Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 2025 00-00-00 Xml

Western Australia

Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 2025

Contents

Part 1 — Preliminary

1.Citation1

2.Commencement1

Part 2 — Real Estate and Business Agents (General) Regulations 1979 amended

3.Regulations amended2

4.Part 1 heading inserted2

Part 1 — Preliminary

5.Regulation 2 amended2

6.Part 2 heading inserted4

Part 2 — Fees

7.Regulation 4 amended4

8.Part 3 heading inserted5

Part 3 — Educational requirements

9.Regulation 4AA amended5

10.Regulation 4AB amended7

11.Regulations 4AC and 4AD replaced8

4AC.CPD points8

12.Regulation 4AE inserted8

4AE.Approval of CPD providers8

13.Regulations 4AF to 4AJ inserted9

4AF.Approval of CPD topics9

4AG.Mandatory CPD topic for CPD year10

4AH.CPD content11

4AI.CPD records: providers11

4AJ.CPD records: regulated persons12

14.Part 4 heading inserted12

Part 4 — Licensing of agents and registration of sales representatives

15.Regulation 6 amended13

16.Regulation 6A replaced13

6A.Prescribed qualifications for certificate applicants (Act s. 47(2))13

17.Part 5 heading inserted16

Part 5 — General controls

18.Part 6 heading inserted16

Part 6 — Agents’ trust accounts

19.Regulation 6H amended16

20.Part 7 heading inserted17

Part 7 — Miscellaneous

21.Part 8 heading inserted17

Part 8 — Transitional provisions

22.Regulation 18 inserted18

18.Transitional regulation for Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 202518

23.Schedule 1A deleted18

24.Schedule 2 amended19

25.Schedule 3 amended19

Part 3 — Settlement Agents Regulations 1982 amended

26.Regulations amended20

27.Part 1 heading inserted20

Part 1 — Preliminary

28.Regulation 2 amended20

29.Part 2 heading inserted22

Part 2 — Fees

30.Regulation 4 amended22

31.Part 3 heading inserted22

Part 3 — Educational requirements

32.Regulation 4B amended22

33.Regulation 4C amended24

34.Regulations 4D and 4E replaced25

4D.CPD points25

35.Regulation 4F inserted25

4F.Approval of CPD providers25

36.Regulations 4G to 4K inserted26

4G.Approval of CPD topics26

4H.Mandatory CPD topic for CPD year27

4I.CPD content28

4J.CPD records: providers28

4K.CPD records: licensees29

37.Part 4 heading inserted29

Part 4 — Licensing of settlement agents

38.Part 5 heading inserted30

Part 5 — General controls

39.Part 6 heading inserted30

Part 6 — Trust accounts

40.Regulation 6F amended30

41.Part 7 heading inserted31

Part 7 — Miscellaneous

42.Regulation 15 amended31

43.Part 8 heading inserted31

Part 8 — Transitional provisions

44.Regulation 19 inserted32

19.Transitional regulation for Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 202532

45.Schedule 1A deleted32

46.Schedule 5 amended33

Part 3 — Other offences

47.Schedule 6 amended33

Real Estate and Business Agents Act 1978
Settlement Agents Act 1981

Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 2025

Made by the Governor in Executive Council.

Part 1 — Preliminary

1.Citation

These regulations are the Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 2025.

2.Commencement

These regulations come into operation as follows —

(a)Part 1 — on the day on which these regulations are published on the WA legislation website (publication day);

(b)Part 2 (but only regulations 3, 12 and 22) and Part 3 (but only regulations 26, 35 and 44) — on the day after publication day;

(c)the rest of the regulations — on 1 January 2026.

Part 2 — Real Estate and Business Agents (General) Regulations 1979 amended

3.Regulations amended

This Part amends the Real Estate and Business Agents (General) Regulations 1979.

