Transfer of Land (Fees) Interim Regulations 2015

Authorised by the Chief Parliamentary Counsel i Authorised Version No. 001 Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 Authorised Version as at 19 September 2015 TABLE OF PROVISIONS Regulation Page 1 Objective 1 2 Authorising provisions 1 3 Commencement 1 4 Revocation 1 5 Definitions 1 6 Categories of search services 2 7 Fees, charges, expenses and other amounts 3 8 Fee for safe custody 3 9 Expiry 3 Schedule 1—Regulations revoked 4 Schedule 2—Specific fees and amounts 5 Schedule 3—Miscellaneous fees and amounts 18 ═══════════════ Endnotes 19 1 General information 19 2 Table of Amendments 21 3 Amendments Not in Operation 22 4 Explanatory details 23 Authorised by the Chief Parliamentary Counsel 1 Authorised Version No. 001 Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 Authorised Version as at 19 September 2015 1 Objective The objective of these Regulations is to prescribe fees, charges, expenses and other amounts payable under the Transfer of Land Act 1958. 2 Authorising provisions These Regulations are made under sections 120 and 121 of the Transfer of Land Act 1958. 3 Commencement These Regulations come into operation on 19 September 2015. 4 Revocation The Regulations in Schedule 1 are revoked. 5 Definitions In these Regulations— automated folio means a folio of the Register that is not a manual folio within the meaning of section 4 of the Act; search service means access to the land registration records of the Office of Titles; the Act means the Transfer of Land Act 1958. Authorised by the Chief Parliamentary Counsel Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 2 6 Categories of search services (1) For the purposes of these Regulations, a search service may be a Category 1, Category 2, Category 3, Category 4 or Category 5 search service. (2) A search service is a Category 1 search service if the search service is ordered through and supplied by on-line computer access to a person to whom the State has issued a licence to supply land registration information to the public. (3) A search service is a Category 2 search service if the search service is ordered from and supplied by the staff of the Office of Titles to a person who attends personally at the Office of Titles. (4) A search service is a Category 3 search service if— (a) the search service is ordered by and supplied to a person who has entered into an agreement with the State for the provision of on-line computer access to the land registration records of the Office of Titles; and (b) that agreement provides, among other things, for a minimum level of use of that on-line computer access; and (c) that person attends personally at the Office of Titles to gain that access; and (d) that access is gained without the assistance of the staff of the Office of Titles. (5) A search service is a Category 4 search service if the search service is ordered by and supplied to a person by the Office of Titles using Internet access without the attendance of the person at the Office of Titles. Authorised by the Chief Parliamentary Counsel Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 3 (6) A search service is a Category 5 search service if the search service is ordered by and supplied to a person who has entered into an agreement with the State for the provision of on-line access to the land registration records of the Office of Titles for the purpose of creating an electronic instrument for lodgment in the electronic lodgement network. 7 Fees, charges, expenses and other amounts There are payable to the Registrar the fees and other amounts as set out in Schedules 2 and 3. 8 Fee for safe custody (1) There is payable to the Registrar a fee of $10.00 for each certificate of title, duplicate instrument or other document which has been left to be kept in safe custody with the Registrar to be used by a third party for the lodgment and registration of a subsequent instrument, application or other document. (2) The fee is payable to the Registrar by the third party when the third party lodges the subsequent instrument, application or other document. 9 Expiry These Regulations expire on 18 September 2016. Authorised by the Chief Parliamentary Counsel Schedule 1—Regulations revoked Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 4 Schedule 1—Regulations revoked Regulation 4 S.R. No. Title 118/2004 Transfer of Land (Fees) Regulations 2004 163/2005 Transfer of Land (Fees) (Amendment) Regulations 2005 66/2006 Transfer of Land (Fees) (Amendment) Regulations 2006 67/2006 Transfer of Land (Fees) (Further Amendment) Regulations 2006 66/2007 Transfer of Land (Fees) (Amendment) Regulations 2007 108/2007 Transfer of Land (Fees) (Further Amendment) Regulations 2007 56/2008 Transfer of Land (Fees) Amendment Regulations 2008 62/2009 Transfer of Land (Fees) Amendment Regulations 2009 34/2010 Transfer of Land (Fees) Amendment Regulations 2010 35/2011 Transfer of Land (Fees) Amendment Regulations 2011 33/2012 