endobj . WebProperty and Stock Agents Act 2002 2. overdrawn, Interest earned on trust accounts to be paid to Statutory Maximum penalty100 penalty units or imprisonment for 6 months, or both. 0000050833 00000 n <> <> }@ 7%`IVt;hzJO3s+]/dB WebProperty, Stock and Business Agents Act 2002 Published LW 29 August 2014 (2014 No 563) Her Excellency the Governor, with the advice of the Executive Council, has made A class 1 licence is required for an individual to be a licensee in charge of a business. endobj :H1hK` Jmz{HH`:qGQD5,-*x4];q\8$t[T4L2sl3 endobj endobj departments and certain statutory bodies, Application of Licensing The Regulation replaces the Property and Stock Agents Regulation 2014, with minor changes. Long title. 0000000016 00000 n 12 0 obj [+ JI=LKBK9 GwFPMv2E)oJO|#X[4 o5:tH{ >HG=9~IG1aR/u`d7 f4}8,Y0p!6Y24~ WARNING: The term immediately above provides that a commission is payable under this agreement even if the sale of the property is not completed. 35 0 obj 31 0 obj <> }mlMR`Je}! Swes6EvnC NUX]j33Z}uFC`ByxejfM;C N9pR8Ry1x]cDM LnPKRKxKMQg{/lUY.@>l*ZL-N7 6@e{GsU:X#dpPdd7cit7T49(?0!Nc l>4I}R{hs\qs~w. estate agents may exercise, Functions that stock and station agents and assistant You are using a version of the website built for webcrawlers and people whose devices cannot use javascript. (2) This clause does not apply to a sale De facto partner is defined in section 21C of the. provisions, Advertisements to include information about licensee. stronger disclosure requirements for vendor and buyer agents when accepting expression of interest deposits. q,q/lds%B=cbhI and others, Employees and others required to notify 0000137278 00000 n direction, Account not to be operated unless Secretary associate, Recovery of compensation for disposal of receivable +-9\mpt5K J% /,^!A3de'ub; 8;N 3z8L_M J i_@0)S#@ agents, Duty of licensee not to engage certain persons, Duty of licensee to notify disqualification of employees agents, Duty of disclosure to client and prospective buyer of 20 0 obj agreements, Agency agreement can be rescinded during cooling-off commissions, Prohibition against listing residential or rural land 3 Amendment of Property and Stock Agents Regulation 2014 debts, Licensee to notify trust account becoming Repealed 3 0 obj endobj <> A Bidders Record made by a licensee is one of the licensees records for the purposes of Part 8 (Records) of the Act and is to be kept by the licensee. 77 0 obj Maximum penaltyThe maximum penalty for the corporate offence if committed by an individual. <> 29 0 obj 0000002302 00000 n D F@$kW._C]>|6Xtfy402?O`j mQ04NDd-M}?-(VuSx-B^(?&a>tqHN~!Q9h ] ^M2Lz$sj#Xnw'aIU/S'\XAjI"tj )|jO^p0G)7ubl2v5\aH [tsbCo:wgvpIRYK=-rI@I9UFEf#BDS^ WhQUM@9"A;6/oG~] jVHb@D^6 Zew3(KD%,;/'0uH('59uz.G":}B% hb```i,B VICTOR DOMINELLO, MP Minister for Fair Trading Explanatory note The object of this Regulation is to remake, without substantial changes, the Property and Stock Agents Regulation 2014, which is repealed on 1 September 2022 by the Subordinate Legislation Act 1989, section endobj j9-MRglu/D|gZ;,\VZa2Age IS7s 13 0 obj Acts, Part 12 Complaints and disciplinary action, Power to suspend licence or certificate of registration take reasonable steps to ensure other licensees or registered persons employed endobj gift, favour or benefit, whether monetary or otherwise, in order to induce a l)ky#~jDg"hiz1:j(skn+m0#6d4.K+\1??9TK4=L p[>cB G'B!%NH"4:j^-h; 0P/ 0t oPAr=C~#r1#}Q= 8-dcm.R8h%zdA5 mtjk12b}x+JV3:fBw This means you may have to pay the agent commission even if another agent (or you) sells the property or introduces a buyer who later buys the property. /jke_w|~S <> : Maximum penalty--200 penalty units. received by licensee or registered person, Fraudulent accounts for expenses, commission and other endobj 36 0 obj <> endobj hYOHWG kORD*5EhIL9{s4qBx'ffl-!!4p%4HPR_> 9A?q@tC?8 0000006429 00000 n licensee, Misrepresentation by licensee or registered An agent must comply with the fiduciary obligations <> <> requirements of this Regulation, as required by section 55 of the Act. arising as an agent. is the licensee in charge of a business must ensure that there are separate Any bid made with the dominant purpose of benefiting the seller constitutes a bid made on behalf of the seller. Except as provided by clause 29, Division 3 of Part 5 of the Act (as in force immediately before the commencement of Schedule 1 [2] to the 2015 amending Act) continues to apply in relation to any act, matter or thing done in accordance with an existing agency agreement. 