{"id":"a-2003-20","name":"Agents Act 2003","slug":"agents-act-2003","collection":"act","jurisdiction":"act","status":"in_force","isInForce":true,"actNumber":"20 of 2003","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":23021,"registerId":"act-a-2003-20-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"5","sectionType":"section","heading":"Earlier republications 149","content":"5 Earlier republications 149\n","sortOrder":0},{"sectionNumber":"6","sectionType":"section","heading":"Expired transitional or validating provisions 153","content":"6 Expired transitional or validating provisions 153\n\nAn Act to regulate agents, and for other purposes\n\n","sortOrder":1},{"sectionNumber":"1","sectionType":"section","heading":"Name of Act","content":"1 Name of Act\nThis Act is the Agents Act 2003.\n","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Dictionary","content":"3 Dictionary\nThe dictionary at the end of this Act is part of this Act.\nNote 1 The dictionary at the end of this Act defines certain terms used in this\nAct, and includes references (signpost definitions) to other terms defined\nelsewhere in this Act or in other legislation.\nFor example, the signpost definition ‘sexual offence—see the Spent\nConvictions Act 2000, dictionary.’ means that the term ‘sexual offence’\nis defined in that dictionary and the definition applies to this Act.\nNote 2 A definition in the dictionary (including a signpost definition) applies to\nthe entire Act unless the definition, or another provision of the Act,\nprovides otherwise or the contrary intention otherwise appears (see\nLegislation Act, s 155 and s 156 (1)).\n","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"Notes","content":"4 Notes\nA note included in this Act is explanatory and is not part of this Act.\nNote See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.\n\nPreliminary Part 1\n5 Offences against Act—application of Criminal Code etc\nOther legislation applies in relation to offences against this Act.\nNote 1 Criminal Code\nThe Criminal Code, ch 2 applies to all offences against this Act (see\nCode, pt 2.1).\nThe chapter sets out the general principles of criminal responsibility\n(including burdens of proof and general defences), and defines terms used\nfor offences to which the Code applies (eg conduct, intention,\nrecklessness and strict liability).\nNote 2 Penalty units\nThe Legislation Act, s 133 deals with the meaning of offence penalties\nthat are expressed in penalty units.\n6 Application of Act\nThis Act does not apply to the following:\n(a) an executor under a will or an administrator under letters of\nadministration;\n(b) a trustee of a deceased estate;\n(c) the public trustee and guardian;\n(d) a trustee company under the Trustee Companies Act 1947\nexercising functions under that Act;\n(e) an administrator, a receiver or a liquidator under the\nCorporations Act;\n(f) a manager under the Guardianship and Management of\nProperty Act 1991;\n(g) a bailiff;\n(h) a sheriff;\n(i) another court officer;\n\n(j) a lawyer exercising the functions of a lawyer;\n(k) a Minister;\n(l) an entity prescribed by regulation.\n\n","sortOrder":4},{"sectionNumber":"7","sectionType":"section","heading":"Meaning of fair trading legislation","content":"7 Meaning of fair trading legislation\nIn this Act:\nfair trading legislation—see the Fair Trading (Australian Consumer\nLaw) Act 1992, dictionary.\nNote This Act forms part of the fair trading legislation. Other fair trading\nlegislation includes the Fair Trading (Australian Consumer Law)\nAct 1992, the Australian Consumer Law (ACT) and the Security Industry\nAct 2003. As part of the fair trading legislation, this Act is subject to\nvarious provisions of the Fair Trading (Australian Consumer Law)\nAct 1992 about the administration and enforcement of the fair trading\nlegislation generally.\n","sortOrder":5},{"sectionNumber":"7A","sectionType":"section","heading":"Meaning of licensed property agent","content":"7A Meaning of licensed property agent\nIn this Act:\nlicensed property agent means—\n(a) a licensed business agent; or\n(b) a licensed real estate agent; or\n(c) a licensed stock and station agent.\n","sortOrder":6},{"sectionNumber":"8","sectionType":"section","heading":"Carrying on business as real estate agent","content":"8 Carrying on business as real estate agent\n(1) A person carries on business as a real estate agent if the person\nprovides, or offers to provide, a real estate agent service for a\nprincipal for reward.\n(2) Each of the following is a real estate agent service:\n(a) buying, selling (other than by auction), exchanging, leasing,\nassigning or otherwise disposing of land;\n\n(b) negotiating with, or inducing or attempting to induce, a person\nto—\n(i) buy, sell, exchange, lease, assign or otherwise dispose of\nland; or\ncontract to buy, sell, exchange, lease, assign or otherwise\ndispose of land;\n(c) collecting payments under a lease;\n(d) managing property under a lease;\n(e) collecting payments under a mortgage of land or payments\nunder a terms contract for land;\n(f) acting as manager of an owners corporation for a units plan;\n(g) any other service prescribed by regulation for this section.\n(3) To remove any doubt, a person does not carry on business as a real\nestate agent only because the person carries on business as a stock\nand station agent.\n","sortOrder":7},{"sectionNumber":"8A","sectionType":"section","heading":"People not taken to carry on business as real estate","content":"8A People not taken to carry on business as real estate\nThe following people do not carry on business as a real estate agent,\nand need not be licensed, only because they act as manager of an\nowners corporation for a units plan:\n(a) a member of the owners corporation appointed as treasurer of\nthe corporation;\n(b) a member of the owners corporation appointed as manager of\nthe corporation;\n(c) a person who manages only 1 owners corporation and whose\nincome from the owners corporation is not the person’s primary\nsource of income.\n\n","sortOrder":8},{"sectionNumber":"9","sectionType":"section","heading":"Carrying on business as stock and station agent","content":"9 Carrying on business as stock and station agent\n(1) A person carries on business as a stock and station agent if the\nperson provides, or offers to provide, a stock and station agent service\nfor a principal for reward.\n(2) Each of the following is a stock and station agent service:\n(a) buying, selling (other than by auction), exchanging, leasing,\nassigning or otherwise disposing of rural land;\n(b) negotiating with, or inducing or attempting to induce, a person\nto—\n(i) buy, sell, exchange, lease, assign or otherwise dispose of\nrural land; or\ncontract to buy, sell, exchange, lease, assign or otherwise\ndispose of rural land;\n(c) introducing a buyer or lessee of rural land to another licensed\nagent or to the owner, or an agent of the owner, of rural land;\n(d) collecting payments under a lease of rural land;\n(e) managing rural property under a lease;\n(f) buying, selling (including by auction) or otherwise disposing of\nlivestock;\n(g) negotiating with , or inducing or attempting to induce, a person\nto—\n(i) buy, sell, auction, exchange or otherwise dispose of\nlivestock; or\ncontract to buy, sell, auction, exchange or otherwise\ndispose of livestock;\n\n(h) providing agistment for livestock or collecting fees for the\nagistment of livestock;\n(i) any other service prescribed by regulation for this section.\nlessee includes prospective lessee.\nlivestock means animals raised or kept for profit.\n","sortOrder":9},{"sectionNumber":"10","sectionType":"section","heading":"Carrying on business as business agent","content":"10 Carrying on business as business agent\n(1) A person carries on business as a business agent if the person\nprovides, or offers to provide, a business agent service for a principal\nfor reward.\n(2) Each of the following is a business agent service:\n(a) buying, selling, exchanging, disposing of, or otherwise dealing\nwith, a business or professional practice or a share or interest in\nthe goodwill or stock of a business or professional practice;\n(b) negotiating for the purchase, sale, exchange, disposition of, or\nother dealing with, a business or professional practice or any\nshare or interest in the goodwill or stock of a business or\nprofessional practice;\n(c) any other service prescribed by regulation for this section.\n(3) To remove any doubt, a person does not carry on business as a\nbusiness agent only because the person carries on business as a stock\nand station agent.\n\n","sortOrder":10},{"sectionNumber":"11","sectionType":"section","heading":"Carrying on business as land auctioneer","content":"11 Carrying on business as land auctioneer\n(1) A person carries on business as a land auctioneer if the person\nprovides, or offers to provide, a land auctioneer service for a\nprincipal.\n(2) Each of the following is a land auctioneer service:\n(a) acting as an auctioneer of land, including rural land;\n(b) any other service prescribed by regulation for this section.\n","sortOrder":11},{"sectionNumber":"13","sectionType":"section","heading":"Employees not taken to carry on business as agents","content":"13 Employees not taken to carry on business as agents\nFor this Act, a person who is an employee of somebody else does not\ncarry on business as an agent only because the person, in the course\nof employment by the other person, performs any of the following\nservices:\n(a) a real estate agent service;\n(b) a stock and station agent service;\n(c) a business agent service.\n","sortOrder":12},{"sectionNumber":"14","sectionType":"section","heading":"Silent partners not taken to carry on business as agents","content":"14 Silent partners not taken to carry on business as agents\nFor this Act, a person does not carry on business as an agent only\nbecause the person is a member of a partnership that carries on the\nbusiness.\n","sortOrder":13},{"sectionNumber":"15","sectionType":"section","heading":"Publishers of advertisements not agents","content":"15 Publishers of advertisements not agents\nFor this Act, a person does not carry on business as an agent only\nbecause the person publishes, on behalf of somebody else, an\nadvertisement about—\n(a) a business carried on, or to be carried on, by the other person; or\n(b) a service provided, or to be provided, by the other person.\n\n","sortOrder":14},{"sectionNumber":"16","sectionType":"section","heading":"Application—div 3.1","content":"16 Application—div 3.1\nThis division does not apply to an administrator appointed under\nsection 139.\n","sortOrder":15},{"sectionNumber":"17","sectionType":"section","heading":"Meaning of licensed—div 3.1","content":"17 Meaning of licensed—div 3.1\nlicensed, in relation to an agent, does not include an agent whose\nlicence is suspended.\n","sortOrder":16},{"sectionNumber":"18","sectionType":"section","heading":"Real estate agents must be licensed","content":"18 Real estate agents must be licensed\n(a) the person is not a licensed real estate agent; and\n(i) carries on business as a real estate agent; or\n(ii) pretends to be a licensed real estate agent.\nMaximum penalty: 100 penalty units, imprisonment for 12 months\nor both.\n\nAgents to be licensed Division 3.1\n","sortOrder":17},{"sectionNumber":"19","sectionType":"section","heading":"Stock and station agents must be licensed","content":"19 Stock and station agents must be licensed\n(a) the person is not a licensed stock and station agent; and\n(i) carries on business as a stock and station agent; or\n(ii) pretends to be a licensed stock and station agent.\n","sortOrder":18},{"sectionNumber":"20","sectionType":"section","heading":"Business agents must be licensed","content":"20 Business agents must be licensed\n(a) the person is not a licensed business agent; and\n(i) carries on business as a business agent; or\n(ii) pretends to be a licensed business agent.\n\n","sortOrder":19},{"sectionNumber":"21","sectionType":"section","heading":"Land auctioneers must be licensed","content":"21 Land auctioneers must be licensed\n(a) the person is not a licensed land auctioneer; and\n(i) carries on business as a land auctioneer; or\n(ii) pretends to be a licensed land auctioneer.\n","sortOrder":20},{"sectionNumber":"23","sectionType":"section","heading":"Unlicensed agents cannot recover fees etc","content":"23 Unlicensed agents cannot recover fees etc\nA person is not entitled to bring a proceeding to recover a\ncommission, fee or reward for a service provided by the person as an\nagent if the person was not licensed to provide the service when the\nservice was provided.\n","sortOrder":21},{"sectionNumber":"23A","sectionType":"section","heading":"Classes of property agent licence","content":"23A Classes of property agent licence\nA property agent licence may be a class 1 or class 2 licence.\nNote The qualifications and experience needed for each class of property agent\nlicence are declared under s 25.\n","sortOrder":22},{"sectionNumber":"23B","sectionType":"section","heading":"Property agents must have correct class of licence","content":"23B Property agents must have correct class of licence\n(a) is not a class 1 licensed agent of a particular kind; and\n(b) pretends to be a class 1 licensed agent of that kind.\nExample\nA person is not a class 1 licensed real estate agent but pretends to be a class 1\nlicensed real estate agent.\n\n(2) A person commits an offence if—\n(a) the person is not a class 2 licensed agent of a particular kind; and\n(b) pretends to be a class 2 licensed agent of that kind.\n(4) In this section:\nclass 1 licensed agent, of a particular kind, means a person who holds\na class 1 licence to carry on business as one of the following agents:\n(a) a business agent;\n(b) a real estate agent;\n(c) a stock and station agent.\nclass 2 licensed agent, of a particular kind, means a person who holds\na class 2 licence to carry on business as one of the following agents:\n(a) a business agent;\n(b) a real estate agent;\n(c) a stock and station agent.\n","sortOrder":23},{"sectionNumber":"Div 3","sectionType":"division","heading":"2 Eligibility, qualifications and","content":"Division 3.2 Eligibility, qualifications and\ndisqualification—agents\n","sortOrder":24},{"sectionNumber":"24","sectionType":"section","heading":"Eligibility for licences","content":"24 Eligibility for licences\n(1) An individual is eligible to be licensed as an agent if the\ncommissioner for fair trading is satisfied that the individual—\n(a) is an adult; and\n(b) has the qualifications required under section 25 for—\n(i) the kind of licence; and\n\n(ii) for a property agent licence—the class of licence; and\n(c) has the experience required under section 25 for—\n(i) the kind of licence; and\n(ii) for a property agent licence—the class of licence; and\n(d) is not disqualified under section 27 (People disqualified from\nbeing licensed) or section 51 (People disqualified from being\nregistered).\n(2) For subsection (1) (b), the commissioner for fair trading may decide\nthat a higher qualification, equivalent qualification or substantially\nequivalent qualification meets the qualifications required under\nsection 25 for—\n(a) the kind of licence; and\n(b) for a property agent licence—the class of licence.\n(3) A person in a partnership is eligible to be licensed as an agent if the\ncommissioner for fair trading is satisfied that—\n(a) the person is eligible to be licensed as an agent under\nsubsection (1); and\n(b) no person in the partnership is disqualified under section 27 or\nsection 51.\n(4) A corporation is eligible to be licensed as an agent if—\n(a) the commissioner for fair trading is satisfied that no director of\nthe corporation is disqualified from being licensed as an agent\nunder section 27; and\n(b) at least 1 director of the corporation holds a licence of the same\nkind.\n(5) To remove any doubt, a regulation may provide that a person may be\nissued with an agents licence with stated conditions if the person does\nnot have stated qualifications.\n\n","sortOrder":25},{"sectionNumber":"25","sectionType":"section","heading":"Qualifications and experience for licences","content":"25 Qualifications and experience for licences\n(1) The commissioner for fair trading may declare the qualifications and\nexperience required for—\n(a) a licence, or renewal of a licence, for an agent; and\n(b) each class of property agent licence.\n(2) A declaration is a disallowable instrument.\n(3) A declaration may apply, adopt or incorporate a law of another\njurisdiction or instrument as in force from time to time.\n(4) The Legislation Act, section 47 (5) or (6) does not apply in relation\nto the law of another jurisdiction or instrument applied, adopted or\nincorporated under a declaration.\nNote Laws of another jurisdiction and instruments mentioned in s (4) do not\nneed to be notified under the Legislation Act because s 47 (5) and (6)\ndoes not apply (see Legislation Act, s 47 (7)).\n(5) In this section:\nlaw of another jurisdiction—see the Legislation Act, section 47 (10).\n","sortOrder":26},{"sectionNumber":"27","sectionType":"section","heading":"People disqualified from being licensed","content":"27 People disqualified from being licensed\n(1) A person is disqualified from being licensed as an agent if the\nperson—\n(a) for a licence other than a real estate agent’s licence—has been\nconvicted of an ACT dishonesty offence or a non-ACT offence\nthat is similar in nature to an ACT dishonesty offence; or\nNote A conviction does not include a spent conviction (see Spent\nConvictions Act 2000, s 16 (c) (i)).