Transfer of Land (Fees) Amendment Regulations 2012 54/2013 Transfer of Land (Fees) Amendment Regulations 2013 44/2014 Transfer of Land (Fees) Amendment Regulations 2014 36/2015 Transfer of Land (Fees) Amendment Regulations 2015 Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 5 Schedule 2—Specific fees and amounts Regulation 7 Item Section of Act Fees and amounts 1 14 Application to bring land under the operation of the Act based on deeds (Application (non-survey) conversion scheme) 8·80 fee units 2 15 Application to bring land under the operation of the Act based on survey (Application (survey) conversion scheme) 8·80 fee units 3 22 Lodgment of a specified dealing (other than a transfer of the fee simple estate) 8·80 fee units 4 22 Lodgment of a specified dealing being a transfer of the fee simple estate The sum of 8·80 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 8·80 fee units plus $1230 5 23 Application to bring land under the operation of the Act by the creation of a provisional folio 8·80 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 6 Item Section of Act Fees and amounts 6 26D Application for giving of notice for the deletion of a warning under Part V of the Fifth Schedule to the Act 11·73 fee units 7 26F Notice claiming an interest in an identified folio 4·40 fee units 8 26N Application for the giving of notice for the deletion of a recording from an identified folio 11·73 fee units 9 26P Application to remove warning relating to title dimensions from a provisional folio 39·10 fee units 10 26R Lodgment of caveat against creation of folio or removal of warning or withdrawal of such caveat 4·40 fee units 11 27C One of the following search service categories resulting in a statement of the record of dealings in respect of a folio of the Register— Category 1 $6.45 Category 2 $10.95 Category 3 $7.12 Category 4 (Folio history search) $9.58 12 27D(1) A certified copy of a search of an automated folio of the Register 2·39 fee units 13 27G(3) One of the following search service categories resulting in a reproduction of a document that defines the boundaries of land by way of graphical and textual information— Category 1 $2.50 Category 2 $7.50 Category 3 $4.28 Category 4 (Plan search) $6.45 Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 7 Item Section of Act Fees and amounts 14 27G(7) A certified copy of a reproduction of a document that defines the boundaries of land by way of graphical and textual information (Certified plan search) 1·64 fee units 15 31 Application to produce new certificate of title to replace a certificate of title lost, destroyed or obliterated 17·60 fee units plus for each additional certificate of title 1·96 fee units 16 32 Application to produce new folio of the Register 8·80 fee units plus for each additional folio of the Register 1·96 fee units 17 37 Deposit of documents declaratory of trusts 4·40 fee units 18 38 Application for order to deal with folios of the Register recorded "no survivorship" 17·60 fee units 19 45 Transfer on sale (other than a transfer on sale of one or more mortgages to or by an authorised deposit-taking institution under the Banking Act 1959 of the Commonwealth)— (a) in the case of a lodgment of a paper instrument; The sum of 10·21 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 8 Item Section of Act Fees and amounts dollar, the total fee not to exceed the sum of 10·21 fee units plus $1230 (b) in the case of a lodgment of an electronic instrument. The sum of 8·44 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 8·44 fee units plus $1230 20 45 Transfer on sale of one or more mortgages, to or by an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 5·81 fee units 4·04 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 9 Item Section of Act Fees and amounts 21 45 Transfer other than a transfer on sale, excluding the creation or surrender of an easement— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 10·21 fee units 8·44 fee units 22 45 Creation or surrender of easement in which the consideration is monetary The sum of 43·99 fee units plus $2.46 for every whole $1000 of the monetary consideration (or if there is more than one consideration, the highest one), that sum being rounded up if necessary to the next higher whole dollar, the total fee not to exceed the sum of 43·99 fee units plus $870 23 45 Creation or surrender of easement in which the consideration is non-monetary 43·99 fee units 24 47 Application for vesting order in case of completed purchase 17·60 fee units 25 49 Transmission application by personal representative— (a) in the case of a lodgment of a paper instrument; 7·28 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 10 Item Section of Act Fees and amounts (b) in the case of a lodgment of an electronic instrument. 