4.Part 1 heading inserted

Before regulation 1 insert:

Part 1 — Preliminary

5.Regulation 2 amended

(1)In regulation 2(1) delete “regulations, unless the contrary intention appears —” and insert:

regulations —

(2)In regulation 2(1) delete the definitions of:

approved CPD activity

calendar year

continuing professional development activity

CPD subject

mandatory CPD activity

point value

record

registered training provider

(3)In regulation 2(1) insert in alphabetical order:

approved CPD provider means a person who holds an approval granted under regulation 4AE that is in effect;

approved CPD topic means a topic listed in a notice under regulation 4AF(1);

Commissioner’s website means a website maintained by or on behalf of —

(a)the Commissioner; or

(b)if there is no website maintained by, or on behalf of the Commissioner — the department;

CPD activity means an educational activity that —

(a)is provided by an approved CPD provider; and

(b)relates to an approved CPD topic; and

(c)meets the requirements of regulation 4AH;

CPD subject means any of the following subjects —

(a)ethics or professional responsibility;

(b)professional skills;

(c)legal requirements;

CPD year means a year beginning on 1 April and ending on 31 March;

mandatory CPD topic, for a regulated person and a CPD year, means an approved CPD topic specified by the Commissioner under regulation 4AG as a mandatory CPD topic for the regulated person for the CPD year;

point has the meaning given in regulation 4AC(1);

point value, in relation to a CPD activity, means the number of points earned for the activity determined in accordance with regulation 4AC(1);

required number of points, in relation to a mandatory CPD topic, means the number of points specified in the notice under regulation 4AG(3);

topic means a subject matter to which an educational activity relates or may relate;

(4)In regulation 2(1) in the definition of educational activity paragraph (a) delete “that relates to a CPD subject”.

(5)In regulation 2(3)(b) delete “provider.” and insert:

provider as defined in the Vocational Education and Training Act 1996 section 5(1).

6.Part 2 heading inserted

After regulation 3A insert:

Part 2 — Fees

7.Regulation 4 amended

In regulation 4(1) delete “shall be” and insert:

are

8.Part 3 heading inserted

Before regulation 4AA insert:

Part 3 — Educational requirements

9.Regulation 4AA amended

(1)Delete regulation 4AA(1) and insert:

(1)For the purposes of sections 40B and 50C of the Act, the educational requirements for a regulated person for a CPD year are that the person complete CPD activities that have a combined point value of at least 5 points, which must include —

(a)at least 1 point relating to each CPD subject; and

(b)if there is a mandatory CPD topic for the person for the year — at least the required number of points relating to the mandatory CPD topic.

(2)In regulation 4AA(2):

(a)delete “calendar” (1st occurrence) and insert:

CPD

(b)delete paragraph (a)(i) and insert:

(i)the licensee’s licence is granted between 1 January and 31 March of the CPD year;

(c)in paragraph (a)(ii) delete “completed” and insert:

completes

(d)delete paragraph (b) and insert:

(b)a sales representative whose certificate of registration is granted between 1 January and 31 March of the CPD year; or

(e)in paragraph (c)(i) delete “calendar” and insert:

CPD

(3)Delete regulation 4AA(3) and insert:

(3)If a person becomes a regulated person between 1 June and 31 December in a CPD year —

(a)the combined point value of the CPD activities the person must complete during the balance of the CPD year is the value determined under the Table rather than the value that would otherwise apply under subregulation (1); and

(b)subregulation (1)(a) and (b) apply to the person in relation to the CPD year, but only to the extent that is practicable for the person to comply with the requirements of those paragraphs without needing to complete CPD activities with a combined point value that is higher than the value determined under the Table.

Table

Month in which person becomes a regulated person	Combined point value
June or July	4
August or September	3
October or November	2
December	1

10.Regulation 4AB amended

(1)In regulation 4AB(1) delete “calendar” and insert:

CPD

(2)In regulation 4AB(2):

(a)in paragraph (a) delete “calendar” and insert:

CPD

(b)in paragraph (c) delete “otherwise”.