0000003209 00000 n auctions, Division 3 Representations as to selling price, Estimated selling price in agency agreement for sale of Property and Stock Agents Regulation 2014, Functions that real estate agents and assistant real The current Regulation is due to expire on 1 September 2022. evidence, Fraudulent conversion and false accounts of money assistant strata managing agents, Schedule 7 Terms applying to all agency agreements, Schedule 8 Terms specific to agency agreement for sale of <> endstream endobj 1164 0 obj <> endobj 1150 0 obj <> endobj 529 0 obj <> endobj 1151 0 obj [9 0 R] endobj 9 0 obj <>>> endobj 10 0 obj <> endobj 58 0 obj <> endobj 1 0 obj <> endobj 1126 0 obj <> endobj 1123 0 obj <> endobj 1120 0 obj <> endobj 1118 0 obj <> endobj 1114 0 obj <> endobj 1112 0 obj <> endobj 1109 0 obj <> endobj 1107 0 obj <> endobj 1101 0 obj <> endobj 1099 0 obj <> endobj 1093 0 obj <> endobj 1091 0 obj <> endobj 1085 0 obj <> endobj 1083 0 obj <> endobj 1077 0 obj <> endobj 1075 0 obj <> endobj 1068 0 obj <> endobj 1066 0 obj <> endobj 1061 0 obj <> endobj 1059 0 obj <> endobj 1049 0 obj <> endobj 1047 0 obj <> endobj 1042 0 obj <> endobj 1040 0 obj <> endobj 1032 0 obj <> endobj 1030 0 obj <> endobj 1024 0 obj <> endobj 1022 0 obj <> endobj 1016 0 obj <> endobj 1014 0 obj <> endobj 1008 0 obj <> endobj 1006 0 obj <> endobj 1003 0 obj <> endobj 1001 0 obj <> endobj 993 0 obj <> endobj 991 0 obj <> endobj 988 0 obj <> endobj 986 0 obj <> endobj 981 0 obj <> endobj 979 0 obj <> endobj 972 0 obj <> endobj 970 0 obj <> endobj 966 0 obj <> endobj 964 0 obj <> endobj 954 0 obj <> endobj 952 0 obj <> endobj 943 0 obj <> endobj 941 0 obj <> endobj 929 0 obj <> endobj 927 0 obj <> endobj 924 0 obj <> endobj 922 0 obj <> endobj 914 0 obj <> endobj 912 0 obj <> endobj 899 0 obj <> endobj 897 0 obj <> endobj 890 0 obj <> endobj 888 0 obj <> endobj 885 0 obj <> endobj 883 0 obj <> endobj 875 0 obj <> endobj 873 0 obj <> endobj 865 0 obj <> endobj 863 0 obj <> endobj 853 0 obj <> endobj 851 0 obj <> endobj 848 0 obj <> endobj 846 0 obj <> endobj 838 0 obj <> endobj 833 0 obj <> endobj 825 0 obj <> endobj 819 0 obj <> endobj 810 0 obj <> endobj 807 0 obj <> endobj 802 0 obj <> endobj 800 0 obj <> endobj 787 0 obj <> endobj 785 0 obj <> endobj 770 0 obj <> endobj 768 0 obj <> endobj 753 0 obj <> endobj 751 0 obj <> endobj 738 0 obj <> endobj 736 0 obj <> endobj 731 0 obj <> endobj 729 0 obj <> endobj 722 0 obj <> endobj 720 0 obj <> endobj 709 0 obj <> endobj 707 0 obj <> endobj 691 0 obj <> endobj 689 0 obj <> endobj 684 0 obj <> endobj 682 0 obj <> endobj 675 0 obj <> endobj 673 0 obj <> endobj 658 0 obj <> endobj 656 0 obj <> endobj 645 0 obj <> endobj 643 0 obj <> endobj 635 0 obj <> endobj 633 0 obj <> endobj 626 0 obj <> endobj 624 0 obj <> endobj 615 0 obj <> endobj 613 0 obj <> endobj 602 0 obj <> endobj 600 0 obj <> endobj 585 0 obj <> endobj 583 0 obj <> endobj 579 0 obj <> endobj 577 0 obj <> endobj 568 0 obj <> endobj 566 0 obj <> endobj 559 0 obj <> endobj 557 0 obj <> endobj 545 0 obj <> endobj 543 0 obj <> endobj 533 0 obj <> endobj 531 0 obj <> endobj 520 0 obj <> endobj 518 0 obj <> endobj 504 0 obj <> endobj 502 0 obj <> endobj 497 0 obj <> endobj 495 0 obj <> endobj 485 0 obj <> endobj 480 0 obj <> endobj 462 0 obj <> endobj 457 0 obj <> endobj 440 0 obj <> endobj 434 0 obj <> endobj 428 0 obj <> endobj 404 0 obj <> endobj 398 0 obj <> endobj 248 