5·51 fee units 26 50 Survivorship application by joint proprietor— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 7·28 fee units 5·51 fee units 27 51 Transmission application by trustee of bankrupt 5·87 fee units 28 52(2) and 52(7) Application for recording of a judgment, decree, order or process of execution of the High Court of Australia or of the Supreme Court or County Court 11·73 fee units 29 52(6) Application for recording of satisfaction of any such judgment, decree, order or process of execution 8·80 fee units 30 54 Application by acquiring authority for issue of certificate of title in respect of lands vested in that authority 8·80 fee units 31 57 Notification of intention to acquire land compulsorily or of withdrawal of the notice of the acquisition 4·40 fee units 32 58 Application by trustee for making a recording of vesting order 17·60 fee units 33 59 Application for recording of a disposition 17·60 fee units 34 60 Application for a vesting order by person claiming title by possession supported by a survey required by the Registrar under section 60 of the Act 78·20 fee units 35 60 Application for vesting order by person claiming title by adverse possession for which a survey is not required by the Registrar 58·65 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 11 Item Section of Act Fees and amounts 36 61 Caveat forbidding granting of application for vesting order under section 60 or withdrawal of such a caveat 4·40 fee units 37 66 Application to register lease 8·80 fee units 38 68 Application for recording of disclaimer of lease by trustee in bankruptcy 4·40 fee units 39 69 Application for recording of surrender of lease 4·40 fee units 40 70 Application for recording recovery of possession by legal proceedings or re-entry by lessor or abandonment by lessee 23·46 fee units 41 71 Application for recording of sub-lease 4·40 fee units 42 72(2) Application for recording of an easement 43·99 fee units 43 73(1) Application for deletion of an easement from the Register 43·99 fee units 44 73(1B) Application for declaration that easement has been abandoned or extinguished 43·99 fee units 45 73(4) Caveat forbidding the deletion of an easement from the Register, or withdrawal of such a caveat 4·40 fee units 46 74 Application to register mortgage or charge— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 8·38 fee units 6·62 fee units 47 75A Application to register variation of mortgage or charge— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 5·81 fee units 4·04 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 12 Item Section of Act Fees and amounts 48 75B(3) Application to register variation of priority of mortgage or charge— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 10·21 fee units 8·44 fee units 49 79 Application for order for foreclosure 43·99 fee units 50 84(1) Application for recording of discharge of mortgage or annuity wholly or partially— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 8·38 fee units 6·62 fee units 51 84(2) Application by mortgagor for recording of discharge of mortgage on proof of payment 17·60 fee units 52 84(3) Application for recording of satisfaction of annuity— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 10·21 fee units 8·44 fee units 53 84(4) Application for recording of discharge of mortgage or charge, wholly or partially— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 8·38 fee units 6·62 fee units 54 85(1) Application for recording of discharge of land from mortgage on production of receipt of Treasurer 4·40 fee units 55 88(1) Application to record, amend or delete a recording of a restrictive covenant 11·73 fee units 56 88(2) Application for recording of notification of easement 43·99 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 13 Item Section of Act Fees and amounts 57 88(2) Application for recording of notification other than of an easement 8·80 fee units 58 89 Application for recording of caveat forbidding dealings with land, or withdrawal of such a caveat wholly or in part— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 5·81 fee units 4·04 fee units 59 89A Application for service of a notice—for each caveat affected— (a) in the case of a lodgment of a paper instrument; (b) in the case of a lodgment of an electronic instrument. 13·14 fee units 11·37 fee units 60 91A Lodgment of a memorandum of common provisions 4·40 fee units 61 98A(2) Application for inclusion of certificate of shares or other like interests in stratum estate 4·40 fee units 62 98C(1) Lodgment of service agreement for registration in respect of stratum estate 4·40 fee units 63 98C(2) Application to register a cancellation or variation of service agreement in respect of stratum estate 4·40 fee units 64 98CA Application for cancellation and registration of a plan if the applicant is a service company 8·80 fee units plus for each lot in excess of 2 comprised in the plan of subdivision 4·89 fee units 65 98CA Application for cancellation and registration of a plan if the applicant is not a service company but a service company operates 8·80 fee units plus for each lot in excess of 2 comprised in the plan of subdivision 4·89 