(3)Delete regulation 4AB(3).

(4)In regulation 4AB(4):

(a)delete “Without limiting subregulation (3), the” and insert:

The

(b)delete “calendar” and insert:

CPD

11.Regulations 4AC and 4AD replaced

Delete regulations 4AC and 4AD and insert:

4AC.CPD points

(1)A regulated person earns 1 point for each hour of a CPD activity that the regulated person completes.

(2)A point is earned in relation to a CPD subject or a mandatory CPD topic if the CPD activity for which the point is earned relates to the subject or topic.

12.Regulation 4AE inserted

After regulation 4AD insert:

4AE.Approval of CPD providers

(1)A person may apply, in the approved form, to the Commissioner for approval to provide CPD activities.

(2)The Commissioner may, by written notice given to the applicant —

(a)grant the approval; or

(b)refuse to grant the approval.

(3)The Commissioner may grant an approval under subregulation (2) if the Commissioner is satisfied that the applicant is qualified by practical or academic experience to provide educational activities that meet the requirements of regulation 4AH.

(4)A notice given under subregulation (2)(a) of a decision to grant an approval must specify the period during which the approval has effect (which must not be more than 3 years).

(5)A notice given under subregulation (2)(b) of a decision to refuse to grant an approval must include the reasons for the decision.

(6)The Commissioner must publish a list of approved CPD providers on the Commissioner’s website.

13.Regulations 4AF to 4AJ inserted

After regulation 4AE insert:

4AF.Approval of CPD topics

(1)The Commissioner must, by written notice, approve a list of CPD topics for regulated persons.

(2)A topic may be approved under subregulation (1) if the Commissioner considers that —

(a)the topic relates to a CPD subject; and

(b)the topic is relevant to a regulated person’s work as a licensee or sales representative; and

(c)the completion of an educational activity dealing with the topic would extend a regulated person’s knowledge and skills in an area relevant to the regulated person’s legal or professional obligations, professional skills or business needs.

(3)The notice under subregulation (1) must —

(a)specify the CPD subject to which each approved CPD topic relates; and

(b)be published on the Commissioner’s website.

4AG.Mandatory CPD topic for CPD year

(1)The Commissioner may, by written notice, specify that an approved CPD topic is a mandatory CPD topic for a CPD year for —

(a)regulated persons generally; or

(b)a specified class of regulated persons.

(2)An approved CPD topic may be specified as a mandatory CPD topic under subregulation (1) if the Commissioner considers that it is necessary or desirable for regulated persons, or regulated persons of the specified class, to extend their knowledge or skills in relation to the topic, including because there have been —

(a)legislative or regulatory changes relevant to the topic; or

(b)industry developments relevant to the topic; or

(c)instances of non‑compliance or suspected non‑compliance in connection with the topic.

(3)The notice under subregulation (1) must —

(a)specify the number of CPD points required to be earned in relation to the mandatory CPD topic; and

(b)be published on the Commissioner’s website before the beginning of the CPD year to which it relates.

4AH.CPD content

An educational activity meets the requirements of this regulation if it —

(a)is an activity of significant intellectual or practical content; and

(b)deals primarily with matters relating to a regulated person’s work of acting as a licensee or sales representative; and

(c)extends a regulated person’s knowledge and skills in areas that are relevant to the person’s legal or professional obligations, professional skills or business needs.

4AI.CPD records: providers

(1)This regulation applies if a regulated person completes a CPD activity.

(2)The approved CPD provider in relation to the activity must give the regulated person a record that confirms the person has completed the activity.

(3)The record must be given to the regulated person within 14 days after the day on which the person completes the activity.

(4)The approved CPD provider must keep a copy of the record given under subregulation (2) for a period of 4 years from the day on which the person completes the activity.

(5)The Commissioner may, by written notice, require an approved CPD provider to produce a copy of the record kept under subregulation (4).