\n(b) for a real estate agent’s licence—is found unsuitable to be\nlicensed under section 27A; or\n(c) is bankrupt or, at any time in the last 3 years—\n(i) has been bankrupt; or\n\n(ii) has executed a personal insolvency agreement; or\n(d) at any time in the last 3 years was involved in the management\nof a corporation when—\n(i) the corporation became the subject of a winding-up order;\nor\n(ii) a controller or administrator was appointed; or\n(e) has a mental incapacity that may affect the exercise of the\nperson’s functions as licensee; or\n(f) is licensed and has contravened, or is contravening, an order of\nthe ACAT; or\n(g) holds a licence that is suspended; or\n(h) is disqualified by the ACAT from being licensed or registered;\nor\n(i) is disqualified under a corresponding law from holding an\nauthority (however described) to be an agent or be an employee\nof an agent; or\n(j) holds an authority (however described) under a corresponding\nlaw to be an agent or be an employee of an agent that is\nsuspended; or\n(k) is in partnership with a person disqualified from being licensed\nor registered; or\n(l) is a corporation that is the subject of a winding-up order; or\n(m) is a corporation for which a controller or administrator has been\nappointed; or\n(n) is a licensed agent who is applying for a licence or the renewal\nof a licence and has contravened, or is contravening, a condition\nof the person’s licence; or\n\n(o) has contravened, or is contravening, a provision of this Act\nprescribed by regulation as a disqualifying breach.\n(2) However, a person is not disqualified from being licensed only\nbecause subsection (1) (c) or (d) applies to the person if the\ncommissioner for fair trading is satisfied that the person took all\nreasonable steps to avoid the bankruptcy, personal insolvency\nagreement, winding-up or appointment mentioned in the paragraph.\n(3) Also, a person is not disqualified from being licensed only because\nthe person has contravened, or is contravening, a licence condition if\nthe commissioner for fair trading decides that the contravention\nshould be disregarded for this section.\n","sortOrder":27},{"sectionNumber":"27A","sectionType":"section","heading":"Suitability—real estate agents","content":"27A Suitability—real estate agents\n(1) This section applies to a person if the person has been convicted of a\nrelevant offence.\n(2) The commissioner for fair trading may decide the person is unsuitable\nto be licensed as a real estate agent.\nNote A review of a decision to refuse to issue a licence to a person may include\na review of the commissioner’s decision on the person’s suitability (see\nsch 1, item 2).\n(3) In deciding whether a person is unsuitable to be licensed, the\ncommissioner for fair trading must have regard to the following\nmatters:\n(a) when the offence was committed;\n(b) the nature, seriousness and circumstances of the offence;\n(c) whether the offence indicates the person may be a risk to\nmembers of the public;\n(d) the relevance of the offence to the person’s duties as an agent;\n(e) whether the offence was committed by the person in the course\nof their duties as a real estate agent or assistant real estate agent;\n\n(f) whether the ACAT has made an occupational discipline order in\nrelation to the person.\nDivision 3.3 Licence procedures and details—\n","sortOrder":28},{"sectionNumber":"28","sectionType":"section","heading":"Advertising intended licence applications","content":"28 Advertising intended licence applications\n(1) A person who intends to apply for a licence as an agent must give\npublic notice of the person’s intention to apply for the licence.\n(2) The notice must—\n(a) state the kind of licence the person intends to apply for; and\n(b) for a property agent licence—state the class of licence the person\nintends to apply for; and\n(c) include any other information prescribed by regulation.\n","sortOrder":29},{"sectionNumber":"29","sectionType":"section","heading":"Licence applications","content":"29 Licence applications\n(1) An application for a licence may be made to the commissioner for fair\ntrading only—\n(a) by a person who has published a notice under section 28 in\nrelation to the application; and\n(b) within 10 business days after the day the notice is published.\n(2) An application must be in writing and state—\n(a) the kind of licence applied for; and\n(b) for a property agent licence—the class of licence applied for.\n(3) An application must be accompanied by––\n(a) a statement setting out the place that, if the licence is issued, will\nbe the applicant’s main place of business; and\n\n(b) a police certificate dated not earlier than 2 months before the day\nthe application is made for each of the following people:\n(i) the applicant;\n(ii) any partners of the applicant;\n(iii) if the applicant is a corporation––each director of the\ncorporation.\n","sortOrder":30},{"sectionNumber":"30","sectionType":"section","heading":"Objections to licences","content":"30 Objections to licences\n(1) This section applies if a notice (the public notice) is published under\nsection 28 (1) (Advertising intended licence applications) in relation\nto a licence application.\n(2) A person may object to the issue of the licence by written notice (the\nobjection) given to the commissioner for fair trading within\n10 business days after the day the public notice is published.\n(3) The objection must set out the grounds on which it is claimed that the\napplicant is not eligible for the licence.\nNote For the grounds of eligibility, see s 24.\n(4) The person making the objection must give a copy of the objection to\nthe applicant within 10 business days after the day the public notice\nis published.\nNote For how documents may be served, see the Legislation Act, pt 19.5.\n(5) The commissioner for fair trading may consider the objection only if\nsatisfied that subsection (4) has been complied with.\n","sortOrder":31},{"sectionNumber":"31","sectionType":"section","heading":"Further information for licence applications","content":"31 Further information for licence applications\n(1) The commissioner for fair trading may, by written notice given to an\napplicant for a licence, require the applicant to give the commissioner\nfurther stated information, or a document, that the commissioner\nreasonably needs to consider the application.\n\n(2) If the applicant fails to comply with a requirement under\nsubsection (1), the commissioner may refuse to consider the\napplication until the requirement is complied with.\n","sortOrder":32},{"sectionNumber":"32","sectionType":"section","heading":"Information about licence applications","content":"32 Information about licence applications\nThe commissioner for fair trading may seek information about a\nlicence application or an applicant in any way the commissioner\nconsiders appropriate.\n","sortOrder":33},{"sectionNumber":"33","sectionType":"section","heading":"Decisions on licence applications","content":"33 Decisions on licence applications\n(1) This section applies if the commissioner for fair trading receives an\napplication for a licence under section 29 (Licence applications).\n(2) Within 12 weeks after the day the commissioner for fair trading\n(a) issue the licence; or\n(b) refuse to issue the licence.\n(3) The commissioner for fair trading must issue the licence if satisfied\nthat the applicant is eligible to be licensed under section 24\n(Eligibility for licences).\n(4) If the licence is a property agent licence, the licence must state the\nclass of licence.\n(5) If a requirement for information or a document relating to an\napplication is made under section 31 (Further information for licence\napplications), the 12-week period mentioned in subsection (2) is\nextended by the period beginning on the day when the requirement is\nmade and ending on the day when the requirement is complied with.\n\n","sortOrder":34},{"sectionNumber":"34","sectionType":"section","heading":"Licence conditions","content":"34 Licence conditions\n(1) A licence is subject to any conditions—\n(a) prescribed by regulation; or\n(b) put on the licence under this section.\nExamples of conditions that may be put on a licence\n1 restrictions about the size or kind of business that may be operated\n2 geographic limitations\n3 requiring the licensee to obtain stated qualifications\n(2) The commissioner for fair trading—\n(a) may put a condition on a licence when the licence is issued or at\nany other time; and\n(b) may at any time amend or omit a condition that the\ncommissioner has put on a licence; and\n(c) must put a condition on a licence, or amend or omit a condition,\nif directed to do so by the ACAT.\n(3) The commissioner for fair trading may put a condition on a person’s\nlicence, or amend a condition, under subsection (2) (a) or (b) only\nif—\n(a) the commissioner has given the person written notice of the\nproposed condition or amendment; and\n(b) the notice states that written comments on the proposal may be\nmade to the commissioner within a stated period of at least\n10 business days after the day the notice is given to the person;\nand\n(c) the commissioner has considered any comments made within\nthe period.\n(4) Subsection (3) does not apply if the person asked for, or agreed in\nwriting to, the proposed condition or amendment.\n\n","sortOrder":35},{"sectionNumber":"35","sectionType":"section","heading":"Term of licences","content":"35 Term of licences\nA licence is issued for the period of up to 3 years stated in the licence.\n","sortOrder":36},{"sectionNumber":"36","sectionType":"section","heading":"Renewal of licences","content":"36 Renewal of licences\n(1) A licensed agent may apply to the commissioner for fair trading to\nrenew the licence.\n(2) Within 6 weeks after the day the commissioner for fair trading\nreceives an application, the commissioner must—\n(a) renew the licence; or\n(b) refuse to renew the licence.\n(3) The commissioner for fair trading must renew the licence if\nsatisfied that the applicant—\n(a) is eligible to be licensed under section 24 (Eligibility for\nlicences); and\n(b) has complied with the requirements (if any) prescribed by\n","sortOrder":37},{"sectionNumber":"37","sectionType":"section","heading":"Continuation of existing licences until renewal","content":"37 Continuation of existing licences until renewal\napplications decided\n(1) If a licensed agent applies to renew a licence under section 36, the\nlicence remains in force until the application is decided.\n(2) Subsection (1) applies even if it causes the existing licence to be in\nforce for longer than 3 years.\n\n(3) If a person who has been a licensed agent applies, within 3 months\nafter the day the term of the licence ends (the last licence day), to\nrenew the licence—\n(a) any service provided by the person after the last licence day and\nbefore the day of the commissioner for fair trading’s decision\nabout the renewal application (whether or not the licence is\nrenewed) is taken to have been provided by the person as a\nlicensed agent; and\n(b) if the licence is renewed, the term of the renewed licence is\nbackdated to the day after the last licence day.\n(4) Subsection (3) (a) does not prevent the person committing, being\nprosecuted for, or being found guilty of, an offence against\ndivision 3.1 (Agents to be licensed).\nNote Found guilty––see the Legislation Act, dictionary, pt 1.\n","sortOrder":38},{"sectionNumber":"38","sectionType":"section","heading":"Licence certificates","content":"38 Licence certificates\n(1) If the commissioner for fair trading decides to issue a licence to a\nperson or renew a person’s licence, the commissioner must give the\nperson a licence certificate.\n(2) The commissioner for fair trading may issue a replacement licence\ncertificate to a licensed agent if satisfied that the certificate has been\nlost, stolen, damaged or destroyed.\n","sortOrder":39},{"sectionNumber":"39","sectionType":"section","heading":"Surrender of licence","content":"39 Surrender of licence\nA licensed agent may at any time surrender the licence by written\nnotice given to the commissioner for fair trading.\n\nNote Under the Fair Trading (Australian Consumer Law) Act 1992, s 33, the\ncommissioner for fair trading may receive and investigate complaints in\nrelation to the supply of goods and services or the acquisition of interests\nin land.\n","sortOrder":40},{"sectionNumber":"40","sectionType":"section","heading":"Meaning of agent for div 3.4","content":"40 Meaning of agent for div 3.4\nagent means a licensed agent or a former licensed agent.\n","sortOrder":41},{"sectionNumber":"41","sectionType":"section","heading":"Grounds for occupational discipline—agents","content":"41 Grounds for occupational discipline—agents\n(1) Each of the following is a ground for occupational discipline in\nrelation to an agent:\n(a) the agent has contravened, or is contravening, the fair trading\nlegislation;\n(b) the agent has contravened, or is contravening, a rule of conduct;\nNote Rules of conduct—see s 171.\n(c) the agent has contravened, or is contravening, a condition of the\nagent’s licence;\n(d) if the agent is a licensed agent––the agent has become ineligible\nfor a licence under section 24 (Eligibility for licences) or for\nregistration under section 49 (Eligibility for registration);\n(e) the agent has contravened, or is contravening, an order of the\nACAT;\n(f) the agent’s licence was obtained by fraud or mistake;\n(g) a ground prescribed by regulation for this section.\n(2) However, subsection (1) (a) to (e) applies to a former licensed agent\nonly in relation to anything that happened while the person was\nlicensed.\n\nOccupational discipline—agents Division 3.4\n","sortOrder":42},{"sectionNumber":"42","sectionType":"section","heading":"Application to ACAT for occupational discipline—agents","content":"42 Application to ACAT for occupational discipline—agents\nIf the commissioner for fair trading believes on reasonable grounds\nthat a ground for occupational discipline exists in relation to an agent,\nthe commissioner may apply to the ACAT for an occupational\ndiscipline order in relation to the agent.\nNote The ACT Civil and Administrative Tribunal Act 2008, s 65 sets out when\nthe ACAT may make an occupational discipline order, and s 66 sets out\nthe occupational discipline orders the ACAT may make.\n","sortOrder":43},{"sectionNumber":"43","sectionType":"section","heading":"Occupational discipline orders—agents","content":"43 Occupational discipline orders—agents\n(1) This section applies if the ACAT makes an occupational discipline\norder to cancel or suspend an agent’s licence.\n(2) The ACAT may—\n(a) cancel or suspend any other licence held by the agent; or\n(b) prohibit the agent administering a general fund or sinking fund\nunder the Unit Titles (Management) Act 2011.\nNote Licence—see the dictionary.\n\nDivision 4.1 Assistant property agents to be registered\nPart 4 Registration of assistant\nDivision 4.1 Assistant property agents to be\nregistered\n44 Meaning of registered—div 4.1\nregistered, in relation to an assistant property agent, does not include\nan assistant property agent whose registration is suspended.\n","sortOrder":44},{"sectionNumber":"45","sectionType":"section","heading":"Assistant real estate agents must be registered","content":"45 Assistant real estate agents must be registered\n(a) is not a registered assistant real estate agent; and\n(b) is, or pretends to be, employed by a licensed real estate agent to\nprovide a real estate agent service.\n","sortOrder":45},{"sectionNumber":"46","sectionType":"section","heading":"Assistant stock and station agents must be registered","content":"46 Assistant stock and station agents must be registered\n(a) is not a registered assistant stock and station agent; and\n\nAssistant property agents to be registered Division 4.1\n(b) is, or pretends to be, employed by a licensed stock and station\nagent to provide a stock and station agent service.\n","sortOrder":46},{"sectionNumber":"47","sectionType":"section","heading":"Assistant business agents must be registered","content":"47 Assistant business agents must be registered\n(a) is not a registered assistant business agent; and\n(b) is, or pretends to be, employed by a licensed business agent to\nprovide a business agent service.\n","sortOrder":47},{"sectionNumber":"48","sectionType":"section","heading":"Assistant property agents must be registered to recover","content":"48 Assistant property agents must be registered to recover\nfees etc\n(1) A person is not entitled to bring a proceeding to recover salary, or a\ncommission, fee or reward, for a service provided by the person if, in\nproviding the service, the person contravened any of the following\nprovisions:\n(a) section 45 (Assistant real estate agents must be registered);\n\n","sortOrder":48},{"sectionNumber":"Div 4","sectionType":"division","heading":"2 Eligibility, qualifications and disqualification—assistant property agents","content":"Division 4.2 Eligibility, qualifications and disqualification—assistant property agents\n(b) section 46 (Assistant stock and station agents must be\nregistered);\n(c) section 47 (Assistant business agents must be registered).\n(2) Subsection (1) applies whether or not anyone has been convicted of\nan offence against section 45, section 46 or section 47.\nDivision 4.2 Eligibility, qualifications and\ndisqualification—assistant property\n","sortOrder":49},{"sectionNumber":"49","sectionType":"section","heading":"Eligibility for registration","content":"49 Eligibility for registration\n(1) An individual is eligible to be registered as an assistant property agent\nif the commissioner for fair trading is satisfied that the individual—\n(a) is an adult; and\n(b) has the qualifications required under section 50 for the kind of\nregistration; and\n(c) has the experience required under section 50 for the kind of\nregistration; and\n(d) is not disqualified under section 27 (People disqualified from\nbeing licensed) or section 51 (People disqualified from being\nregistered).