0 obj <> endobj 242 0 obj <> endobj 76 0 obj <> endobj 246 0 obj <>stream endobj 17 0 obj <> dpU5\CDZrx:QxrPaBy4by#B@qb:6"z4> ;[e3+-Q'`x9;Jb /u`}Yp78_QL="^1M4+'T@!r!O/ licensees accounts, Part 11 Property Services Statutory Interest licensee, Person carrying on business of agent to ensure staff licences, Secretarys power to waive, reduce, postpone or 42 0 obj submission or tendering of the document all material particulars have been (a) any function of an owners corporation, or. This means you may have to pay the agent commission even if another agent (or you) sells the business or introduces a buyer who later buys the business. endobj <> %PDF-1.6 % property, Division 5 Advertisements and representations, Advertisements to include information about in business, Power of authorised officer to obtain information, endobj endobj dealing with a customer, unless--. <> 68 0 obj transactions, Records and book entries to be in English l~_s\Ke S auction sales, Successful bidder at auction to supply land, Restrictions on licensee obtaining beneficial interest in In NSW, licensed real estate, strata managing, assistant, as well as stock and station agents are regulated by the Property and Stock Agents Regulation 2014 and the Property and Stock Agents Act 2002. WebAmendments to the Property, Stock and Business Agents Act 2002, which commenced from 1 July 2013, changed the way licensees fulfil their responsibilities in relation to the auditing of trust accounts. 73 0 obj and consumer protection, anti-discrimination and privacy) as may be necessary 16 0 obj <> endobj 50 0 obj Web72 Definitions. property, Supreme Court may review expenses of <> 67 0 obj The following are examples of relationships for the purposes of subsection (1) (a), The following are examples for the purposes of subsection (1) (c) of persons who may receive a benefit. and certificates, Schedule 1 General rules of conduct applying to all agents conflict with the client's interests. record, Report to be prepared by strata managing agent, Managing agent to permit executive committee to inspect charges, Offences by persons other than principal This Regulation replaces the Property, Stock and Business Agents Regulation 2003 which is repealed on 1 September 2014 by section 10 (2) of the Subordinate Legislation Act 1989. 45 0 obj _qK~KC. <> <> licensees, Appointment of accounts examiner to examine <> institutions, Protection of authorised deposit-taking institutions from !ugH]M&B$ND3;6`[tWn~S*l NR>YUG@0\F/[G5 5 0 obj <> persons, Non-commercial subagency agreements to be in auctioneer of livestock, Contracting out of prescribed terms and conditions of registration, Assistant agents require certificate of of residential property or rural land, Schedule 13 Terms specific to agency agreement for the endobj On the other hand, the property stock and business agents regulation 2014 describes the outline for agents to perform Legislation on this site is usually updated within 3 working days after a change to the legislation. We acknowledge the traditional owners of this land and pay respect to Elders, past, present and emerging. endobj <> <> residential landlords and tenants suffering hardship, Schedule 1 Savings, transitional and other financial institutions, Monthly returns by authorised deposit-taking Maximum penalty for a first offence: In the case of a corporation, 50 penalty units or, in the case of an individual, 20 penalty units. residential property, Underquoting in advertisements for residential The licensee who makes a Bidders Record is responsible for keeping it. 69 0 obj real estate agents, Schedule 3 Rules specific to stock and station agents and 60 0 obj 849 0 obj <>stream 4d+H1$CN=:t.8z m{R}%vcqfroJ9Hfh$wBl%K#s4pEB($_,pF 5;dNc8WxYz^FjBTcz^91S* 2]>fxw7XK4AS6peJ_`u3BAqN~pG$1v(QR}J^T)[=IBqbcn*lG?8F1Mz(QDXaP_S~?KDJrRn'Bo :5[8!7EZ>V zX,yV Property, Stock and Business Agents Act 1941, money received for or on behalf of any person, on-site residential