(6)A failure of an approved CPD provider to comply with this regulation may be taken into account by the Commissioner when deciding whether to grant the provider a further approval under regulation 4AE(2)(a).

4AJ.CPD records: regulated persons

(1)A regulated person must keep evidence demonstrating compliance with the educational requirements applicable to the person under section 40B or 50C of the Act, including any record given to the person under regulation 4AI(2).

Penalty for this subregulation: a fine of $1 000.

(2)The regulated person must keep the evidence referred to in subregulation (1) for a period of 4 years after the last day of the CPD year to which the evidence relates.

(3)The Commissioner may, by written notice, require a regulated person to produce, in the approved manner, the evidence required to be kept under this regulation.

(4)The regulated person must produce the evidence unless the regulated person has a reasonable excuse for not producing it.

Penalty for this subregulation: a fine of $1 000.

14.Part 4 heading inserted

Before regulation 4B insert:

Part 4 — Licensing of agents and registration of sales representatives

15.Regulation 6 amended

In regulation 6 Table 1:

(a)in the item relating to Any other unrestricted certificate delete “Column 1” (each occurrence) and insert:

column 1

(b)in the item relating to Restricted certificate (property management) delete “Column 2” (each occurrence) and insert:

column 2

16.Regulation 6A replaced

Delete regulation 6A and insert:

6A.Prescribed qualifications for certificate applicants (Act s. 47(2))

(1)For a person who applies for a restricted certificate (sales), the prescribed qualification for the purposes of section 47(2) of the Act is the successful completion of modules from the CPP Property Services Training Package listed in the Table as follows —

(a)each of the modules indicated as mandatory in column 1;

(b)any 3 of the modules indicated as elective in column 1.

(2)For a person who applies for a restricted certificate (property management), the prescribed qualification for the purposes of section 47(2) of the Act is the successful completion of each of the modules from the CPP Property Services Training Package indicated as mandatory in the Table column 2.

(3)For a person who applies for an unrestricted certificate, the prescribed qualification for the purposes of section 47(2) of the Act is the successful completion of modules from the CPP Property Services Training Package listed in the Table as follows —

(a)each of the modules indicated as mandatory in column 3;

(b)any 3 of the modules indicated as elective in column 3.

Table

	Column 1 Applicants for restricted certificate (sales)	Column 2 Applicants for restricted certificate (property management)	Column 3 Applicants for unrestricted certificate
CPPREP4001	Mandatory	Mandatory	Mandatory
CPPREP4002	Mandatory	Mandatory	Mandatory
CPPREP4003	Mandatory	Mandatory	Mandatory
CPPREP4004	Mandatory	Mandatory	Mandatory
CPPREP4005	Mandatory	Mandatory	Mandatory
CPPREP4101	Mandatory	Mandatory	Mandatory
CPPREP4102	Mandatory	Mandatory	Mandatory
CPPREP4103	Mandatory	Not accepted	Mandatory
CPPREP4104	Mandatory	Not accepted	Mandatory
CPPREP4105	Mandatory	Not accepted	Mandatory
CPPREP4121	Not accepted	Mandatory	Mandatory
CPPREP4122	Not accepted	Mandatory	Mandatory
CPPREP4123	Not accepted	Mandatory	Mandatory
CPPREP4124	Not accepted	Mandatory	Mandatory
CPPREP4125	Not accepted	Mandatory	Mandatory
CPPREP4201	Elective	Not accepted	Elective
CPPREP4202	Elective	Not accepted	Elective
CPPREP4203	Elective	Not accepted	Elective
CPPREP4204	Elective	Not accepted	Elective
CPPREP5201	Elective	Not accepted	Elective

17.Part 5 heading inserted

After regulation 6B insert:

Part 5 — General controls

18.Part 6 heading inserted

After regulation 6BB insert:

Part 6 — Agents’ trust accounts

19.Regulation 6H amended

(1)Before regulation 6H(1) insert:

(1A)In this regulation —

money record means a record under section 69(1)(b) of the Act.

