager’s exercise of those functions.
46 Management continues under receivership
(1) The manager of a licensee’s conveyancing business may continue to exercise his or her functions under this Division even if a receiver is appointed under Division 3 in respect of the licensee’s property.(2) The manager of a licensee’s conveyancing business for which a receiver is appointed must comply with any lawful direction given by the receiver in connection with the conduct of the business.
47 Acts of manager to be taken as acts of licensee
(1) An act done by the manager of a licensee’s conveyancing business is, for the purposes of any proceedings or transaction that relies on that act, taken to have been done by the licensee.(2) Nothing in this section subjects a licensee to any personal liability in relation to any act done by the manager of the licensee’s conveyancing business.
48 Manager may be reimbursed for damages
(1) The Director-General may reimburse a manager for any damages and costs recovered against the manager, or an employee or agent of the manager, for an act or omission done or omitted in good faith and in the purported exercise of a function under this Act.(2) Reimbursement under this section is to be by way of payment from the Operating Account.(3) Neither the manager of a licensee’s conveyancing business nor the Director-General is liable for any loss incurred by the licensee as a consequence of any act or omission of the manager or the Director-General in the conduct of the business if the act or omission was done or omitted in good faith and in the purported exercise of a function under this Act.
49 Payment of expenses of management
(1) So much of the expenses of the management of a licensee’s conveyancing business as have not otherwise been paid to the manager out of the receipts of the business are to be paid to the manager by the Director-General from the Operating Account.(2) An amount paid under this section is recoverable by the Director-General as a debt owed by the relevant licensee.
50 Manager to report to Director-General
(1) The manager of a licensee’s conveyancing business must report to the Director-General on the management of the business. A report must be made at such times as the Director-General directs and be in accordance with any directions given by the Director-General.(2) A report is to include such information as the Director-General directs.(3) On the conclusion of the management of a licensee’s conveyancing business, the manager must, when giving the Director-General his or her final report, lodge with the Director-General all the manager’s records that relate to the management.
(1) Division 2 of Part 3 applies to the accounts kept by a manager in the same way as it applies to the accounts kept by a licensee.(2) The trust accounts and controlled money accounts of a conveyancing business under management are to be maintained separately from the trust accounts and controlled money accounts of any other conveyancing business under management.
The regulations may make provision with respect to:(a) the accounts that are to be kept in relation to the income accrued, and the expenses incurred, by the manager of a licensee’s conveyancing business in connection with the conduct of the business, and(b) the purposes for which money in any such account may be expended.
When a licensee’s conveyancing business ceases to be under management, any money held by the manager in connection with the business (after reimbursement of any money paid out of the Operating Account in connection with the management of the business and after payment of the expenses of the management of the business) becomes the property of the licensee.
A person must not hinder, obstruct or delay a manager in the exercise of his or her functions under this Division.Maximum penalty: 50 penalty units.