property manager functions, Regulations may exempt persons and activities from Act, Community Housing Providers National Law (NSW), Licences and certificates of registration, Requirement for licence or certificate of registration, Assistant agents require certificate of registration, Functions that can be exercised by holders of licences and certificates of registration, Assistant agents must be employed and supervised by licensee, Person carrying on business of agent to ensure staff exercising regulated functions hold licence or certificate, Production of licence or certificate of registration, Transfer or lending of licence or certificate of registration prohibited, Eligibility, qualifications and disqualification, Eligibility for a licence or certificate of registration, Qualifications for licence or certificate of registration, Licensing and Registration (Uniform Procedures) Act 2002, Application fees and Compensation Fund contributions, Special condition requiring auctioneers to be accredited, Special condition requiring professional indemnity insurance, Fair Trading Legislation Amendment (Reform) Act 2018, Effect of applying for restoration of expired licence, Time period for application for further certificate of registration, General conduct of licensees and registered persons, Holder of class 1 licence to be in charge of business, Duty of licensee and person in charge to properly supervise business, Licensee not to share commission with certain persons, Non-commercial subagency agreements to be in writing, Rules of conduct for licensees business, Undertakings by licensees and registered persons, Industry association to report defalcation, Interpretationpersons engaged by licensees, Liability of licensee for acts of employees, Licensee to keep records of persons employed as assistant agents, Duty of licensee not to engage certain persons, Duty of licensee to notify disqualification of employees and others, Employees and others required to notify disqualification, Financial and investment advice by real estate agents, Duty of disclosure to client and prospective buyer of land, Duty not to act for both buyer and seller of land, Restrictions on licensee obtaining beneficial interest in property, Advertisements to include information about licensee, Misrepresentation by licensee or registered person, Damages for misrepresentation or concealment, Licensees and certificate holders not to receive certain gifts or benefits, Election Funding, Expenditure and Disclosures Act 1981, No entitlement to commission or expenses without agency agreement, Relief from disentitlement to commission and expenses, Approved guide to be provided before agency agreement for residential property signed, Agency agreement must disclose rebates, discounts and commissions, Prohibition against listing residential or rural land subject to sole or exclusive agency, Cooling-off period for residential or rural agency agreements, Agency agreement can be rescinded during cooling-off period, Residential property and rural land sales, Contract for sale of residential property, Proposed contract for sale of residential property, Contracts for sale of residential property, Bidding at auction of residential property or rural land, Bids may only be taken from registered bidders, Details to be established by proof of identity, Approved consumer education guide for bidders at auctions, Estimated selling price in agency agreement for sale of residential property, Underquoting in advertisements for residential property, Underquoting in representations by real estate agents, Real estate agents to keep records of quotes, Requirement to substantiate selling price estimatesresidential property, Marketing statements about vendor bids when property passed in, Restrictions on bidding by or on behalf of seller or auctioneer of livestock, Contracting out of prescribed terms and conditions of auction sales, Successful bidder at auction to supply