\n(2) For subsection (1) (b), the commissioner for fair trading may decide\nthat a higher qualification, equivalent qualification or substantially\nequivalent qualification meets the qualifications required under\nsection 50 for the kind of registration.\n(3) To remove any doubt, a regulation may provide that a person may be\nregistered subject to stated conditions if the person does not have\nstated qualifications.\n\nEligibility, qualifications and disqualification—assistant property agents Division 4.2\n","sortOrder":50},{"sectionNumber":"50","sectionType":"section","heading":"Qualifications and experience for registration","content":"50 Qualifications and experience for registration\n(1) The commissioner for fair trading may declare the qualifications and\nexperience required for registration, or renewal of registration, of an\nassistant property agent.\n(2) A declaration is a disallowable instrument.\n(3) A declaration may apply, adopt or incorporate a law of another\njurisdiction or instrument as in force from time to time.\n(4) The Legislation Act, section 47 (5) or (6) does not apply in relation\nto the law of another jurisdiction or instrument applied, adopted or\nincorporated under a declaration.\nNote Laws of another jurisdiction and instruments mentioned in s (4) do not\nneed to be notified under the Legislation Act because s 47 (5) and (6)\ndoes not apply (see Legislation Act, s 47 (7)).\n(5) In this section:\nlaw of another jurisdiction—see the Legislation Act, section 47 (10).\n","sortOrder":51},{"sectionNumber":"51","sectionType":"section","heading":"People disqualified from being registered","content":"51 People disqualified from being registered\n(1) A person is disqualified from being registered as an assistant property\nagent if the person—\n(a) for registration of a person other than as an assistant real estate\nagent—has been convicted of an ACT dishonesty offence or a\nnon-ACT offence that is similar in nature to an ACT dishonesty\noffence; or\nNote A conviction does not include a spent conviction (see Spent\nConvictions Act 2000, s 16 (c) (i)).\n(b) for registration of a person as an assistant real estate agent—is\nfound unsuitable to be licensed under section 51A; or\n(c) is bankrupt or, at any time in the last 3 years—\n(i) has been bankrupt; or\n\nDivision 4.2 Eligibility, qualifications and disqualification—assistant property agents\n(ii) has executed a personal insolvency agreement; or\n(d) has a mental incapacity that may affect the exercise of the\nperson’s functions as a registered assistant property agent; or\n(e) is registered and has contravened, or is contravening, an order\nof the ACAT; or\n(f) holds a registration that is suspended; or\n(g) is disqualified by the ACAT from being licensed or registered;\nor\n(h) is disqualified under a corresponding law from holding an\nauthority (however described) to be an agent or an employee of\nan agent; or\n(i) holds an authority (however described) under a corresponding\nlaw to be an agent or an employee of an agent that is suspended;\nor\n(j) is a registered assistant property agent who is applying for\nanother kind of registration and has contravened, or is\ncontravening, a condition of the person’s registration; or\n(k) has contravened, or is contravening, a provision of this Act\nprescribed by regulation as a disqualifying breach.\n(2) However, a person is not disqualified from being registered only\nbecause subsection (1) (c) applies to the person if the commissioner\nfor fair trading is satisfied that the person took all reasonable steps to\navoid the bankruptcy or personal insolvency agreement mentioned in\nthe paragraph.\n(3) Also, a person is not disqualified from being registered only because\nthe person has contravened, or is contravening, a registration\ncondition if the commissioner for fair trading decides that the\ncontravention should be disregarded for this section.\n\nEligibility, qualifications and disqualification—assistant property agents Division 4.2\n","sortOrder":52},{"sectionNumber":"51A","sectionType":"section","heading":"Suitability—assistant real estate agents","content":"51A Suitability—assistant real estate agents\n(1) This section applies to a person if the person has been convicted of a\nrelevant offence.\n(2) The commissioner for fair trading may decide the person is unsuitable\nto be registered as an assistant real estate agent.\nNote A review of a decision to refuse to register an applicant may include a\nreview of the commissioner’s decision on the applicant’s suitability (see\nsch 1, item 7).\n(3) In deciding whether a person is unsuitable to be registered, the\ncommissioner for fair trading must have regard to the following\nmatters:\n(a) when the offence was committed;\n(b) the nature, seriousness and circumstances of the offence;\n(c) whether the offence indicates the person may be a risk to\nmembers of the public;\n(d) the relevance of the offence to the person’s duties as an assistant\nreal estate agent;\n(e) whether the offence was committed by the person in the course\nof their duties as a real estate agent or assistant real estate agent;\n(f) whether the ACAT has made an occupational discipline order in\nrelation to the person.\n\nDivision 4.3 Registration procedures and details—\n","sortOrder":53},{"sectionNumber":"52","sectionType":"section","heading":"Advertising intended registration applications","content":"52 Advertising intended registration applications\n(1) A person who intends to apply for registration as an assistant property\nagent must give public notice of the person’s intention to apply for\nregistration.\n(2) The notice must—\n(a) state the kind of registration the person intends to apply for; and\n(b) include any other information prescribed by regulation.\n","sortOrder":54},{"sectionNumber":"53","sectionType":"section","heading":"Registration applications","content":"53 Registration applications\n(1) An application for registration may be made to the commissioner for\nfair trading only—\n(a) by a person who has published a notice under section 52 in\nrelation to the application; and\n(b) within 10 business days after the day the notice is published.\n(2) An application must be in writing and state the kind of registration\napplied for.\n(3) An application must be accompanied by a police certificate for the\napplicant, dated not earlier than 2 months before the day the\napplication is made.\n","sortOrder":55},{"sectionNumber":"54","sectionType":"section","heading":"Objections to registration","content":"54 Objections to registration\n(1) This section applies if a notice (the public notice) is published under\nsection 52 (1) (Advertising intended registration applications) in\nrelation to a registration application.\n\nRegistration procedures and details—assistant property agents Division 4.3\n(2) A person may object to the registration by written notice (the\nobjection) given to the commissioner for fair trading within\n10 business days after the day the public notice is published.\n(3) The objection must set out the grounds on which it is claimed that the\napplicant is not eligible for registration.\nNote For the grounds of eligibility, see s 49.\n(4) The person making the objection must give a copy of the objection to\nthe applicant within 10 business days after the day the public notice\nis published.\nNote For how documents may be served, see the Legislation Act, pt 19.5.\n(5) The commissioner for fair trading may consider the objection only if\nsatisfied that subsection (4) has been complied with.\n","sortOrder":56},{"sectionNumber":"55","sectionType":"section","heading":"Further information for registration applications","content":"55 Further information for registration applications\n(1) The commissioner for fair trading may, by written notice given to an\napplicant for registration, require the applicant to give the\ncommissioner further stated information, or a document, that the\ncommissioner reasonably needs to consider the application.\n(2) If the applicant fails to comply with a requirement under\nsubsection (1), the commissioner may refuse to consider the\napplication until the requirement is complied with.\n","sortOrder":57},{"sectionNumber":"56","sectionType":"section","heading":"Information about registration applications","content":"56 Information about registration applications\nThe commissioner for fair trading may seek information about a\nregistration application or an applicant in any way the commissioner\nconsiders appropriate.\n","sortOrder":58},{"sectionNumber":"57","sectionType":"section","heading":"Decisions on registration applications","content":"57 Decisions on registration applications\n(1) This section applies if the commissioner for fair trading receives an\napplication for registration under section 53 (Registration\napplications).\n\n(2) Within 12 weeks after the day the commissioner for fair trading\n(a) register the applicant; or\n(b) refuse to register the applicant.\n(3) The commissioner for fair trading must register the applicant if\nsatisfied that the applicant is eligible to be registered under section 49\n(Eligibility for registration).\n(4) If a requirement for information or a document relating to an\napplication is made under section 55 (Further information for\nregistration applications), the 12-week period mentioned in\nsubsection (2) is extended by the period beginning on the day when\nthe requirement is made and ending on the day when the requirement\nis complied with.\n","sortOrder":59},{"sectionNumber":"58","sectionType":"section","heading":"Registration conditions","content":"58 Registration conditions\n(1) A registration is subject to any conditions—\n(a) prescribed by regulation; or\n(b) put on the registration under this section.\nExample of a condition that may be put on a registration\nthat the registered person obtain a specified qualification\n(2) The commissioner for fair trading—\n(a) may put a condition on a registration when the person is\nregistered or at any other time; and\n(b) may at any time amend or omit a condition that the\ncommissioner has put on a person’s registration; and\n(c) must put a condition on a registration, or amend or omit a\ncondition, if directed to do so by the ACAT.\n\nRegistration procedures and details—assistant property agents Division 4.3\n(3) The commissioner for fair trading may put a condition on a person’s\nregistration, or amend a condition, under subsection (2) (a) or (b) only\nif—\n(a) the commissioner has given the person or registered assistant\nproperty agent written notice of the proposed condition or\namendment; and\n(b) the notice states that written comments on the proposal may be\nmade to the commissioner within a stated period of at least\n10 business days after the day the notice is given to the person;\nand\n(c) the commissioner has considered any comments made within\nthe period.\n(4) Subsection (3) does not apply if the person asked for, or agreed in\nwriting to, the proposed condition or amendment.\n","sortOrder":60},{"sectionNumber":"59","sectionType":"section","heading":"Term of registration","content":"59 Term of registration\nA registration is for the period of up to 3 years stated in the\nregistration certificate.\n","sortOrder":61},{"sectionNumber":"60","sectionType":"section","heading":"Renewal of registrations","content":"60 Renewal of registrations\n(1) A registered assistant property agent may apply to the commissioner\nfor fair trading to renew the registration.\n(2) Within 6 weeks after the day the commissioner for fair trading\n(a) renew the registration; or\n(b) refuse to renew the registration.\n\n(3) The commissioner for fair trading must renew the registration if\nsatisfied that—\n(a) the applicant is eligible to be registered under section 49\n(Eligibility for registration); and\n(b) the applicant has complied with the requirements (if any)\nprescribed by regulation.\n","sortOrder":62},{"sectionNumber":"61","sectionType":"section","heading":"Continuation of existing registrations until renewal","content":"61 Continuation of existing registrations until renewal\napplications decided\n(1) If a registered assistant property agent applies to renew the\nregistration under section 60, the registration remains in force until\nthe application is decided.\n(2) Subsection (1) applies even if it causes the existing registration to be\nin force for longer than 3 years.\n(3) If a person who has been a registered assistant property agent applies,\nwithin 3 months after the day the term of the registration ends (the\nlast registration day), to renew the registration—\n(a) any service provided by the person after the last registration day\nand before the day of the commissioner for fair trading’s\ndecision about the renewal application (whether or not the\nregistration is renewed) is taken to have been provided by the\nperson as a registered assistant property agent; and\n(b) if the registration is renewed, the term of the renewed\nregistration is backdated to the day after the last registration day.\n(4) Subsection (3) (a) does not prevent the person committing, being\nprosecuted for, or being found guilty of, an offence against\ndivision 4.1 (Assistant property agents to be registered).\nNote Found guilty––see the Legislation Act, dictionary, pt 1.\n\nOccupational discipline—registered assistant property agents Division 4.4\n","sortOrder":63},{"sectionNumber":"62","sectionType":"section","heading":"Registration certificates","content":"62 Registration certificates\n(1) If the commissioner for fair trading decides to register a person or\nrenew a person’s registration, the commissioner must give the person\na registration certificate.\n(2) The commissioner for fair trading may issue a replacement\nregistration certificate to a registered assistant property agent if\nsatisfied that the certificate has been lost, stolen, damaged or\ndestroyed.\n","sortOrder":64},{"sectionNumber":"63","sectionType":"section","heading":"Surrender of registration","content":"63 Surrender of registration\nA registered assistant property agent may at any time surrender the\nregistration by written notice given to the commissioner for fair\ntrading.\nDivision 4.4 Occupational discipline—registered\nNote Under the Fair Trading (Australian Consumer Law) Act 1992, s 33, the\ncommissioner for fair trading may receive and investigate complaints in\nrelation to the supply of goods and services or the acquisition of interests\nin land.\n","sortOrder":65},{"sectionNumber":"64","sectionType":"section","heading":"Meaning of registered assistant property agent—div 4.4","content":"64 Meaning of registered assistant property agent—div 4.4\nregistered assistant property agent means a registered assistant\nproperty agent or a former registered assistant property agent.\n","sortOrder":66},{"sectionNumber":"65","sectionType":"section","heading":"Grounds for occupational discipline—assistant property","content":"65 Grounds for occupational discipline—assistant property\n(1) Each of the following is a ground for occupational discipline in\nrelation to a registered assistant property agent:\n(a) the assistant property agent has contravened, or is contravening,\nthe fair trading legislation;\n\nDivision 4.4 Occupational discipline—registered assistant property agents\n(b) the assistant property agent has contravened, or is contravening,\na rule of conduct;\nNote Rules of conduct—see s 171.\n(c) the assistant property agent has contravened, or is contravening,\na condition of the assistant property agent’s registration;\n(d) the assistant property agent has become ineligible for\nregistration under section 49 (Eligibility for registration);\n(e) the assistant property agent has contravened, or is contravening,\nan order of the ACAT;\n(f) the assistant property agent’s registration was obtained by fraud\nor mistake;\n(g) a ground prescribed by regulation for this section.\n(2) However, subsection (1) (a) to (e) applies to a former registered\nassistant property agent only in relation to anything that happened\nwhile the person was registered.\n","sortOrder":67},{"sectionNumber":"66","sectionType":"section","heading":"Application to ACAT for occupational discipline—","content":"66 Application to ACAT for occupational discipline—\nIf the commissioner for fair trading believes on reasonable grounds\nthat a ground for occupational discipline exists in relation to a\nregistered assistant property agent, the commissioner may apply to\nthe ACAT for an occupational discipline order in relation to the\nassistant property agent.\nNote The ACT Civil and Administrative Tribunal Act 2008, s 65 sets out when\nthe ACAT may make an occupational discipline order, and s 66 sets out\nthe occupational discipline orders the ACAT may make.\n\nOccupational discipline—registered assistant property agents Division 4.4\n","sortOrder":68},{"sectionNumber":"67","sectionType":"section","heading":"Occupational discipline orders—assistant property","content":"67 Occupational discipline orders—assistant property\n(1) This section applies if the ACAT makes an occupational discipline\norder to cancel or suspend a registered assistant property agent’s\nregistration.\n(2) The ACAT may cancel or suspend any other registration held by the\nregistered assistant property agent.\nNote Registration—see the dictionary.