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 14 Item Section of Act Fees and amounts 66 98CA Application for cancellation and registration of a plan if no service company operates 8·80 fee units plus for each lot in excess of 2 comprised in the plan of subdivision 4·89 fee units 67 99 Application to amend a folio of the Register whether a new certificate of title is issued or not 39·10 fee units 68 100 Caveat forbidding granting of an application under item 67 or withdrawal of such a caveat 4·40 fee units 69 103(2) Application to amend a folio of the Register as to description of land supported by a survey required by the Registrar under section 95(1) of the Act 39·10 fee units 70 103(2) Application to amend a folio of the Register as to description of land for which a survey is not required by the Registrar 19·55 fee units 71 103(2) Application to amend a folio of the Register otherwise than as to description of land 8·80 fee units 72 103(2) Application to amend a plan of subdivision—for each plan so amended 8·80 fee units 73 104(5) Application to Registrar to dispense with the submission of a certificate of title or any instrument 4·40 fee units 74 106(1)(c) Application for recording on folio of the Register that the folio is no longer affected by an encumbrance other than easement 4·40 fee units 75 106(1)(c) Application for recording on folio of the Register that the folio is no longer affected by an easement 43·99 fee units 76 113(5) Application to amend or alter address in the Register 4·40 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 15 Item Section of Act Fees and amounts 77 113(6) Application by a caveator to amend or alter address for service 4·40 fee units 78 113(6A) Application by person who lodged a notice under section 26F of the Act to amend or alter address for service 4·40 fee units 79 114(1) One of the following search services resulting in— 1. A statement of subsisting information which identifies the registered proprietor of the land and identifies the documents on which are recorded any— (a) notices and encumbrances affecting the land; and (b) graphical information defining the boundaries of the land. 2. A reproduction of the document that defines the boundaries of the land by way of graphical and textual information— Category 1 $7.86 Category 2 1·32 fee units Category 3 $10.30 Category 4 (Folio search) 1·26 fee units 80 114(1) One of the following search services resulting in a statement of subsisting information which identifies the registered proprietor of the land and identifies the documents on which are recorded any notices and encumbrances affecting the land for the purpose of creating an electronic instrument for lodgment in the electronic lodgement network— (a) Category 1; (b) Category 5. $7.81 $10.30 Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 16 Item Section of Act Fees and amounts 81 114(1) One of the following search services resulting in a reproduction of any registered instrument— Category 1 $2.50 Category 2 $6.90 Category 3 $3.12 Category 4 (Instrument search) $6.45 82 114(1) One of the following search services resulting in a statement of dealings lodged for registration or recording within not less than 105 days prior to the use of the search service— Category 1 $1.90 Category 2 $8.95 Category 3 $2.59 Category 4 (Final search) $6.97 83 114(2) Certified reproduction of any manual folio of the Register 3·36 fee units 84 114(2) Certified reproduction of any registered instrument 2·56 fee units 85 116(1) Application for statement of grounds of refusal by Registrar to grant any application 43·99 fee units 86 121(2)(c) Licence to print and sell an approved form bearing the seal of the Office of Titles 8·80 fee units 87 121(4) Licence to print and sell an approved form prepared by a person with the object of selling it for use by other persons 8·80 fee units 88 121(7) Approval of a form for use by a person and authority to print sealed copies for use by that person 4·40 fee units Authorised by the Chief Parliamentary Counsel Schedule 2—Specific fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 17 Item Section of Act Fees and amounts 89 121(10) Registration or granting of an instrument or application containing departures otherwise than in matters of substance from an approved form 4·40 fee units Authorised by the Chief Parliamentary Counsel Schedule 3—Miscellaneous fees and amounts Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 18 Schedule 3—Miscellaneous fees and amounts Regulation 7 Item Section of Act Fees and amounts 1 120(2) On every application, instrument or document sent by post or left for lodgment at the Office of Titles under cover and accepted by the Registrar for lodgment—additional fee of $5.00 2 120(2) Any other instrument or application for which a fee is not specified in these Regulations or in any other Act 8·80 fee units 3 120(2) In addition to any specific fee (other than specific fees under items 17, 36, 45, 59 60, 68, 72, 73, 77, 