(2)In regulation 6H(1) delete “record shall be —” and insert:

money record must be —

(3)In regulation 6H(2) delete “record shall” and insert:

money record must

(4)In regulation 6H(3):

(a)delete “record shall” and insert:

money record must

(b)delete ““record”.” and insert:

“money record”.

Note: The heading to amended regulation 6H is to read:

Record keeping requirements (Act s. 69(2))

20.Part 7 heading inserted

After regulation 6H insert:

Part 7 — Miscellaneous

21.Part 8 heading inserted

After regulation 15 insert:

Part 8 — Transitional provisions

22.Regulation 18 inserted

After regulation 17 insert:

18.Transitional regulation for Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 2025

(1)In this regulation —

commencement day means 1 January 2026.

(2)If a regulated person completes a CPD activity in the period beginning on commencement day and ending on 31 March 2026, the activity is counted towards the educational requirements applicable to the person under section 40B or 50C of the Act for the CPD year beginning on 1 April 2026.

(3)The reference in regulation 4AE(1) to CPD activities is, before commencement day, a reference to that term as defined in regulation 2(1) as it will be in force on commencement day.

(4)The reference in regulation 4AE(3) to regulation 4AH is, before commencement day, a reference to that regulation as it will be in force on commencement day.

23.Schedule 1A deleted

Delete Schedule 1A.

24.Schedule 2 amended

In Schedule 2 Forms 2 and 3 delete “Mines,” (each occurrence) and insert:

Local Government,

25.Schedule 3 amended

In Schedule 3 before the item for regulation 8 insert:

r. 4AJ(1)	Failing to keep evidence	$200
r. 4AJ(4)	Failing to produce evidence	$200

Part 3 — Settlement Agents Regulations 1982 amended

26.Regulations amended

This Part amends the Settlement Agents Regulations 1982.

27.Part 1 heading inserted

Before regulation 1 insert:

Part 1 — Preliminary

28.Regulation 2 amended

(1)In regulation 2 delete the definitions of:

approved educational activity

core professional development subject

point value

professional development subject

record

(2)In regulation 2 insert in alphabetical order:

approved CPD provider means a person who holds an approval granted under regulation 4F that is in effect;

approved CPD topic means a topic listed in a notice under regulation 4G(1);

Commissioner’s website means a website maintained by, or on behalf of —

(a)the Commissioner; or

(b)if there is no website maintained by, or on behalf of the Commissioner — the department;

CPD activity means an educational activity that —

(a)is provided by an approved CPD provider; and

(b)relates to an approved CPD topic; and

(c)meets the requirements of regulation 4I;

CPD subject means any of the following subjects —

(a)ethics or professional responsibility;

(b)professional skills;

(c)legal requirements;

CPD year means a year beginning on 1 April and ending on 31 March;

mandatory CPD topic, for a licensee and a CPD year, means an approved CPD topic specified by the Commissioner under regulation 4H as a mandatory CPD topic for the licensee for the CPD year;

point has the meaning given in regulation 4D(1);

point value, in relation to a CPD activity, means the number of points earned for the activity determined in accordance with regulation 4D(1);

required number of points, in relation to a mandatory CPD topic, means the number of points specified in the notice under regulation 4H(3);

topic means a subject matter to which an educational activity relates or may relate;

(3)In regulation 2 in the definition of educational activity paragraph (a) delete “that relates to a professional development subject”.

29.Part 2 heading inserted

Before regulation 4 insert:

Part 2 — Fees

30.Regulation 4 amended

In regulation 4 delete “shall be” and insert:

are

31.Part 3 heading inserted

Before regulation 4B insert:

Part 3 — Educational requirements

32.Regulation 4B amended

(1)Delete regulation 4B(1) and insert:

(1)For the purposes of section 41B of the Act, the educational requirements for a CPD year for a licensee who is an individual are that the licensee complete CPD activities that have a combined point value of at least 5 points, which must include —

(a)at least 1 point relating to each CPD subject; and

(b)if there is a mandatory CPD topic for the licensee for the year — at least the required number of points relating to the mandatory CPD topic.