\n\nDivision 5.1 Licensed agent’s main place of business\nPart 5 Conduct of licensed agents and\nDivision 5.1 Licensed agent’s main place of\nbusiness\n68 Main place of business\n(1) On the issue of an agents licence, the commissioner for fair trading\nmust enter in the register, as the agent’s main place of business, the\nplace shown in the statement under section 29 (3) (a) (Licence\napplications).\nNote Register—see s 160.\n(2) A licensed agent must tell the commissioner for fair trading in writing\nabout any change in the agent’s main place of business in the ACT\nwithin the period prescribed by regulation.\n(3) The commissioner for fair trading must enter in the register any\nchange notified under subsection (2).\n","sortOrder":69},{"sectionNumber":"Div 5","sectionType":"division","heading":"2 Management of licensed agent’s","content":"Division 5.2 Management of licensed agent’s\nbusiness\n","sortOrder":70},{"sectionNumber":"68A","sectionType":"section","heading":"Licensed agent in charge to have class 1 property agent","content":"68A Licensed agent in charge to have class 1 property agent\nlicence\n(a) is responsible for the day-to-day management of a place of\nbusiness of a licensed property agent; and\n(b) is not a class 1 licensed property agent.\n\n(3) A licensed property agent may be exempted from this section under\nsection 71 (Class 1 licensed property agent to be in charge of\nbusiness—exemptions).\n","sortOrder":71},{"sectionNumber":"69","sectionType":"section","heading":"Property agent place of business to have class 1 licensed","content":"69 Property agent place of business to have class 1 licensed\nproperty agent in charge\n(1) A class 1 licensed property agent commits an offence if—\n(a) the licensed property agent is an individual; and\n(b) the licensed property agent carries on business at 2 or more\nplaces of business; and\n(c) the licensed property agent does not employ, at each place of\nbusiness where the licensed property agent is not responsible for\nthe day-to-day management of the business, an individual\nwho—\n(2) A class 2 licensed property agent commits an offence if—\n(a) the licensed property agent is an individual; and\n(b) the licensed property agent does not employ, at each place of\nbusiness where the licensed property agent carries on business,\nan individual who—\n\n(3) A licensed property agent commits an offence if—\n(a) the licensed property agent is a corporation; and\n(b) the licensed property agent does not employ, at each place of\nbusiness where the licensed property agent carries on business,\nan individual who—\n(5) A licensed property agent may be exempted from this section under\nsection 71.\nmentioned in s (5) (see Criminal Code, s 58).\n","sortOrder":72},{"sectionNumber":"70","sectionType":"section","heading":"Class 1 licensed property agent to be in charge of 1 place","content":"70 Class 1 licensed property agent to be in charge of 1 place\nof business\n(1) A class 1 licensed property agent commits an offence if the licensed\nproperty agent is responsible for the day-to-day management of 2 or\nmore places of business.\n(2) A class 1 licensed property agent commits an offence if—\n(a) the licensed property agent—\n(i) is employed to be responsible for the day-to-day\nmanagement of another licensed property agent’s place of\nbusiness; and\n(ii) provides services for 2 or more licensed property agents at\nthe place; and\n\n(b) the licensed property agents to whom the services are provided\nare not in partnership with each other.\n(4) A class 1 licensed property agent may be exempted from this section\nunder section 71.\nmentioned in s (4) (see Criminal Code, s 58).\n","sortOrder":73},{"sectionNumber":"71","sectionType":"section","heading":"Class 1 licensed property agent to be in charge of","content":"71 Class 1 licensed property agent to be in charge of\nbusiness—exemptions\n(1) The commissioner for fair trading may, in writing, exempt a licensed\nproperty agent from the following provisions:\n(a) section 68A (Licensed agent in charge to have class 1 property\nagent licence);\n(b) section 69 (Property agent place of business to have class 1\nlicensed property agent in charge);\n(c) section 70 (Class 1 licensed property agent to be in charge of\n1 place of business).\n(2) The exemption may be conditional.\n(3) A regulation may prescribe the matters to be considered by the\ncommissioner for fair trading in deciding whether to exempt a\nlicensed property agent under subsection (1), or amend or revoke an\nexemption.\n(4) A condition under this section may be put or amended as if it were a\ncondition on a licence.\nNote The procedure for putting or amending licence conditions is dealt with in\ns 34 (2), (3) and (4).\n\n","sortOrder":74},{"sectionNumber":"72","sectionType":"section","heading":"Licensed property agent must not share commission etc","content":"72 Licensed property agent must not share commission etc\nwith unlicensed person\n(1) A licensed property agent commits an offence if—\n(a) the licensed agent—\n(i) enters into an agreement or arrangement with an\nunlicensed person; or\n(ii) acts with an unlicensed person; and\n(b) the unlicensed person is not a registered assistant property agent;\nand\n(c) the unlicensed person would, apart from this section, be entitled\nto a share of the commission, fee or reward payable to the\nlicensed agent for the provision of a service for which the\nlicensed agent is required to be licensed.\n(3) This section does not apply in relation to an agreement, arrangement\nor action by a licensed property agent with a partner of the agent who\ndoes not carry on business as an agent.\n(4) An agreement or arrangement mentioned in subsection (1) is void so\nfar as it purports to provide an entitlement mentioned in\nsubsection (1) (c).\n(5) A person is not entitled to bring a proceeding to recover a\ncommission, fee or reward for a service provided by the person if, in\nproviding the service, the person contravened subsection (1).\n(6) Subsections (4) and (5) apply whether or not anyone has been\nconvicted of an offence against subsection (1).\n(7) A provision in, or applying to, an agreement that purports to exclude\nor change the operation of this section is void.\n\n(8) In this section:\nunlicensed person means a person who—\n(a) is not licensed under this Act; and\n(b) either—\n(i) does not hold an authority (however described) under a\ncorresponding law to be an agent or an employee of an\nagent; or\n(ii) holds an authority mentioned in subparagraph (i) that is\nsuspended.\n","sortOrder":75},{"sectionNumber":"73","sectionType":"section","heading":"Agreements between licensed agents to share","content":"73 Agreements between licensed agents to share\ncommission etc\n(1) An agreement between licensed agents to share a commission, fee or\nreward for a service carried out as licensed agents is unenforceable\nunless the agreement—\n(a) is in writing; and\n(b) is signed by each of the licensed agents; and\n(c) contains the terms prescribed by regulation for this section.\n(2) A provision in, or applying to, the agreement that purports to exclude\nor change the operation of this section (including the terms prescribed\nby regulation for this section) is void.\n(3) This section does not apply to—\n(a) an agreement between licensed agents who are in partnership\ntogether; or\n(b) an agreement between licensed agents if one agent employs the\nother; or\n(c) an agreement, transaction, circumstance or kind of person\nexempted from this section by regulation; or\n\n(d) an agreement for services in relation to land (other than rural\nland), if the land is used or intended to be used only or mainly\nfor commercial, business or industrial purposes.\n(4) A licensed agent commits an offence if the agent enters into an\nagreement that is unenforceable because of subsection (1).\n","sortOrder":76},{"sectionNumber":"74","sectionType":"section","heading":"Duty to notify failures to account","content":"74 Duty to notify failures to account\n(1) A licensed agent commits an offence if the agent—\n(a) finds out that there has been a failure to account by an employee;\nand\n(b) does not tell the commissioner for fair trading about the failure\nwithin 5 business days after the day the agent finds out about it.\nemployee, of a licensed agent, includes a person who performs\nservices for the agent on contract.\n\nOffences—assistant property agents Division 5.3\nDivision 5.3 Offences—assistant property agents\nNote At common law, a licensed agent is responsible, in tort and contract, for\nacts or omissions of the agent’s employees within the scope of the\nemployee’s authority or for the benefit, or purported or intended benefit,\nof the agent or agent’s business.\n","sortOrder":77},{"sectionNumber":"75","sectionType":"section","heading":"Licensed property agent may only employ licensed","content":"75 Licensed property agent may only employ licensed\nproperty agent or registered assistant property agent\n(1) A licensed property agent commits an offence if—\n(a) the agent employs a person to provide a service, in relation to\nthe agent’s business, that a person must be licensed or registered\nto provide; and\n(b) the person provides the service; and\n(c) either––\n(i) the person is not licensed or registered to provide the\nservice; or\n(ii) the person is licensed or registered to provide the service\nbut the licence or registration is suspended.\n","sortOrder":78},{"sectionNumber":"75A","sectionType":"section","heading":"Assistant property agents must not sign agency","content":"75A Assistant property agents must not sign agency\nagreements\n(a) is a registered assistant property agent; and\n(b) signs an agency agreement.\n\nDivision 5.4 Conflicts of interest—real estate and stock and station agents\nagency agreement—see section 100 (1) (a).\n","sortOrder":79},{"sectionNumber":"76","sectionType":"section","heading":"Employee must tell employer about disqualification","content":"76 Employee must tell employer about disqualification\n(1) An employee of a licensed agent commits an offence if the\nemployee—\n(a) is disqualified under—\n(i) section 27 (People disqualified from being licensed) from\nbeing licensed; or\n(ii) section 51 (People disqualified from being registered) from\nbeing registered; and\n(b) does not tell the licensed agent about the disqualification within\n5 business days after the day the employee finds out about it.\nDivision 5.4 Conflicts of interest—real estate and\nstock and station agents\n","sortOrder":80},{"sectionNumber":"77","sectionType":"section","heading":"Licensed real estate and stock and station agents must","content":"77 Licensed real estate and stock and station agents must\nnot act for buyer and seller of land\n(1) A licensed real estate agent or licensed stock and station agent\ncommits an offence if the agent acts as agent for the buyer and seller\nof the same land at the same time.\n\nAdvertisements and other statements Division 5.5\nDivision 5.5 Advertisements and other statements\n","sortOrder":81},{"sectionNumber":"78","sectionType":"section","heading":"When is a statement published?","content":"78 When is a statement published?\nA statement is published if it is—\n(a) included in a newspaper, periodical publication or other\npublication; or\n(b) publicly exhibited in, on, over or under a building, vehicle or\nplace (whether or not a public place and whether on land or\nwater), or in the air in view of people on a street or in a public\nplace; or\n(c) contained in a document given to someone or left on premises\nwhere someone lives or works; or\n(d) broadcast by radio or television; or\n(e) electronically distributed by other means (for example, by\ninclusion on a website).\n","sortOrder":82},{"sectionNumber":"79","sectionType":"section","heading":"False or misleading advertisements","content":"79 False or misleading advertisements\n(1) An agent commits an offence if—\n(a) the agent publishes an advertisement; and\n(b) the advertisement contains a statement about the agent’s\nbusiness; and\n(c) the agent publishes the advertisement knowing that, or being\nreckless about whether, the statement––\n(ii) omits anything without which the statement is misleading.\n(2) Subsection (1) (c) (i) does not apply if the statement is not false or\nmisleading in a material particular.\n\n(3) Subsection (1) (c) (ii) does not apply if the omission does not make\nthe statement misleading in a material particular.\n","sortOrder":83},{"sectionNumber":"80","sectionType":"section","heading":"Meaning of benefit, estimate and selling price for div 5.6","content":"80 Meaning of benefit, estimate and selling price for div 5.6\nbenefit means financial or other benefit.\nestimate includes opinion and belief.\nselling price includes selling price range.\n","sortOrder":84},{"sectionNumber":"81","sectionType":"section","heading":"Meaning of pre-contract information for div 5.6","content":"81 Meaning of pre-contract information for div 5.6\npre-contract information, for an agent acting for the buyer or seller\nof land, means information about—\n(a) any relationship, and the nature of the relationship (whether\npersonal or commercial), the agent has with anyone whom the\nagent has referred, refers, or expects to refer, the seller or buyer\nto for professional services in relation to the sale or purchase;\nand\n(b) whether the agent receives, or expects to receive, any benefit,\nwhether financial or otherwise, from a person whom the agent\nhas referred, refers, or expects to refer, the seller or buyer to for\nprofessional services and, if so, the amount or value of the\nbenefit; and\n\n(c) the amount, value or nature of any benefit anyone (other than\nthe buyer or seller) has received, receives, or expects to receive,\nin relation to the sale or purchase, or for promoting the sale or\npurchase, or for providing a service in relation to the sale or\npurchase, of the land.\nExamples of relationships for par (a)\n1 a family relationship\n2 a business relationship\n3 a fiduciary relationship\n4 a relationship in which a person is accustomed, or obliged, to act in accordance\nwith the directions, instructions, or wishes of the other\nExamples of people who may receive a benefit for par (c)\n1 finance broker\n2 financial adviser\n3 financier\n4 property valuer\n5 lawyer\n6 real estate agent\n","sortOrder":85},{"sectionNumber":"82","sectionType":"section","heading":"Meaning of beneficial interest and obtains a beneficial","content":"82 Meaning of beneficial interest and obtains a beneficial\ninterest for div 5.6\nbeneficial interest in land includes—\n(a) a lease of the land; and\n(b) an option for the purchase of the land or a lease of the land; and\n(c) a general power of appointment over the land.\n\nobtains a beneficial interest—a person (including an agent or\nassistant property agent) obtains a beneficial interest in land if a\nbeneficial interest in the land is obtained by—\n(a) the person; or\n(b) a family member of the person; or\n(c) a corporation with not more than 100 members that the person,\nor a family member of the person, is a member of; or\n(d) a subsidiary of a corporation mentioned in paragraph (c); or\n(e) a corporation that the person, or a family member of the person,\nis an executive officer of; or\n(f) the trustee of a trust that the person, or a family member of the\nperson, is a beneficiary of, if the interest is obtained on behalf of\nthe trust; or\n(g) a member of a firm or partnership that the person, or a family\nmember of the person, is a member of; or\n(h) someone else carrying on a business if the person, or a family\nmember of the person, has a direct or indirect right to participate\nin the profits of the business.\n","sortOrder":86},{"sectionNumber":"83","sectionType":"section","heading":"Agents giving financial and investment advice","content":"83 Agents giving financial and investment advice\n(1) A regulation may make provision in relation to information or\nwarnings that an agent must give to a person if the agent provides\nfinancial or investment advice to the person about the sale or purchase\nof land.\n(2) Despite section 178 (3) (Regulation-making power), a regulation may\nprescribe maximum penalties of not more than 200 penalty units for\noffences for contravention of a regulation made for subsection (1).\n\n","sortOrder":87},{"sectionNumber":"84","sectionType":"section","heading":"Agents must disclose certain information","content":"84 Agents must disclose certain information\n(1) An agent who is acting for a buyer of land must disclose the\npre-contract information to the buyer before the buyer enters into a\ncontract for the purchase of the land.\n(2) A written acknowledgment by a buyer of land that the pre-contract\ninformation was given to the buyer before the buyer entered into a\ncontract in relation to the land is evidence that subsection (1) has been\n(3) An agent who is acting for a seller of land must disclose the\npre-contract information to the seller before the seller enters into a\ncontract for the sale of the land.\n(4) A written acknowledgment by a seller of land that the pre-contract\ninformation was given to the seller before the seller entered into a\ncontract in relation to the land is evidence that subsection (3) has been\n","sortOrder":88},{"sectionNumber":"85","sectionType":"section","heading":"Assistant property agents must disclose certain","content":"85 Assistant property agents must disclose certain\ninformation\n(1) An assistant property agent commits an offence if the assistant\nproperty agent—\n(a) is employed by an agent who is acting for a buyer of land; and\n(b) does not disclose to the buyer the pre-contract information\nbefore the buyer enters into a contract for the purchase of land.