78, 85, 86, 87, 88 and 89 of Schedule 2) or any fee applicable to items 2 and 4 of this Schedule, an additional fee will apply if more than 5 folios of the Register are affected. However, if the specific fee provides for the payment of additional amounts related to the number of folios affected, the fee under this item will not apply. For each additional folio affected $10.00 4 120(2) For creating a folio of the Register and for issue of a certificate of title arising out of amendment under section 207E of the Local Government Act 1989 8·80 fee units 5 120(2) On every electronic instrument lodged— additional amount of $2.00 ═══════════════ Authorised by the Chief Parliamentary Counsel Endnotes Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 19 Endnotes 1 General information See www.legislation.vic.gov.au for Victorian Bills, Acts and current authorised versions of legislation and up-to-date legislative information. The Transfer of Land (Fees) Interim Regulations 2015, S.R. No. 104/2015 were made on 15 September 2015 by the Governor in Council under sections 120 and 121 of the Transfer of Land Act 1958, No. 6399/1958 and came into operation on 19 September 2015: regulation 3. The Transfer of Land (Fees) Interim Regulations 2015 will expire on 18 September 2016: see regulation 9. INTERPRETATION OF LEGISLATION ACT 1984 (ILA) Style changes Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act. References to ILA s. 39B Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided regulation, rule or clause of a Schedule is amended by the insertion of one or more subregulations, subrules or subclauses the original regulation, rule or clause becomes subregulation, subrule or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original regulation, rule or clause. Interpretation As from 1 January 2001, amendments to section 36 of the ILA have the following effects: • Headings All headings included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule. Any heading inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule. This includes headings to Parts, Divisions or Subdivisions in a Schedule; Orders; Parts into which an Order is divided; clauses; regulations; rules; items; tables; columns; examples; diagrams; notes or forms. See section 36(1A)(2A)(2B). • Examples, diagrams or notes All examples, diagrams or notes included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule. Any examples, diagrams or notes inserted in a Statutory Rule which was made before http://www.legislation.vic.gov.au/ Authorised by the Chief Parliamentary Counsel Endnotes Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 20 1 January 2001, by a Statutory Rule made on or after 1 January 2001, form part of that Statutory Rule. See section 36(3A). • Punctuation All punctuation included in a Statutory Rule which is made on or after 1 January 2001 forms part of that Statutory Rule. Any punctuation inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule. See section 36(3B). • Provision numbers All provision numbers included in a Statutory Rule form part of that Statutory Rule, whether inserted in the Statutory Rule before, on or after 1 January 2001. Provision numbers include regulation numbers, rule numbers, subregulation numbers, subrule numbers, paragraphs and subparagraphs. See section 36(3C). • Location of "legislative items" A "legislative item" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of a Statutory Rule is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B. • Other material Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of a Statutory Rule. See section 36(3)(3D)(3E). Authorised by the Chief Parliamentary Counsel Endnotes Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 21 2 Table of Amendments There are no amendments made to the Transfer of Land (Fees) Interim Regulations 2015 by statutory rules, subordinate instruments and Acts. Authorised by the Chief Parliamentary Counsel Endnotes Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 22 3 Amendments Not in Operation There are no amendments which were Not in Operation at the date of this publication. Authorised by the Chief Parliamentary Counsel Endnotes Transfer of Land (Fees) Interim Regulations 2015 S.R. No. 104/2015 23 4 Explanatory details Fee Units These Regulations provide for fees by reference to fee units within the meaning of the Monetary Units Act 2004. The amount of the fee is to be calculated, in accordance with section 7 of that Act, by multiplying the number of fee units applicable by the value of a fee unit. The value of a fee unit for the financial year commencing 1 July 2015 is $13.60. The amount of the calculated fee may be rounded to the nearest 10 cents. The value of a fee unit for future financial years is to be fixed by the Treasurer under section 5 of the Monetary Units Act 2004. The value of a fee unit for a financial year must be published in the Government Gazette and a Victorian newspaper before 1 June in the preceding financial year.