20 April 2016

The review of the Settlement Agents Code of Conduct under the Settlement Agents Act 1981 is in its final stages. Consumer Protection would like your feedback on the revised code.

In preparing the new code, Consumer Protection has taken into account feedback provided by the industry during the review in 2013 and from ongoing consultation with the Australian Institute of Conveyancers (AICWA).

The key purpose of the changes is to, where appropriate, bring the code into line with the other property industry codes being the Code of Conduct for Agents and Sales Representatives and the Licensed Valuers Code of Conduct as well as the Australian Consumer Law.

The formatting and language of the new code makes it easier to read and understand and there are changes to the obligations on settlement agents in relation to their clients and the transactions that they undertake. 

More information about the changes and the proposed new code are available from the Settlement Agents Code of Conduct consultation page on the Department's website.

Settlement agents interested in providing their comments should do so by Friday 20 May 2016 via email.