\n\n(2) A written acknowledgment by a buyer of land that the pre-contract\ninformation was given to the buyer before the buyer entered into a\ncontract in relation to the land is evidence that subsection (1) has been\n(3) An assistant property agent commits an offence if the assistant\nproperty agent—\n(a) is employed by a licensed agent who is acting for a seller of land;\nand\n(b) does not disclose to the seller the pre-contract information\nbefore the seller enters into a contract for the sale of the land.\n(4) A written acknowledgment by a seller of land that the pre-contract\ninformation was given to the seller before the seller entered into a\ncontract in relation to the land is evidence that subsection (3) has been\n","sortOrder":89},{"sectionNumber":"86","sectionType":"section","heading":"Agents must not obtain beneficial interest in land","content":"86 Agents must not obtain beneficial interest in land\n(1) An agent commits an offence if the agent—\n(a) acts for a seller of land; and\n(b) intentionally—\n(i) obtains a beneficial interest in the land; or\n(ii) is in any way involved in someone else obtaining a\nbeneficial interest in the land.\nMaximum penalty: 200 penalty units, imprisonment for 2 years or\n\n(2) Subsection (1) does not apply to an agent in relation to a beneficial\ninterest in land if—\n(a) before the interest is obtained—\n(i) the agent fully discloses to the seller the circumstances\nsurrounding the obtaining of the beneficial interest; and\n(ii) the seller agrees in writing to the obtaining of the interest;\nand\n(b) the seller—\n(i) does not pay to the agent any commission or reward for the\nsale of the land; or\n(ii) if the agent is a licensed agent––agrees in writing, before\nentering into a contract for the sale of the land, to the\npayment of a commission or reward to the agent for the\nsale.\n","sortOrder":90},{"sectionNumber":"87","sectionType":"section","heading":"Assistant property agents must not obtain beneficial","content":"87 Assistant property agents must not obtain beneficial\ninterest in land\n(1) An assistant property agent commits an offence if—\n(a) the assistant property agent is employed by an agent; and\n(b) the agent acts for a seller of land; and\n(c) the assistant property agent intentionally—\n(i) obtains a beneficial interest in the land; or\n(ii) is in any way involved in someone else obtaining a\nbeneficial interest in the land.\n\n(2) This section does not apply to an assistant property agent in relation\nto a beneficial interest in land if—\n(a) before the interest is obtained—\n(i) the assistant property agent fully discloses to the seller the\ncircumstances surrounding the obtaining of the beneficial\ninterest; and\n(ii) the seller agrees in writing to the obtaining of the interest;\nand\n(b) the seller—\n(i) does not pay to the assistant property agent any\ncommission or reward for the sale of the land; or\n(ii) if the assistant property agent is a registered assistant\nproperty agent––agrees in writing before entering into a\ncontract for the sale of the land, to the payment of a\ncommission or reward to the assistant property agent for\nthe sale.\n","sortOrder":91},{"sectionNumber":"88","sectionType":"section","heading":"False representations to sellers or buyers","content":"88 False representations to sellers or buyers\n(1) An agent commits an offence if the agent––\n(a) acts for a seller of land; and\n(b) makes a dishonest representation about the agent’s estimate of\nthe selling price of the land––\n(i) to the seller; or\n(ii) to a buyer; or\n(iii) in an advertisement or other publication.\n\n(2) A registered assistant property agent commits an offence if the\nassistant property agent––\n(a) is employed by a licensed agent who is acting for a seller of land;\nand\n(b) makes a dishonest representation about the assistant property\nagent’s estimate of the selling price of the land––\n(i) to the seller; or\n(ii) to a buyer; or\n(iii) in an advertisement or other publication.\n(3) For this section, a representation is dishonest if––\n(a) the representation is dishonest according to the standards of\nordinary people; and\n(b) the maker of the representation knows that the representation is\ndishonest according to those standards.\n","sortOrder":92},{"sectionNumber":"89","sectionType":"section","heading":"Requirement to substantiate selling price estimates","content":"89 Requirement to substantiate selling price estimates\n(1) The commissioner for fair trading may, by written notice to a licensed\nagent or registered assistant property agent, require the agent or\nassistant property agent to give to the commissioner the evidence that\nthe agent or assistant property agent relied on in the making of any\nrepresentation about the agent’s or assistant property agent’s estimate\nof the selling price of land—\n(a) to a seller of the land; or\n(b) to a buyer of the land; or\n(c) in an advertisement or other publication.\n(2) The notice must state a reasonable period for complying with the\nnotice.\n\n(3) A person commits an offence if the person fails to comply with a\nnotice given to the person under this section within the stated period.\n","sortOrder":93},{"sectionNumber":"89A","sectionType":"section","heading":"Proposed contracts for sale of residential property","content":"89A Proposed contracts for sale of residential property\n(1) An agent commits an offence if—\n(a) the agent offers residential property for sale; and\n(b) the required documents are not all available at the agent’s place\nof business for inspection by a prospective buyer (or an agent\nfor a prospective buyer) at all reasonable times when an offer to\nbuy the property may be made to the agent.\n(2) An assistant property agent commits an offence if—\n(a) the assistant property agent is employed by an agent who is\nacting for a seller of residential property; and\n(b) the assistant property agent offers the residential property for\nsale; and\n(c) the required documents are not all available at the agent’s place\nof business for inspection by a prospective buyer (or an agent\nfor a prospective buyer) at all reasonable times when an offer to\nbuy the property may be made to the assistant property agent.\n(3) An agent or assistant property agent offers residential property for\nsale if the agent or assistant property agent, expressly or by\nimplication—\n(a) indicates that the property is for sale or is to be auctioned at any\nfuture time; or\n\n(b) offers to sell the property; or\n(c) invites an offer to buy the property; or\n(d) indicates that someone may be willing to grant an option to buy\nthe property.\nExamples for par (a)\n1 The agent or assistant property agent advertises or promotes the property in a\nway that, in the circumstances, may reasonably be taken to indicate that the\nproperty is or may be for sale.\n","sortOrder":94},{"sectionNumber":"2","sectionType":"section","heading":"The agent or assistant property agent places a sign on or near the property that,","content":"2 The agent or assistant property agent places a sign on or near the property that,\nin the circumstances, may reasonably be taken to indicate that the property is\nor may be for sale.\n3 The agent or assistant property agent advertises or in any way gives notice that\nthe property is to be auctioned at a future time.\n4 The agent places on display particulars or a description of, or a photograph,\ndrawing or other representation of, the property in or on any premises, vehicle\nor place where the agent carries on business as a real estate agent.\n5 The agent or assistant property agent shows the property to a prospective buyer\nor gives the address of the property to a prospective buyer.\n(5) This section does not apply to—\n(a) anything done by an agent when acting for a prospective buyer\nof residential property; or\n(b) a contract, or proposed contract, for the sale of residential\nproperty if the contract arises from the exercise of an option to\nbuy the property and—\n(i) the option was contained in a will or sublease; or\n(ii) the period for exercise of the option was longer than\n60 days.\n(6) A regulation may prescribe exceptions to this section.\n\nprospective buyer, in relation to residential property, includes a\nprospective grantee of an option to buy the property.\nrequired documents—see the Civil Law (Sale of Residential\nProperty) Act 2003, section 9.\nresidential property—see the Civil Law (Sale of Residential\nProperty) Act 2003, section 8.\n","sortOrder":95},{"sectionNumber":"89B","sectionType":"section","heading":"Contracts for sale of residential property","content":"89B Contracts for sale of residential property\n(1) An agent or assistant property agent may do any of the following:\n(a) insert into a proposed contract for the sale of residential property\nany of the following:\n(i) the name and address of, and contact details for, the buyer;\n(ii) the name and address of, and contact details for, the\nbuyer’s lawyer;\n(iii) the purchase price;\n(iv) the date of the contract;\n(b) insert in, or delete from, a proposed contract for the sale of\nresidential property a description of any furnishings or goods to\nbe included in the sale of the property;\n(c) take part in an exchange of contracts or the making of a contract\nfor the sale of residential property.\n(2) An agent or assistant property agent must not insert a special\ncondition into a proposed contract for the sale of residential property.\nMaximum penalty: 10 penalty units.\n(3) An offence against subsection (2) is a strict liability offence.\n\nOther offences—agents and assistant property agents Division 5.9\n(4) If a prospective party to a proposed contract for the sale of residential\nproperty for whom an agent or assistant property agent acts tells the\nagent or assistant property agent, or it is apparent from the proposed\ncontract, that a lawyer is or will be acting for the party, the agent or\nassistant property agent must not take part in the exchange of\ncontracts or the making of the contract unless expressly authorised to\ndo so by the party or the lawyer.\n(5) A contract is not invalid only because of the failure of an agent or\nassistant property agent to comply with subsection (4).\n(6) An agent or assistant property agent must not charge a fee for\nanything authorised to be done under this section.\nresidential property—see the Civil Law (Sale of Residential\nProperty) Act 2003, section 8.\nDivision 5.9 Other offences—agents and assistant\n","sortOrder":96},{"sectionNumber":"97","sectionType":"section","heading":"Lending licence certificate","content":"97 Lending licence certificate\n(1) A licensed agent commits an offence if the agent lets out, hires or\nlends the agent’s licence certificate to someone else.\n(2) A licensed agent commits an offence if the agent lets someone else\nuse the agent’s licence certificate.\n(4) If a court convicts a licensed agent of an offence against this section,\nthe agent’s licence is cancelled under this section.\n\nDivision 5.9 Other offences—agents and assistant property agents\n","sortOrder":97},{"sectionNumber":"98","sectionType":"section","heading":"Lending registration certificate","content":"98 Lending registration certificate\n(1) A registered assistant property agent commits an offence if the\nassistant property agent lets out, hires or lends the assistant property\nagent’s registration certificate to someone else.\n(2) A registered assistant property agent commits an offence if the\nassistant property agent lets someone else use the assistant property\nagent’s registration certificate.\n(4) If a court convicts a registered assistant property agent of an offence\nagainst this section, the assistant property agent’s registration is\ncancelled under this section.\n\nEmployment agents Part 5A\n","sortOrder":98},{"sectionNumber":"98A","sectionType":"section","heading":"Meaning of carries on business as an employment","content":"98A Meaning of carries on business as an employment\nagent—pt 5A\n(1) For this part, a person carries on business as an employment agent\nif the person provides, or offers to provide, any of the following\nservices for a principal for reward:\n(a) finding, or helping to find, a person to carry out work for the\nprincipal;\n(b) any other service prescribed by regulation.\n(2) For subsection (1), it does not matter whether the work is to be carried\nout—\n(a) under a contract of employment or otherwise; or\n(b) in or outside the ACT.\n","sortOrder":99},{"sectionNumber":"98B","sectionType":"section","heading":"Employment agents must only take fee from employer","content":"98B Employment agents must only take fee from employer\n(a) the person carries on business as an employment agent; and\n(b) the person asks for, or accepts, a benefit from another person for\na service provided as part of carrying on the business; and\n(c) the other person is not—\n(i) seeking to have work carried out; or\n(ii) a model or performer.\n\nmodel includes a person employed—\n(a) to pose for a photographer, painter, sculptor or other artist; or\n(b) to wear and display clothes or other articles to potential\ncustomers or the public.\nperformer means an actor, singer, dancer, musician, acrobat, disc\njockey, compere or any other kind of performer.\n\nAgency agreements Part 6\n","sortOrder":100},{"sectionNumber":"99","sectionType":"section","heading":"Application of pt 6","content":"99 Application of pt 6\nThis part applies to services provided in relation to––\n(a) rural land; and\n(b) other land not used or intended to be used only or mainly for\ncommercial, business or industrial purposes; and\n(c) a business or professional practice.\n","sortOrder":101},{"sectionNumber":"100","sectionType":"section","heading":"No commission or expenses without agency agreement","content":"100 No commission or expenses without agency agreement\n(1) A licensed property agent is not entitled to commission or expenses\nfrom a principal for services provided by the agent for the principal\nunless—\n(a) the services were carried out under a written agreement signed\nby the principal and the agent (an agency agreement); and\n(b) the agency agreement––\n(i) identifies the rebates, discounts, commissions and\nexpenses that the agent may receive; and\n(ii) estimates the amount of any rebates, discounts,\ncommissions and expenses; and\n(c) the agency agreement complies with the regulations; and\n(d) a copy of the agency agreement signed by the agent was given\nto the principal within 48 hours after the agreement was signed\nby the principal.\n(2) A court in which a proceeding is taken by the licensed property agent\nto recover commission or expenses from the principal may order that\nthe commission or expenses be completely or partly recovered even\nthough the agent has failed to comply with subsection (1) (d).\n\n(3) However, the court may make the order only if satisfied that—\n(a) the licensed property agent’s failure to give a copy of the agency\nagreement to the principal within the 48 hours was either\ninadvertent or caused by something beyond the agent’s control;\nand\n(b) the commission or expenses to be recovered if the order is made\nare fair and reasonable; and\n(c) failure to make the order would be unjust.\n\nDefinitions for pt 7 Division 7.1\nPart 7 Trust accounts—licensed\nDivision 7.1 Definitions for pt 7\n101 Meaning of licensed property agent—pt 7\nlicensed property agent includes any of the following:\n(a) a person who is no longer a licensed property agent but holds\ntrust money received while licensed;\n(b) the personal representative of a licensed property agent who\ndied while holding trust money, if the representative holds the\ntrust money;\n(c) the liquidator of a corporation that went into liquidation while\nbeing a licensed property agent and holding trust money, if the\ncorporation holds the trust money.\n","sortOrder":102},{"sectionNumber":"102","sectionType":"section","heading":"What is trust money?","content":"102 What is trust money?\n(1) For this Act, money is trust money if it is received––\n(a) by a licensed property agent in relation to the business for which\nthe agent is licensed on behalf of someone else; and\n(b) on the basis that the money is to be paid to the other person or\nas the other person directs.\n(2) However, money received by a licensed property agent as bond under\nthe Leases (Commercial and Retail) Act 2001, part 7 (Bonds and\nguarantees) is not trust money for this Act.\n\n","sortOrder":103},{"sectionNumber":"103","sectionType":"section","heading":"Trust account details","content":"103 Trust account details\ndetails, of a trust account, means the following details:\n(a) the name and address of the authorised deposit-taking institution\nwhere the trust account is kept; and\n(b) the title of the account; and\n(c) the identifying number the institution has given the account.\n","sortOrder":104},{"sectionNumber":"104","sectionType":"section","heading":"Meaning of ADI business day for div 7.2","content":"104 Meaning of ADI business day for div 7.2\nADI business day, for a trust account, means a day when the branch\nof the authorised deposit-taking institution where the trust account is\nkept is open for business.\n","sortOrder":105},{"sectionNumber":"105","sectionType":"section","heading":"Opening trust accounts","content":"105 Opening trust accounts\n(1) A licensed property agent must keep an account (a trust account) at\nan authorised deposit-taking institution in the ACT under a name that\nincludes—\n(a) the name of the agent or, if the agent carries on business under\na business name or in partnership, the business name or the name\nof the partnership; and\n(b) the words ‘trust account’.\n(2) A licensed property agent may keep more than 1 trust account.