information, Livestock auctionscomeback prohibited, Payment of trust money into trust account, Trust money to be paid into trust account, Approval of authorised deposit-taking institutions, Trust money not available to pay licensees debts, Licensee to notify trust account becoming overdrawn, Interest earned on trust accounts to be paid to Statutory Interest Account, Responsibilities of authorised deposit-taking financial institutions, Monthly returns by authorised deposit-taking institutions, Protection of authorised deposit-taking institutions from liability, Information about trust accounts or transactions, Person concerned in transaction may request itemised account, Licensee to make and keep certain records, Inspection of records of financial institutions, Power to require production of licensees records, Power to take possession of records to be used as evidence, Additional requirements for strata managing agents, Australian Securities and Investments Commission Act 2001, Secretary may freeze licensees accounts in particular cases, Financial institution must comply with direction, Account not to be operated unless Secretary allows, Crimes (Administration of Sentences) Act 1999, Qualifications for appointment as manager, Acts of manager taken to be acts of licensee, Receivership may extend to property of licensees associate, Recovery of compensation for disposal of receivable property, Receiver taken to be beneficially entitled to property, Supreme Court may review expenses of receivership, Applications for directions by receiver, licensee etc, Supreme Court may give general directions to receiver, Receiver to report to Supreme Court and Secretary, Application of money in Compensation Fund, Residential (Land Lease) Communities Act 2013, Division applies when person reasonably believed to be a licensee, Examination of accounts of licensees and former licensees, Appointment of accounts examiner to examine licensees accounts, Property Services Statutory Interest Account, Money payable to Statutory Interest Account, Application of money in Statutory Interest Account, Property, Stock and Business Agents Act 2002, Application of money for purposes of certain Acts, Civil and Administrative Tribunal Act 2013, residential and social housing matters in the Consumer and Commercial Division of the Tribunal, strata and community scheme matters in the Consumer and Commercial Division of the Tribunal, Power to suspend licence or certificate of registration when show cause notice served, Administrative review of disciplinary action by NCAT, Failure to comply with disqualification from involvement in business, Power of authorised officer to obtain information, records and evidence, Taking possession of records to be used as evidence, Law Enforcement (Powers and Responsibilities) Act 2002, Fraudulent conversion and false accounts of money received by licensee or registered person, Fraudulent accounts for expenses, commission and other charges, Offences by persons other than principal offenders, Liability of directors etc for offences by corporationaccessory to the commission of the offences, Government Information (Public Access) Act 2009, Independent Commission Against Corruption Act 1988, Property, Stock and Business Agents (General) Regulation 1993, Use of Property Services Compensation Fund to assist residential landlords and tenants suffering hardship, Savings, transitional and other provisions, Property, Stock and Business Agents Amendment Act 2006, Property, Stock and Business Agents Amendment Act 2013, Provisions consequent on the enactment of this Act, Licences and certificates of registration under repealed Act, Act extends to acts and omissions before commencement, Continuity of things done before commencement, Collusive practicesincreased penalties, Statute Law (Miscellaneous Provisions) Act 2008, Property, Stock and Business Agents Amendment (Underquoting Prohibition) Act 2015, Estimated selling price in existing