Authority Updates - South Australia

Verification of Identity Requirements v3 and Verification of Authority Guidelines

Version 3 of the Verification of Identity Requirements has been published.

Verification of Identity Requirements Version 3 

Version 3 of the Verification of Identity Requirements has been published. This version will come into force with the commencement of the Real Property (Electronic Conveyancing) Amendment Bill 2016. 

This version aligns with the changes to be introduced within the Bill, which include the use of Client Authorisations and a broader scope of transactions. 

Verification of Authority Guidelines 

Upon commencement of the Bill, legal practitioners and conveyancers will be required to verify their clients' authority to be a party to the instruments authorised by or under a Client Authorisation. 

The Registrar-General's Verification of Authority Guidelines complement the Verification of Identity Requirements.

Prudent conveyancing practice generally entails these two verification procedures being conducted at the same time. 
Verifying parties' authority mitigates the risk of a fraudulent transaction and gives the other parties involved confidence that the person they are dealing with has the authority to enter into the transaction. 

They will apply to paper transactions, and are consistent with the Verification of Authority (Right to Deal) rules introduced through South Australia's Participation Rules for Electronic Conveyancing. 

The date that both the Verification of Identity Version 3 and Verification of Authority Guidelines will come into effect once the commencement date of the Bill is known.

Read more of South Australia Authority Updates

Disclaimer: The information herein has been prepared by SAI Global Property Division Pty Ltd  ACN 089 586 872 from information released by the Authority cited on this page. It is provided as general background information only; it is not complete; and it does not comprehensively address this subject matter. Readers should not consider the information so provided as advice nor as a recommendation to take any particular course of action. Persons needing advice should consult their own solicitor, accountant or other professional adviser.