(2)In regulation 4B(2):

(a)delete “calendar” (1st occurrence) and insert:

CPD

(b)delete paragraph (a)(i) and insert:

(i)the licensee’s licence is granted between 1 January and 31 March of the CPD year;

(c)in paragraph (a)(ii) delete “completed” and insert:

completes

(d)in paragraph (b)(i) delete “calendar” and insert:

CPD

(3)Delete regulation 4B(3) and insert:

(3)If a person becomes a licensee between 1 June and 31 December in a CPD year —

Table

Month in which person becomes a licensee	Combined point value
June or July	4
August or September	3
October or November	2
December	1

33.Regulation 4C amended

(1)In regulation 4C(1) delete “calendar” and insert:

CPD

(2)In regulation 4C(2):

(a)in paragraph (a) delete “calendar” and insert:

CPD

(b)in paragraph (c) delete “otherwise”.

(3)Delete regulation 4C(3).

(4)In regulation 4C(4):

(a)delete “Without limiting subregulation (3), the” and insert:

The

(b)delete “calendar” and insert:

CPD

34.Regulations 4D and 4E replaced

Delete regulations 4D and 4E and insert:

4D.CPD points

(1)A licensee earns 1 point for each hour of a CPD activity that the licensee completes.

(2)A point is earned in relation to a CPD subject or a mandatory CPD topic if the CPD activity for which the point is earned relates to the subject or topic.

35.Regulation 4F inserted

After regulation 4E insert:

4F.Approval of CPD providers

(1)A person may apply, in the approved form, to the Commissioner for approval to provide CPD activities.

(2)The Commissioner may, by written notice given to the applicant —

(a)grant the approval; or

(b)refuse to grant the approval.

(4)A notice given under subregulation (2)(a) of a decision to grant an approval must specify the period during which the approval has effect (which must not be more than 3 years).

(5)A notice given under subregulation (2)(b) of a decision to refuse to grant an approval must include the reasons for the decision.

(6)The Commissioner must publish a list of approved CPD providers on the Commissioner’s website.

36.Regulations 4G to 4K inserted

After regulation 4F insert:

4G.Approval of CPD topics

(1)The Commissioner must, by written notice, approve a list of CPD topics for licensees.

(2)A topic may be approved under subregulation (1) if the Commissioner considers that —

(a)the topic relates to a CPD subject; and

(b)the topic is relevant to a licensee’s work as a licensee; and

(c)the completion of an educational activity dealing with the topic would extend a licensee’s knowledge and skills in an area relevant to the licensee’s legal or professional obligations, professional skills or business needs.

(3)The notice under subregulation (1) must —

(a)specify the CPD subject to which each approved CPD topic relates; and

(b)be published on the Commissioner’s website.

4H.Mandatory CPD topic for CPD year

(1)The Commissioner may, by written notice, specify that an approved CPD topic is a mandatory CPD topic for a CPD year for —

(a)licensees generally; or

(b)a specified class of licensees.

(2)An approved CPD topic may be specified as a mandatory CPD topic under subregulation (1) if the Commissioner considers that it is necessary or desirable for licensees, or licensees of the specified class, to extend their knowledge or skills in relation to the topic, including because there have been —

(a)legislative or regulatory changes relevant to the topic; or

(b)industry developments relevant to the topic; or

(c)instances of non‑compliance or suspected non‑compliance in connection with the topic.

(3)The notice under subregulation (1) must —

(a)specify the number of CPD points required to be earned in relation to the mandatory CPD topic; and

(b)be published on the Commissioner’s website before the beginning of the CPD year to which it relates.