\n(3) When opening a trust account, a licensed property agent must tell the\nauthorised deposit-taking institution, in writing, that the account is a\ntrust account for this Act.\n\n(4) A licensed property agent must give to the commissioner for fair\ntrading, in writing, the details of each trust account held by the agent\nand, if the agent opens a new trust account, of each new trust account.\n(5) The details must be given to the commissioner for fair trading within\n7 business days after the day the agent becomes a licensed property\nagent or the agent opens the new trust account.\nNote Trust money received by a licensed property agent must be paid into the\nagent’s trust account by the next ADI business day after the day the agent\nreceives the money (see s 107 (2)).\n(6) A licensed property agent must ensure that the words ‘trust account’\nappear in every mention of a trust account in the records of the agent\nand every cheque drawn on a trust account.\n(7) A licensed property agent may, under section 105A, be exempted\nfrom the requirements under this section.\n","sortOrder":106},{"sectionNumber":"105A","sectionType":"section","heading":"Opening trust accounts—exemptions","content":"105A Opening trust accounts—exemptions\n(1) If a licensed property agent does not receive or hold trust money, the\ncommissioner for fair trading may, in writing, exempt the agent from\nthe requirements under section 105 (Opening trust accounts).\n(2) The exemption ends if the licensed property agent receives or holds\ntrust money.\n(3) The exemption may be conditional.\n(4) A regulation may prescribe the matters to be considered by the\ncommissioner for fair trading in deciding whether to exempt a\nlicensed property agent under subsection (1), or amend or revoke an\nexemption.\n(5) A condition under this section may be put or amended as if it were a\ncondition on a licence.\nNote The procedure for putting or amending licence conditions is dealt with in\ns 34 (2), (3) and (4).\n\n","sortOrder":107},{"sectionNumber":"106","sectionType":"section","heading":"Closing trust accounts","content":"106 Closing trust accounts\n(1) A licensed property agent commits an offence if the agent—\n(a) closes a trust account; and\n(b) does not tell the commissioner for fair trading, in writing, of the\nclosure within 10 business days after the day the account is\nclosed.\n","sortOrder":108},{"sectionNumber":"107","sectionType":"section","heading":"Dealing with trust money","content":"107 Dealing with trust money\n(1) A licensed property agent commits an offence if the agent deals with\ntrust money otherwise than as directed by the person for whom the\nmoney is held on trust.\n(2) A licensed property agent commits an offence if the agent—\n(a) receives trust money; and\n(b) does not pay the money into a trust account kept by the agent by\nthe next ADI business day after the day the agent receives the\nmoney.\n(3) A licensed property agent commits an offence if––\n(a) trust money is paid by direct deposit or electronic funds transfer\ninto another account kept by the agent; and\n(b) the agent does not pay the money into a trust account on the next\nADI business day after the day the agent becomes aware of the\npayment.\n\n(4) A licensed property agent commits an offence if the agent pays an\namount out of a trust account maintained by the agent otherwise\nthan—\n(a) by electronic transfer; or\n(b) by using a cheque that—\n(i) is expressed to be payable to a person specified in the\ncheque; and\n(ii) clearly has across the front of the cheque the addition of\n2 parallel transverse lines with the words ‘not negotiable’\nbetween, or substantially between, the lines.\nNote This cheque is a ‘crossed cheque’ (see Cheques Act 1986 (Cwlth), s 53).\n(6) Trust money held by a licensed property agent—\n(a) is not available for payment of the debts of the agent; and\n(b) must not be attached, or taken in execution, under a court order\nor court process at the request of a creditor of the agent.\n(7) An authorised deposit-taking institution with which a trust account is\nkept must not enforce any liability that the licensed property agent\nmay have towards the authorised deposit-taking institution against\nany amount held in the account, whether by way of claim, set-off,\ncounterclaim, charge or otherwise.\n","sortOrder":109},{"sectionNumber":"107A","sectionType":"section","heading":"Assistant property agents must not withdraw trust money","content":"107A Assistant property agents must not withdraw trust money\n(1) A registered assistant property agent commits an offence if the\nassistant property agent withdraws money from a trust account.\n\nwithdraw money—see section 141 (4).\n","sortOrder":110},{"sectionNumber":"108","sectionType":"section","heading":"Licensed property agents to notify of overdrawn trust","content":"108 Licensed property agents to notify of overdrawn trust\naccounts\n(1) A licensed property agent commits an offence if the agent—\n(a) finds out that the agent’s trust account has become overdrawn;\nand\n(b) does not, within 5 business days after the day the agent finds out,\ntell the commissioner for fair trading in writing that the account\nhas become overdrawn and provide—\n(i) details of the overdrawn account; and\n(ii) the amount by which the account is overdrawn; and\n(iii) the reason for the account being overdrawn.\n","sortOrder":111},{"sectionNumber":"109","sectionType":"section","heading":"Interest on trust accounts","content":"109 Interest on trust accounts\n(1) On the 10th ADI business day in each month, the authorised\ndeposit-taking institution with which a trust account has been kept\nduring the previous month must—\n(a) work out the interest at the specified rate on the daily balances,\nduring the previous month, of the amount held in each account\nthat the authorised deposit-taking institution has been notified is\na trust account; and\n(b) pay to the Territory an amount equal to the total of the amounts\nof interest worked out.\n\n(2) For subsection (1) (a), the specified rate, for a particular day, is 70%\nof the yield of authorised deposit-taking institution accepted bills\npublished by the Reserve Bank of Australia for the day.\n(3) An authorised deposit-taking institution may deduct from an amount\npayable under subsection (1) (b) an amount equal to any tax or charge\nthat the authorised deposit-taking institution is required, under a law\nof a Territory, Commonwealth or State, to pay in relation to the\namount payable.\n(4) This section does not apply in relation to a trust account exempted by\n","sortOrder":112},{"sectionNumber":"109A","sectionType":"section","heading":"Change of owners corporation managing agent—former","content":"109A Change of owners corporation managing agent—former\nagent to give statement and records\n(1) This section applies if a person stops being the owners corporation\nmanaging agent for an owners corporation.\n(2) The person must, not later than 14 days after the person stops being\nthe managing agent, give the owners corporation—\n(a) a certified copy of the owners corporation’s accounts; and\n(b) the records about the management of the owners corporation.\nowners corporation managing agent means a person appointed as\nmanager of an owners corporation for a units plan under the Unit\nTitles (Management) Act 2011.\n\nDivision 7.3 Periodic returns and quarterly statements\nDivision 7.3 Periodic returns and quarterly\nstatements\n110 Monthly returns by authorised deposit-taking institutions\n(1) An authorised deposit-taking institution commits an offence if—\n(a) a trust account is kept with the institution at any time during a\nmonth; and\n(b) the institution does not give to the commissioner for fair trading\nwithin 10 business days after the end of the month a written\nreport that sets out, for the month, details of—\n(i) each trust account kept with the institution at any time\nduring the month; and\n(ii) the interest worked out in relation to the trust accounts and\npaid under section 109.\n(3) This section does not apply in relation to a trust account exempted by\n","sortOrder":113},{"sectionNumber":"111","sectionType":"section","heading":"Quarterly statements by licensed property agents","content":"111 Quarterly statements by licensed property agents\n(1) A licensed property agent must, within 15 business days after the end\nof each quarter, prepare a quarterly statement for the quarter.\n(2) The quarterly statement must be made up as at the close of business\non the last business day of the quarter to which the statement relates.\n(3) The quarterly statement must set out—\n(a) the name of each person (the person) on whose behalf the\nlicensed property agent held trust money; and\n(b) the amount of trust money held in the agent’s trust accounts on\nbehalf of the person; and\n\nPeriodic returns and quarterly statements Division 7.3\n(c) the amount of trust money held in cash by the agent on behalf of\nthe person; and\n(d) the amount in each trust account kept by the agent.\n(4) In working out an amount for subsection (3) (d), a cheque drawn on\nan account but not presented is taken to have been paid.\n(5) The licensed property agent must keep the quarterly statement for\n5 years after the end of the quarter to which the statement relates.\n(6) The licensed property agent must give the quarterly statement to the\nauditor who audits the trust account records of the agent for the audit\nperiod that includes the quarter to which the statement relates.\nquarter, for a licensed property agent, means the 3 months beginning\non the 1st day of the audit period for the agent and each following\nperiod of 3 months.\n\n","sortOrder":114},{"sectionNumber":"112","sectionType":"section","heading":"Meaning of qualified auditor for div 7.4","content":"112 Meaning of qualified auditor for div 7.4\nqualified auditor means a person who has the qualifications\ndetermined under section 114.\n","sortOrder":115},{"sectionNumber":"113","sectionType":"section","heading":"Audit period","content":"113 Audit period\n(1) The commissioner for fair trading may, by written notice given to a\nlicensed property agent, fix a period as the agent’s audit period.\n(2) The audit period for a licensed property agent for whom no period is\nfixed under subsection (1) is each financial year.\n","sortOrder":116},{"sectionNumber":"114","sectionType":"section","heading":"Qualifications for auditors","content":"114 Qualifications for auditors\n(1) The Minister may determine the qualifications necessary for auditors\nunder this Act.\n(2) A determination under subsection (1) is a disallowable instrument.\n","sortOrder":117},{"sectionNumber":"115","sectionType":"section","heading":"Requirement for audit","content":"115 Requirement for audit\n(a) the person—\n(i) is or was a licensed property agent; or\n(ii) is a personal representative of a licensed property agent;\nand\n(b) the person held trust money during an audit period applying to\nthe agent; and\n\nAudit of trust accounts Division 7.4\n(c) within 3 months after the end of the audit period or any longer\nperiod allowed by the commissioner for fair trading, the\nperson’s records relating to the trust money have not been\naudited by a qualified auditor.\n","sortOrder":118},{"sectionNumber":"117","sectionType":"section","heading":"Audit obligations of partners","content":"117 Audit obligations of partners\nIf a provision of this division is complied with by a licensed property\nagent in relation to the audit of records of a partnership, the provision\nis taken to have been complied with by each partner.\n","sortOrder":119},{"sectionNumber":"118","sectionType":"section","heading":"Auditor reports","content":"118 Auditor reports\n(1) An auditor’s report of a licensed property agent’s records must state\nwhether, in the auditor’s opinion—\n(a) the agent has kept the accounting and other records relating to\ntrust money in accordance with this part; and\n(b) the records were available for the auditor’s examination within\na reasonable time after the auditor asked for them; and\n(c) the agent complied with the auditor’s requirements within a\nreasonable time; and\n(d) there is any discrepancy relating to a trust account; and\n(e) any records to which the audit relates are kept in a way that does\nnot allow them to be properly audited or are missing; and\n(f) records that are necessary for the proper audit of other records\nare missing; and\n(g) there is anything else in relation to the records about which the\ncommissioner for fair trading or the agent should be informed.\n\n(2) As soon as practicable after finishing the audit, the auditor must\nprepare a report of the result of the audit and give the report to the\ncommissioner for fair trading and a copy to the licensed property\nagent.\n","sortOrder":120},{"sectionNumber":"119","sectionType":"section","heading":"Unclaimed trust money held by licensed property agents","content":"119 Unclaimed trust money held by licensed property agents\n(1) This section applies if, on 1 July of a year, a licensed property agent\nholds trust money received by the agent more than 3 years before that\nday (the unclaimed money).\n(2) The licensed property agent must give the commissioner for fair\ntrading a statement under section 122 (Content of statements), made\nup as at 1 July, about the unclaimed money by 31 July of the same\nyear.\n(3) The regulations may provide that subsection (2) does not apply in\nrelation to unclaimed money exempted by regulation (the exempt\nunclaimed money).\n(4) The licensed property agent must keep a written record of any exempt\nunclaimed money held by the agent.\n","sortOrder":121},{"sectionNumber":"120","sectionType":"section","heading":"Trust money held by former licensed property agents","content":"120 Trust money held by former licensed property agents\n(1) This section applies if—\n(a) a person ceases to be a licensed property agent; and\n(b) at the time the person ceases to be a licensed property agent, the\nperson holds trust money.\n(2) Within 3 months after the day the person ceases to be a licensed\nproperty agent, the person must give to the commissioner for fair\ntrading a statement under section 122 (Content of statements) about\nthe trust money, made up as at the day the person ceased to be a\nlicensed property agent.\n\nUnclaimed trust money Division 7.5\n","sortOrder":122},{"sectionNumber":"121","sectionType":"section","heading":"Trust money held by personal representatives of licensed","content":"121 Trust money held by personal representatives of licensed\n(1) This section applies to a person who is the personal representative of\na licensed property agent who held trust money at the time of his or\nher death.\n(2) Within 3 months after the day the licensed property agent died, the\nperson must give to the commissioner for fair trading a statement\nunder section 122 (Content of statements) about the trust money,\nmade up as at the day of the licensed property agent’s death.\n","sortOrder":123},{"sectionNumber":"122","sectionType":"section","heading":"Content of statements","content":"122 Content of statements\nA statement under this section must contain details of—\n(a) the name and address of each person for whom or on whose\nbehalf trust money is held; and\n(b) the amount held for each person; and\n(c) for each person––the purpose for which the money was paid to\nthe person giving the statement or licensed property agent by\nwhom the trust account was kept.\n","sortOrder":124},{"sectionNumber":"123","sectionType":"section","heading":"Duties of commissioner in relation to unclaimed money in","content":"123 Duties of commissioner in relation to unclaimed money in\ntrust accounts\n(1) Within 6 months after the day the commissioner for fair trading\nreceives a statement under section 122, the commissioner must\nprepare a notice—\n(a) containing details of—\n(i) the name and last-known address of each person on whose\nbehalf money is held; and\n(ii) the amount of money held on behalf of the person; and\n\n(b) stating that, if the money is not paid out of the trust account in\nwhich it is held within 3 months after the day the notice is\nnotified under the Legislation Act, the person holding the money\nwill be required to pay it to the public trustee and guardian.\n(2) The notice is a notifiable instrument.\n(3) The commissioner for fair trading must give additional public notice\nas soon as practicable after preparing the notice.\nnewspaper circulating in the ACT (see Legislation Act, dict, pt 1). The\nrequirement in s (3) is in addition to the requirement for notification on\nthe legislation register as a notifiable instrument.\n","sortOrder":125},{"sectionNumber":"124","sectionType":"section","heading":"Payment of unclaimed money to public trustee and","content":"124 Payment of unclaimed money to public trustee and\nguardian\n(1) This section applies if—\n(a) a notice under section 123 (2) is notified under the Legislation\nAct; and\n(b) the period of 3 months after the day the notice is notified has\nended.\n(2) The commissioner for fair trading may, by written notice to a person\nholding money to which the notice relates, require the person, within\na stated period of at least 10 business days—\n(a) to pay any of the money still being held by the person to the\npublic trustee and guardian; and\n(b) to give the commissioner for fair trading a statement containing\ndetails of any payments made out of the money since the\nstatement under section 122 (Content of statements) relating to\nthe money was given.\nNote A person claiming to be entitled to money paid to the public trustee and\nguardian under this section may apply to the public trustee and guardian\nfor payment of the money (see Unclaimed Money Act 1950, s 27).