agency agreements for the sale of residential property, Property, Stock and Business Agents Amendment (Property Industry Reform) Act 2018, Recovery proceedings for services performed, Existing licences and certificates of registrationconsequences of renaming certain certificates of registration, Existing licences and certificates of registrationconsequences of merger of business agents, on-site residential property managers and real estate agents into single class of real estate agents, Suspension of licence or certificate of registration, Expired or cancelled certificates of registration, Better Regulation and Customer Service Legislation Amendment (Bushfire Relief) Act 2020, Waiver, reduction, postponement or refund of fees before commencement, Power to waive, reduce, postpone or refund fees applies to events before commencement. third person to engage the services of the agent as agent in respect of any (1) In this Division--. 38 Records of purchased livestock to be kept by stock and station agents. An agent must exercise reasonable skill, care and endobj Records can be made and kept on paper or by electronic means. 64 0 obj <> 2 Commencement. offenders, Liability of directors etc for offences by The amount prescribed for the purposes of section If you do not wish to continue with this agreement you can cancel it until 5 pm on the next business day or Saturday. We acknowledge the traditional owners of this land and pay respect to Elders, past, present and emerging. Name of Act 2. An agent must act in the client's best Property, Stock and Business Agents Regulation 2014 Does not include amendments by Licensing and Registration (Uniform Procedures) Amendment Sections 19 (5) and 20 (3) of the Commonwealth Act also provide that an entity does not commit an offence under those sections concerning the inclusion or display of registered business names in written communications and at places of business if the inclusion, use or display of a business name in such a communication or at such a place would be contrary to a law of a State. endobj startxref registration, Division 3 Application and issue procedure, Application of Licensing <> endobj endobj Reasonable steps by an agent would comprise contacting the tenant to discuss suitable times for the inspection, arranging to meet at a particular time and place and proceeding to meet them at the arranged time and place. :>#B! 2RDq( Ht4 BfC;vI}^cz87W=6G#;(/J^ -=CbdLp_Y9It4pGBxI1S"88" k{3- 33WC`/LTOo8l^h\9tr.3C8|>gx"VF03hw- .]3?%!c4.5`lj&Y'tner*P\B-pA@{_.Vj^\lGup5dI'0Uom?c(V*Ov ,pK3w]z:6rmb[@Tb`?`!^DVl \8B>l9o7~^gb\cvyJJ@HFD9XK{'OLuc79Z[ Mv"igI^,TBUTb^C1#P;R J(N'0_m^F_+yrpQs!; 35?/. Under section 22 of the Act it is a condition of a licensees licence that the licensee be insured as required by this clause. 0000001964 00000 n 53F(2)(d) of the Act is $60. Section 46 of the Act provides that a real estate agent who fails to comply with a requirement to provide information or warning specified in the regulations is guilty of an offence. endobj institutions, Power to require production of licensees It is a condition of an on-site residential property managers licence that the licensee may act as an on-site residential property manager only in respect of premises at which the licensees principal place of residence is situated and only if the licensee owns or has a prescribed interest in that principal place of residence. <> maintaining a trust account, Records of trust money to be kept by licensees, Additional requirements for strata managing <> 57 0 obj DP1;P 8px2eR-UEC)PS~b>QDU$|ZkRw>o*>!N#, e=bA |Sza6_=|`@t_SK,oxWM)l.QT}\ 6/FdX^"'*@>?jcNwz %%EOF See "e}2 WebPROPERTY AND STOCK AGENTS REGULATION 2014 - Made under the Property and Stock Agents Act 2002- As at 23 May 2022 - Reg 563 of 2014 TABLE OF Severe penalties may be imposed on persons convicted of dummy bidding. The actual successful bidder at an auction sale must give to the auctioneer or an employee of the