Settlement industry bulletin issue 42 - Fee deregulation consultation closing (July 2014)
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9 July 2014: Fee deregulation consultation closing – End of Consultation Period Approaching
Please note: The consultation period has now closed.
In May 2014 the Commissioner for Consumer Protection, Anne Driscoll, released a position paper proposing that government deregulate the fees charged by settlement agents and land valuers.
Settlement agents are reminded that the three-month consultation period for the discussion paper closes on Thursday, 31 July 2014.
The consultation period provides peak organisations, licensed settlement agents and consumers with an opportunity to comment on the proposal to deregulate fees.
Currently, Western Australia is the only Australian state or territory to fix a maximum amount that settlement agents can charge for their services. The fees are fixed under the maximum remuneration provisions of the Settlement Agents Act 1981.
Please note that there is no specific format for submissions and participants are welcome to respond by way of a letter outlining general views or in a more detailed presentation addressing particular issues identified within the paper.
The discussion paper can be read online on the Department of Commerce website.
Participants may also choose to make a submission by responding to a short survey which is attached to the end of the position paper. The survey is also available online via the Department of Commerce.
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