(1)  In this regulation and Schedule 1  –

GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth;

required date , in relation to a fee required to be paid by a person, means –

(a) the date on which the name of the person was entered into the Register; or

(b) the anniversary of that date.

(2)  The fees specified in this regulation and Schedule 1 are GST exclusive.

(3)  The fees specified in Schedule 1 are prescribed as the fees payable in respect of the matters to which they respectively relate.

(4)  If a real estate agent named in Part 1, Division (1) of the Register, or a property manager named in Part 2, Division (1) of the Register, is found to have paid less than the annual registration fee required to be paid, he or she must pay to the Board an amount that is twice the difference between the amount paid and the amount required to be paid.