4I.CPD content

An educational activity meets the requirements of this regulation if it —

(a)is an activity of significant intellectual or practical content; and

(b)deals primarily with matters relating to a licensee’s work as a licensee; and

(c)extends a licensee’s knowledge and skills in areas that are relevant to the licensee’s legal or professional obligations, professional skills or business needs.

4J.CPD records: providers

(1)This regulation applies if a licensee completes a CPD activity.

(2)The approved CPD provider in relation to the activity must give the licensee a record that confirms the licensee has completed the activity.

(3)The record must be provided within 14 days after the day on which the licensee completes the activity.

(4)The approved CPD provider must keep a copy of the record given under subregulation (2) for a period of 4 years from the day on which the licensee completes the activity.

(5)The Commissioner may, by written notice, require an approved CPD provider to produce a copy of the record kept under subregulation (4).

4K.CPD records: licensees

(1)A licensee must keep evidence demonstrating compliance with the educational requirements applicable to the licensee under section 41B of the Act, including any record given to the licensee under regulation 4J(2).

Penalty for this subregulation: a fine of $1 000.

(2)The licensee must keep the evidence referred to in subregulation (1) for a period of 4 years after the last day of the CPD year to which the evidence relates.

(3)The Commissioner may, by written notice, require a licensee to produce, in the approved manner, the evidence required to be kept under this regulation.

(4)The licensee must produce the evidence unless the licensee has a reasonable excuse for not producing it.

Penalty for this subregulation: a fine of $1 000.

37.Part 4 heading inserted

Before regulation 6 insert:

Part 4 — Licensing of settlement agents

38.Part 5 heading inserted

After regulation 6 insert:

Part 5 — General controls

39.Part 6 heading inserted

After regulation 6AA insert:

Part 6 — Trust accounts

40.Regulation 6F amended

(1)Before regulation 6F(1) insert:

(1A)In this regulation —

money record means a record under section 50(1)(b) of the Act.

(2)In regulation 6F(1) delete “record shall be — ” and insert:

money record must be —

(3)In regulation 6F(2) delete “record shall” and insert:

money record must

(4)In regulation 6F(3):

(a)delete “record shall” and insert:

money record must

(b)delete ““record”.” and insert:

“money record”.

41.Part 7 heading inserted

After regulation 6F insert:

Part 7 — Miscellaneous

42.Regulation 15 amended

Delete regulation 15(2B) and insert:

(2B)The offences specified in Schedule 5 Part 3 are offences for which an infringement notice may be issued under the Criminal Procedure Act 2004 Part 2.

43.Part 8 heading inserted

After regulation 16 insert:

Part 8 — Transitional provisions

44.Regulation 19 inserted

After regulation 18 insert:

19.Transitional regulation for Commerce Regulations Amendment (Real Estate, Business and Settlement Agents) Regulations 2025

(1)In this regulation —

commencement day means 1 January 2026.

(2)If a licensee completes a CPD activity in the period beginning on commencement day and ending on 31 March 2026, the activity is counted towards the educational requirements applicable to the licensee under section 41B of the Act for the CPD year beginning on 1 April 2026.

(3)The reference in regulation 4F(1) to CPD activities is, before commencement day, a reference to that term as defined in regulation 2 as it will be in force on commencement day.

(4)The reference in regulation 4F(3) to regulation 4I is, before commencement day, a reference to that regulation as it will be in force on commencement day.

45.Schedule 1A deleted

Delete Schedule 1A.

46.Schedule 5 amended

Delete Schedule 5 Part 3 and insert:

Part 3 — Other offences

Provision of the Settlement Agents Act 1981	Modified Penalty
s. 41B	$1 000
Provision of the Settlement Agents Regulations 1982	Modified Penalty
r. 4K(1)	$200
r. 4K(4)	$200

47.Schedule 6 amended

In Schedule 6 Forms 1 and 2 delete “Mines,” (each occurrence) and insert:

Local Government,

K. COLLERAN, Clerk of the Executive Council

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