auctioneer. be submitted or tendered to any person for signature, must immediately after the person has signed the document give a copy of the document to the person. Property and Stock Agents Act 2002 No 66 Status information Long title Part 1 Preliminary 1 Name of Act 2 Commencement 3 Definitions 3A Real estate agent functions 3B Strata managing agents 4 Regulations may exempt persons and activities from Act 5 Exemptions 6 (Repealed) Part 2 Licences and certificates of registration 71 0 obj 74 0 obj confidential information obtained while acting on behalf of a client or endobj agreement, Schedule 10 Terms specific to agency agreement for sale of Web(a) any statement, representation or promise that is false, misleading or deceptive (whether to the knowledge of the agentor not), or (b) any failure to disclose a material fact of a kind prescribed by the regulations (whether intended or not) that the agentknows or ought reasonably to know. WebProperty, Stock and BusinessAgentsAct 2002. Dated 12 April 2021. We acknowledge the traditional owners of this land and pay respect to Elders, past, present and emerging. We acknowledge the traditional owners of this land and pay respect to Elders, past, present and emerging. endobj <> This definition is not limited to the selling of land and extends to an agent acting on behalf of the buyer of land (a buyers agent). 14 0 obj <> 51 0 obj An Act to provide for the regulation of property, stock and business agents; to repeal the. <> 48 0 obj supervise business, Licensee not to share commission with certain contributions, Special condition requiring auctioneers to be <<383084CEFD68D04F83C14D1FF3465833>]/Prev 238912>> Act. 75 0 obj 26 0 obj Regulation under the Property and Stock Agents Act 2002. Severe penalties may be imposed on persons convicted of collusive practices. Web(1) An agent must not act as an agent or represent himself or herself as acting as an agent on behalf of a person without written authority. <> endobj circumstances involving a natural disaster or recovery from a natural disaster. Maximum penalty for a first offence: In the case of a corporation, 50 penalty units or, in the case of an individual, 20 penalty units. The provisions displayed in this version of the legislation have all commenced. stock and station agents may exercise, Functions that strata managing agents and assistant strata <> )K=q0U\9x/>41lJ4skd3dz9T"[e?Q p4B+mCdAlH\]k/{SV3]7 3=' Act, Part 2 Licences and certificates of registration, Division 1 Requirement for licence or certificate of Account, Application of money for purposes of certain |e <> 0000006698 00000 n property, Underquoting in representations by real estate <> propertyexception, Exemption for certain visitor information centres or Interpretation Act 1987. 0000001821 00000 n agents, Secretary may freeze licensees accounts in 49 0 obj refund fees, Partial refund of application fees for certain licences There are no restrictions on the technology that can be used to make and keep records. Maximum penalty for a second or subsequent offence: In the case of a corporation, 100 penalty units or, in the case of an individual, 50 penalty units. A notice under this clause may be combined with the notice of auction conditions. There are no restrictions on the technology that can be used to make and keep a Bidders Record. The key changes in the Regulation are: updating the definition of buyers agent so it aligns with the Property and Stock Agents Act 2002 (section 3). when show cause notice served, Administrative review of disciplinary action by WebThe Regulation replaces the Property and Stock Agents Regulation 2014, with minor changes. <> WebPart 3 Components The key components of Property and Stock Agent Act 2002 include the Principal Act and the subordinate legislations such as the Property and Stock Agents Regulation 2014 and the Property and Stock Agents Order 2019 (Qualifications).
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