\n\nUnclaimed trust money Division 7.5\n(3) A licensed property agent who is given a notice under subsection (2)\nmust comply with the notice.\n(4) A person commits an offence if—\n(a) the person is a former licensed property agent or the personal\nrepresentative of a licensed property agent; and\n(b) the commissioner for fair trading gives the person a notice under\nsubsection (2); and\n(c) the person does not comply with the notice.\nMaximum penalty: 20 penalty units.\n(5) An offence against subsection (4) is a strict liability offence.\n\n","sortOrder":126},{"sectionNumber":"127","sectionType":"section","heading":"What records must be kept","content":"127 What records must be kept\n(1) A licensed agent must record the material details of every transaction\nthe agent conducts.\n(2) A regulation may prescribe other records that a licensed agent must\nmake.\n(3) A licensed agent must make the prescribed records.\n(4) A licensed agent commits an offence if the agent fails to comply with\nsubsection (1) or (3).\n(5) A person commits an offence if the person—\n(a) is a licensed agent or a former licensed agent; and\n(b) has made a record under subsection (1) or the regulations; and\n(c) does not keep the record for 5 years beginning on 30 September\nafter the making of the record.\nMaximum penalty: 30 penalty units.\nExample—not keep record\nan electronic record made by a licensed agent is lost and no backup of the record\nwas made\n(6) An offence against this section is a strict liability offence.\n","sortOrder":127},{"sectionNumber":"128","sectionType":"section","heading":"How records must be kept","content":"128 How records must be kept\n(1) A licensed agent commits an offence if the agent—\n(a) keeps a record that the agent is required to keep under\nsection 127; and\n\nRecord keeping Division 8.1\n(b) fails to keep the record in at least 1 of the following ways:\n(i) at the agent’s main place of business;\n(ii) in an electronic form that is immediately accessible by the\nagent at their main place of business;\n(iii) if the commissioner for fair trading has agreed in writing\nthat the record may be kept in another way—in that way.\n","sortOrder":128},{"sectionNumber":"129","sectionType":"section","heading":"Presumption that records made by licensed agent","content":"129 Presumption that records made by licensed agent\nAn entry in a record kept under section 127 (What records must be\nkept) and kept in accordance with section 128 is taken, unless the\ncontrary is proved, to have been made by the agent or under the\nagent’s authority.\n","sortOrder":129},{"sectionNumber":"130","sectionType":"section","heading":"Receipts","content":"130 Receipts\n(1) If a licensed agent receives trust money as a licensed agent, the agent\nmust give a receipt for the money.\n(2) The receipt must—\n(a) be given to the person who gave the licensed agent the money;\nand\n(b) describe the subject matter or reason why the money was given\nto the agent.\n(3) A licensed agent must keep a copy of a receipt given by the agent\nunder this section.\n(4) This section does not apply to money that is credited electronically or\npaid directly to a licensed agent’s account.\n\n","sortOrder":130},{"sectionNumber":"Div 8","sectionType":"division","heading":"2 Freezing accounts—licensed property","content":"Division 8.2 Freezing accounts—licensed property\n","sortOrder":131},{"sectionNumber":"131","sectionType":"section","heading":"Definitions—div 8.2","content":"131 Definitions—div 8.2\naccount, for a licensed property agent, means—\n(a) a trust account; or\n(b) any other account in which the licensed property agent has an\ninterest, including an account that is not a trust account but in\nwhich trust money is held.\nlicensed property agent includes a former licensed property agent or\nthe personal representative of a licensed property agent.\nstop direction means a direction under section 132.\n","sortOrder":132},{"sectionNumber":"132","sectionType":"section","heading":"Commissioner may freeze accounts","content":"132 Commissioner may freeze accounts\n(1) If it appears to the commissioner for fair trading that trust money may\nhave been stolen, misappropriated or misapplied, the commissioner\nmay, in writing, direct that—\n(a) no amount be withdrawn from a stated account without the\ncommissioner’s written approval; or\n(b) a stated account be operated only in accordance with stated\nconditions; or\n(c) if a claim has been made against the compensation fund in\nrelation to the trust money—all or a stated part of the amount to\nthe credit of a stated account be paid to the commissioner within\na stated reasonable time.\n\nFreezing accounts—licensed property agents Division 8.2\n(2) The direction must—\n(a) identify each account to which it relates; and\n(b) be given to—\n(i) the holder of each account to which it relates; and\n(ii) the authorised deposit-taking institution with which the\naccount is kept.\n","sortOrder":133},{"sectionNumber":"133","sectionType":"section","heading":"Institutions to comply with directions","content":"133 Institutions to comply with directions\n(1) An authorised deposit-taking institution commits an offence if—\ndirection under section 132 (1) (a) in relation to the account; and\n(c) the institution allows an amount to be withdrawn from the\naccount without the commissioner’s written approval.\n(2) An authorised deposit-taking institution commits an offence if—\ndirection under section 132 (1) (b) in relation to the account; and\n(c) the institution allows the account to be operated otherwise than\nin accordance with the conditions in the direction.\n(3) An authorised deposit-taking institution commits an offence if—\ndirection under section 132 (1) (c) in relation to the account; and\n\n(c) the institution does not pay to the commissioner the amount that\nthe commissioner has directed be paid within the time stated in\nthe direction.\n","sortOrder":134},{"sectionNumber":"134","sectionType":"section","heading":"Accounts to be operated only in accordance with","content":"134 Accounts to be operated only in accordance with\ndirections\n(a) the person keeps an account; and\n(b) a stop direction is in force in relation to the account; and\n(c) the person has been given a copy of the direction; and\n(d) the person—\n(i) writes a cheque on the account; or\n(ii) withdraws money from the account; and\n(e) the writing of the cheque or withdrawal of the money\ncontravenes the direction.\n","sortOrder":135},{"sectionNumber":"135","sectionType":"section","heading":"Commissioner may operate accounts","content":"135 Commissioner may operate accounts\n(1) The commissioner for fair trading may operate an account in relation\nto which a stop direction is in force if satisfied that—\n(a) it is necessary that the account be operated; and\n(b) the account holder is unable or unwilling to operate the account.\n(2) Before operating an account under this section the commissioner for\nfair trading must give the authorised deposit-taking institution with\nwhich the account is kept a written notice to the effect that the\noperation of the account will be under this section.\n\nFreezing accounts—licensed property agents Division 8.2\n","sortOrder":136},{"sectionNumber":"136","sectionType":"section","heading":"Notification of withdrawal of stop directions","content":"136 Notification of withdrawal of stop directions\nAs soon as possible after withdrawing a stop direction the\ncommissioner for fair trading must give written notice of the\nwithdrawal to each entity that had been notified of the giving of the\ndirection.\n","sortOrder":137},{"sectionNumber":"137","sectionType":"section","heading":"No liability for complying with stop directions","content":"137 No liability for complying with stop directions\nA person does not incur liability to anyone else because the person\ncomplies with a stop direction.\n\n","sortOrder":138},{"sectionNumber":"138","sectionType":"section","heading":"Meaning of administrator—pt 9","content":"138 Meaning of administrator—pt 9\nadministrator means an administrator appointed under section 139.\n","sortOrder":139},{"sectionNumber":"139","sectionType":"section","heading":"When administrators may be appointed","content":"139 When administrators may be appointed\n(1) The commissioner for fair trading may appoint someone to administer\nthe business of a licensed agent or former licensed agent if any of the\nfollowing occurs:\n(a) the agent’s licence is suspended or cancelled;\n(b) the agent is disqualified from holding a licence;\n(c) the agent’s licence has expired;\n(d) the agent surrenders the licence under section 39;\n(e) the agent is missing and cannot be located after making\nreasonable enquiries;\n(f) the agent dies.\nNote 1 For the making of appointments (including acting appointments), see the\nLegislation Act, pt 19.3.\nNote 2 In particular, a person may be appointed for a particular provision of a\nlaw (see Legislation Act, s 7 (3)) and an appointment may be made by\nnaming a person or nominating the occupant of a position (see Legislation\nAct, s 207).\n(2) The commissioner for fair trading may appoint someone to administer\nthe business of a person who is not a licensed agent if the person is—\n(a) carrying on business as an agent; or\n(b) pretending to be a licensed agent.\n\nAppointment of administrators Part 9\n","sortOrder":140},{"sectionNumber":"140","sectionType":"section","heading":"Agents not to be involved in business under","content":"140 Agents not to be involved in business under\nadministration\nWhile the appointment of an administrator is in force, the agent must\nnot be involved in the direction, management or conduct of the\nagent’s business unless the administrator otherwise directs in writing.\n","sortOrder":141},{"sectionNumber":"141","sectionType":"section","heading":"Notice to authorised deposit-taking institutions","content":"141 Notice to authorised deposit-taking institutions\n(1) On the appointment of an administrator for an agent, the\ncommissioner for fair trading must give the person in charge of the\nbranch of the authorised deposit-taking institution with which the\nagent maintains a trust account a written notice––\n(a) telling the person about the appointment; and\n(b) revoking the agent’s authority to withdraw money from the\naccount.\n(2) The revocation of the agent’s authority to withdraw money from a\ntrust account has the effect that—\n(a) the agent may no longer withdraw money from the account; and\n(b) any authority given by the agent to someone else to withdraw\nmoney from the account ceases to have effect; and\n(c) only the administrator, or a person authorised by the\nadministrator by written notice given to the authorised\ndeposit-taking institution, is authorised to withdraw money from\nthe account; and\n(d) the authorised deposit-taking institution may not pay any money\nout of the account without the written authority of a person\nmentioned in paragraph (c).\n(3) The commissioner for fair trading must give a copy of a notice under\nsubsection (1) to the agent, but a failure to comply with this\nsubsection does not affect the validity of the notice.\n\n(4) In this section:\nwithdraw money, from a trust account, includes sign a cheque drawn\non the account.\n","sortOrder":142},{"sectionNumber":"142","sectionType":"section","heading":"Functions of administrators","content":"142 Functions of administrators\n(1) Anything done by an administrator appointed in relation to an agent\nis taken to have been done by the agent.\n(2) An administrator appointed in relation to an agent may carry on the\nagent’s business and must carry out the agent’s obligations under this\nAct.\n(3) An administrator is not civilly liable for anything done or omitted to\nbe done honestly and without negligence in the exercise or purported\nexercise of a function as administrator.\n(4) The commissioner for fair trading and the Territory are not civilly\nliable for anything done or omitted to be done by an administrator in\nthe exercise or purported exercise of a function as an administrator.\n(5) Subsection (4) applies whether or not the administrator is liable for\nthe thing.\n","sortOrder":143},{"sectionNumber":"143","sectionType":"section","heading":"Remuneration of administrators","content":"143 Remuneration of administrators\n(1) An administrator who is not a public servant—\n(a) is entitled to be paid by the Territory the remuneration that the\ncommissioner for fair trading decides; and\n(b) is entitled to reimbursement by the Territory of the expenses\nreasonably incurred in carrying out the administration.\n(2) An amount paid to an administrator by the Territory under\nsubsection (1) is recoverable by the Territory as a debt from the agent\nin relation to whom the administrator is appointed.\n\nAppointment of administrators Part 9\n(3) If an administrator is a public servant, the commissioner for fair\ntrading must certify an amount that represents the amount of\nremuneration and expenses of the administrator that is attributable to\ncarrying out the administration.\n(4) An amount certified under subsection (3) is recoverable by the\nTerritory as a debt from the agent in relation to whom the\nadministrator is appointed.\n\n","sortOrder":144},{"sectionNumber":"Part 10","sectionType":"part","heading":"Consumer compensation fund—","content":"Part 10 Consumer compensation fund—\nlicensed property agents\n","sortOrder":145},{"sectionNumber":"144","sectionType":"section","heading":"Consumer compensation fund","content":"144 Consumer compensation fund\n(1) The director-general must keep and administer a fund to be called the\nconsumer compensation fund.\n(2) The assets of the compensation fund may only be used in accordance\nwith this Act.\n(3) The director-general must open and maintain under the Financial\nManagement Act 1996, section 51 (Directorate trust banking\naccounts) a trust account with an authorised deposit-taking institution\n(the compensation fund account) to be used only for the fund.\n(4) All money of the fund not immediately needed for payments under\nsection 151 (Claims for compensation) must be paid to the credit of\nthe fund account.\n","sortOrder":146},{"sectionNumber":"145","sectionType":"section","heading":"Compensation fund money","content":"145 Compensation fund money\nThe compensation fund consists of—\n(a) the amounts paid to the Territory under section 109 (1) (b)\n(Interest on trust accounts); and\n(b) any other amount that may be lawfully paid into the\ncompensation fund.\n","sortOrder":147},{"sectionNumber":"146","sectionType":"section","heading":"Application of compensation fund money","content":"146 Application of compensation fund money\nThe compensation fund may be used only to pay—\n(a) the amount of a claim under division 10.2, including costs,\nallowed or proved against the compensation fund; and\n\n(b) any other amount payable out of the compensation fund under\nthis Act.\n","sortOrder":148},{"sectionNumber":"147","sectionType":"section","heading":"Definitions—div 10.2","content":"147 Definitions—div 10.2\nclaimant—see section 149 (Entitlement to claim compensation).\nlicensed property agent includes a former licensed property agent.\n","sortOrder":149},{"sectionNumber":"148","sectionType":"section","heading":"Application—div 10.2","content":"148 Application—div 10.2\nThis division applies in relation to a person who was a licensed\nproperty agent only in relation to anything that happened while the\nperson was licensed.\n","sortOrder":150},{"sectionNumber":"149","sectionType":"section","heading":"Entitlement to claim compensation","content":"149 Entitlement to claim compensation\n(1) A person (the claimant) who suffers financial loss because of a failure\nto account by a licensed property agent is entitled to claim\ncompensation from the compensation fund for the loss.\n(2) The amount that the claimant is entitled to claim is the amount of the\nactual financial loss suffered by the claimant less any amount the\nclaimant has recovered or can recover in relation to the loss from a\nsource other than the compensation fund.\n(3) However, if the claim is in relation to a licensed real estate agent\nacting as manager of an owners corporation for a units plan, the\namount that the claimant is entitled to claim is limited to $50 000 for\na single claim.\n(4) Subsection (3) does not apply to a claim if the cause of action on\nwhich the claim is based arose before the commencement of\nsubsection (3).\n\n(5) Subsection (1) does not entitle an agent to claim compensation\nagainst the compensation fund for a financial loss suffered by the\nagent in the course of carrying on business as an agent.\n(6) If a person who has begun a proceeding in accordance with a notice\nunder section 153 (Requirement to begin proceedings) is ordered to\npay costs to another party to the proceeding, the person is entitled to\nclaim compensation from the compensation fund for the amount of\nthe costs paid.\n(7) This section does not apply to a failure to account for money or other\nproperty that relates to dealing in land used or to be used mainly for\na commercial, business or industrial purpose.\n","sortOrder":151},{"sectionNumber":"150","sectionType":"section","heading":"Notice inviting claims","content":"150 Notice inviting claims\n(1) The commissioner for fair trading may give public notice inviting\npeople entitled to claim compensation under this division in relation\nto a stated licensed property agent to make claims within the period\n(the claim period) stated in the notice.\n(2) The public notice must be given twice with an interval of at least\n1 month between the giving of each notice.