Payment of Land Transfer Tax and Registration Fees

What is the electronic registration bank account (ERBA)?

The Teraview licence terms and conditions ("the Teraview agreement") require an account holder to designate an account from which Teranet is authorized to withdraw registration fees and land transfer tax. The Teraview agreement refers to this account as "the electronic registration bank account"or "ERBA".

The Teraview agreement provides that the submission of instructions for registration of documents is deemed to be an authorization to Teranet to debit predetermined sums representing registration fees and land transfer tax from the electronic registration bank account.

What are the Law Society requirements with respect to setting up an electronic registration bank account?

Please refer to By-Law 9 and the Payment of Registration Fees and Land Transfer Tax article

Can I designate my existing mixed trust account as my electronic registration bank account?

No. However, a licensee can set up and designate a special trust account as the licensee's electronic registration bank account. For further information on the special trust account, please refer to By-Law 9     
and the Payment of Registration Fees and Land Transfer Tax article

I have designated a special trust account as my electronic registration bank account. When may I share this trust account with other lawyers?

By-Law 9 provides that every licensee who receives money in trust for a client shall immediately pay the money into a trust account "in the name of the licensee, or in the name of the firm of licensees of which the licensee is a partner or by which the licensee is employed."

Lawyers who are partners or who are in an employer/employee relationship may share the same trust account. Lawyers who practice "in association" and who are not practising in the same manner as employed lawyers cannot share the same trust account.

By-Law 9
Practice Guideline 1 - Maintaining Integrity of Access and Accounts   

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