\n(3) In addition to stating the name of the licensed property agent, the\nnotice must—\n(a) state the name under which, and the place where, the agent\ncarries or carried on business; and\n(b) contain any other details the commissioner for fair trading\nconsiders necessary to allow the agent to be clearly identified.\n(4) The claim period must not end earlier than 6 months after the day the\nnotice is first published.\n(5) A proceeding does not lie against the commissioner for fair trading in\nrelation to the honest publication of a notice under this section.\n\n","sortOrder":152},{"sectionNumber":"151","sectionType":"section","heading":"Claims for compensation","content":"151 Claims for compensation\n(1) A claim for compensation must—\n(a) be in the form approved under section 177 for this section; and\n(b) be given to the commissioner for fair trading within the\nappropriate period; and\n(c) be accompanied by a statement verifying the details contained\nin the statement.\nNote It is an offence to make a false or misleading statement, give false or\nmisleading information or produce a false or misleading document (see\nCriminal Code, pt 3.4).\n(2) For this section, the appropriate period is whichever of the following\nperiods ends earlier:\n(a) the period of 1 year after the day the claimant becomes aware of\nthe failure to account to which the claim relates;\n(b) the period of 2 years after the day the failure to account happens.\n(3) However, the appropriate period for the claim is the claim period\nunder section 150 (Notice inviting claims) if––\n(a) notice is published under section 150 in relation to the agent to\nwhom the claim relates; and\n(b) the appropriate period under subsection (2) for the claim had not\nended when the notice was published.\n","sortOrder":153},{"sectionNumber":"152","sectionType":"section","heading":"Requirement to give information and produce documents","content":"152 Requirement to give information and produce documents\n(1) The commissioner for fair trading may, by written notice given to a\nclaimant, require the person to give the commissioner, within a\nreasonable time stated in the notice, stated information or documents\nthat the commissioner for fair trading considers necessary to decide a\nclaim.\nNote For how documents may be given, see the Legislation Act, pt 19.5.\n\n(2) The notice may state in what form the information is to be given to\nthe commissioner for fair trading.\nNote It is an offence to make a false or misleading statement, give false or\nmisleading information or produce a false or misleading document (see\nCriminal Code, pt 3.4).\n(3) The commissioner for fair trading may––\n(a) keep a document for as long as is necessary; and\n(b) take copies of a document.\n(4) If the commissioner for fair trading keeps a document under\nsubsection (3)—\n(a) the commissioner must, as soon as practicable, give the person\notherwise entitled to possession of the document a copy certified\nby the commissioner to be a true copy; and\n(b) until the certified copy is given, the commissioner must, at the\ntimes and places the commissioner considers appropriate, allow\nthe person otherwise entitled to possession of the document, or\na person authorised by that person, to inspect and make copies\nof, or take extracts from, the document.\n(5) In any proceeding in which a document kept by the commissioner for\nfair trading under subsection (3) is admissible in evidence, a copy of\nthe document certified to be a true copy under subsection (4) is\nadmissible in evidence as if it were the original.\n","sortOrder":154},{"sectionNumber":"153","sectionType":"section","heading":"Requirement to begin proceedings","content":"153 Requirement to begin proceedings\nThe commissioner for fair trading may, by written notice, require a\nclaimant to begin a proceeding for the recovery of the money claimed\nagainst—\n(a) the licensed property agent to whom the claim relates; or\n(b) anyone else the commissioner considers is liable in relation to\nthe loss suffered by the claimant.\n\n","sortOrder":155},{"sectionNumber":"154","sectionType":"section","heading":"Decision on claims","content":"154 Decision on claims\n(1) If the commissioner for fair trading is given a claim for compensation\nunder section 151 (Claims for compensation), the commissioner must\ndecide whether there is financial loss for which compensation may be\npaid to the claimant under this division and, if so, the amount of the\nloss.\n(2) If the commissioner for fair trading gives a notice under section 152\n(Requirement to give information and produce documents) or\nsection 153 in relation to a claim, the commissioner need not take any\nfurther action in relation to the claim until—\n(a) the requirement in the notice is satisfied; and\n(b) for a requirement under section 153—the relevant proceeding is\ndecided.\n","sortOrder":156},{"sectionNumber":"155","sectionType":"section","heading":"Payment of compensation","content":"155 Payment of compensation\n(1) This section applies if the commissioner for fair trading decides that\nthere is financial loss for which compensation may be paid to a\nclaimant under this division.\n(2) The director-general must pay the claimant, out of the compensation\nfund, the amount of the financial loss decided by the commissioner\nfor fair trading.\n(3) However, the director-general must not pay the amount until––\n(a) the commissioner for fair trading has decided all claims for\ncompensation made in relation to the licensed property agent\nwhose failure to account is the subject of the claim; and\n(b) the commissioner has found out whether the amount in the\ncompensation fund is sufficient for the payment of all amounts\npayable to claimants under subsection (1) in relation to the\nlicensed property agent.\n\n","sortOrder":157},{"sectionNumber":"156","sectionType":"section","heading":"Interim payment of compensation","content":"156 Interim payment of compensation\n(1) This section applies if the commissioner for fair trading has decided\nthat there is a financial loss for which an amount may be payable to a\nclaimant under this division but payment of the amount cannot be\nmade because of section 155 (3).\n(2) The director-general may make an interim payment of compensation\nout of the compensation fund of the amount the director-general\nconsiders reasonable, if satisfied that—\n(a) the claimant is suffering hardship as a direct consequence of the\nfinancial loss; or\n(b) circumstances prescribed by regulation exist.\n(3) An amount paid to the claimant under subsection (2) must be set off\nagainst the amount of compensation payable to the claimant under\nthis division.\n","sortOrder":158},{"sectionNumber":"157","sectionType":"section","heading":"Insufficiency of compensation fund","content":"157 Insufficiency of compensation fund\n(1) If the amount in the compensation fund (the available amount) is\ninsufficient for the payment of all amounts that would, apart from this\nsubsection, be payable to claimants under section 155 (1) (Payment\nof compensation)—\n(a) the director-general must divide the available amount among the\nclaimants in proportion to the amounts otherwise payable; and\n(b) pay each claimant the proportionate amount.\n(2) The balance of the amount payable to claimants must be paid out of\nfuture accumulations of the compensation fund.\n(3) On making a payment under subsection (1) (b), the director-general\nmust tell each claimant in writing the balance payable out of future\naccumulations of the fund.\n\n","sortOrder":159},{"sectionNumber":"158","sectionType":"section","heading":"Availability of compensation fund","content":"158 Availability of compensation fund\nThe compensation fund is the only property available for the\nsatisfaction of a claim for compensation under this division.\n","sortOrder":160},{"sectionNumber":"159","sectionType":"section","heading":"Subrogation","content":"159 Subrogation\nIf compensation is paid to a person in relation to a claim, the Territory\nis subrogated to the rights of the person against the licensed property\nagent in relation to whom the claim for compensation was made, to\nthe extent of the payment.\n\n","sortOrder":161},{"sectionNumber":"160","sectionType":"section","heading":"Register","content":"160 Register\n(1) The commissioner for fair trading must maintain a register for this\nAct.\n(2) The register must be available for public inspection at reasonable\ntimes.\n(3) The register may be kept in the form of, or as part of, 1 or more\ncomputer databases or in any other form the commissioner for fair\ntrading considers appropriate.\n(4) The commissioner for fair trading may correct a mistake or omission\nin the register, subject to any requirements of the regulations.\n(5) The commissioner for fair trading may change a detail included in the\nregister to keep the register up-to-date.\n","sortOrder":162},{"sectionNumber":"161","sectionType":"section","heading":"Register information","content":"161 Register information\nThe commissioner for fair trading must enter and keep in the register\ndetails about the following:\n(a) each licence;\n(b) each registration;\n(c) conditions put on licences or registrations;\n(d) each application for a licence that is refused;\n(e) each application for registration that is refused;\n(f) the main place of business of each licensed agent;\n(g) any exemption under section 71 (Class 1 licensed property agent\nto be in charge of business—exemptions);\n(h) an audit period for a licensed agent fixed by the commissioner\nfor fair trading under section 113 (1) (Audit period);\n\nAdministration Part 11\n(i) each prosecution taken under this Act and the result of the\nprosecution;\n(j) each occupational discipline order made by the ACAT;\n(k) the appointment of an administrator under this Act;\n(l) anything else prescribed by regulation.\n","sortOrder":163},{"sectionNumber":"162","sectionType":"section","heading":"Amounts received under Act","content":"162 Amounts received under Act\n(1) This section applies to all amounts paid to the Territory under this\nAct.\n(2) The director-general must pay the amounts into the ACAT trust\naccount.\n","sortOrder":164},{"sectionNumber":"163","sectionType":"section","heading":"Determination and payment of amounts for compensation","content":"163 Determination and payment of amounts for compensation\nfund\n(1) As soon as practicable after the beginning of a financial year, the\nMinister must determine an amount for the compensation fund, if the\nMinister considers it necessary to increase the amount in the\ncompensation fund to meet the likely claims against the fund during\nthe financial year.\n(2) A determination is a notifiable instrument.\n(3) If the amount paid into the ACAT trust account under this Act and\navailable when the Minister makes the determination is at least the\ndetermined amount, the amount must be paid from the trust account\ninto the compensation fund.\n(4) If the amount paid into the ACAT trust account under this Act and\navailable when the Minister makes the determination is less than the\ndetermined amount, the whole amount must be paid into the\ncompensation fund.\n\n","sortOrder":165},{"sectionNumber":"164","sectionType":"section","heading":"Disclosure of information","content":"164 Disclosure of information\n(1) A person commits an offence if the person discloses information\nobtained by the person in connection with the administration of this\nAct.\n(3) Subsection (1) does not apply in relation to a disclosure made—\n(a) with the consent of the person who provided the information; or\n(b) as part of the exercise of a function under this Act; or\n(c) for a legal proceeding arising out of this Act or a report of the\nproceeding; or\n(d) to a regulatory officer or law enforcement officer, to help the\nofficer in the exercise of the officer’s functions; or\n(e) as otherwise prescribed by regulation; or\n(f) under another territory law or a law of the Commonwealth.\n(4) This section does not apply to the disclosure by the commissioner for\nfair trading to a person directly involved in a transaction with a\nlicensed agent, of information that relates to the transaction and\ndirectly concerns the person.\n(5) This section does not apply to the disclosure of information to the\ncommissioner for fair trading by a law enforcement officer or\nregulatory officer helping the commissioner in the exercise of\nfunctions under this Act if the commissioner has asked for disclosure\nof the information.\n(6) The commissioner for fair trading may enter into agreements and\nother arrangements for the sharing or exchange of information\nrelating to the activities of agents and this section does not apply to\nthe disclosure of information under an agreement or arrangement\nentered into under this subsection.\n\nAdministration Part 11\n(7) In this section—\ninformation means information that is not on the register.\nlaw enforcement officer means—\n(a) a police officer or a member of the police service or force of a\nState; or\n(b) the director of public prosecutions, or the director of public\nprosecutions or prosecutor of the Commonwealth or a State; or\n(c) a person, or an officer of an authority, responsible for the\ninvestigation or prosecution of offences against a territory law,\nor the law of the Commonwealth or a State.\nregulatory officer means an officer or employee of a government\nagency (including the government of a jurisdiction outside the ACT\nor outside Australia) exercising functions under a law about fair\ntrading or a law that provides for the issue of authorities (however\ncalled) in relation to the undertaking of an activity regulated under\nthe law.\n","sortOrder":166},{"sectionNumber":"165","sectionType":"section","heading":"Protection from liability","content":"165 Protection from liability\n(1) The commissioner for fair trading or an investigator does not incur\ncivil liability for an act or omission done honestly for this Act.\n(2) A civil liability that would, apart from this section, attach to the\ncommissioner for fair trading or an investigator attaches instead to the\nTerritory.\ninvestigator—see the Fair Trading (Australian Consumer Law)\nAct 1992, dictionary.\n\nPart 12 Notification and review of decisions\nPart 12 Notification and review of\ndecisions\n166 Meaning of reviewable decision—pt 12\nreviewable decision means a decision mentioned in\nschedule 1, column 3 under a provision of this Act mentioned in\ncolumn 2 in relation to the decision.\n","sortOrder":167},{"sectionNumber":"167","sectionType":"section","heading":"Reviewable decision notices","content":"167 Reviewable decision notices\nIf a person makes a reviewable decision, the person must give a\nreviewable decision notice to each entity mentioned in schedule 1,\ncolumn 4 in relation to the decision.\nNote The person must also take reasonable steps to give a reviewable decision\nnotice to any other person whose interests are affected by the decision\n(see ACT Civil and Administrative Tribunal Act 2008, s 67A).\n","sortOrder":168},{"sectionNumber":"168","sectionType":"section","heading":"Applications for review","content":"168 Applications for review\n(1) The following may apply to the ACAT for a review of a reviewable\ndecision of a relevant person:\n(a) an entity mentioned in schedule 1, column 4 in relation to the\ndecision;\n(b) any other person whose interests are affected by the decision.\n(2) In this section:\nrelevant person means—\n(a) for a reviewable decision mentioned in schedule 1, column 3,\nitems 1 to 20—the commissioner for fair trading; or\n(b) for a reviewable decision mentioned in schedule 1, column 3,\nitem 21—the director-general.\n\nNote Regulations about infringement notices may be made under the\nMagistrates Court Act 1930 for offences against this Act.\n","sortOrder":169},{"sectionNumber":"169","sectionType":"section","heading":"False or misleading statements","content":"169 False or misleading statements\n(1) In this section:\nrelevant matter means any of the following:\n(a) an application for a licence or registration;\n(b) the making of an objection to the issue of a licence or the\ngranting of registration;\n(c) an application for the amendment or omission of a condition on\na licence or registration;\n(d) an application for renewal of a licence or registration;\n(e) a response to a requirement made by the commissioner for fair\ntrading about information or documents in relation to an\napplication for a licence, registration or renewal of a licence or\nregistration;\n(f) a notification of a change in a licensed agent’s main place of\nbusiness under section 68;\n(g) an application for an exemption under section 71 (Class 1\nlicensed property agent to be in charge of business—\nexemptions);\n(h) information or a document required or permitted to be given\nunder part 7 (Trust accounts—licensed property agents);\n(i) a claim for compensation under section 151;\n\n(j) information or a document given to the commissioner for fair\ntrading in relation to a claim for compensation, whether or not\nthe information or document is given in response to a\nrequirement under section 152 (Requirement to give\ninformation and produce documents).\n(2) A person commits an offence if—\n(a) the person makes a statement (whether orally, in a document or\nin any other way); and\n(b) the person does so knowing that the statement—\n(ii) omits something without which the statement is\nmisleading; and\n(c) the statement is made in, or in relation to, a relevant matter.\n(3) Subsection (2) does not apply to a person who produces a document\nif the document is accompanied by a signed statement––\n(a) stating that the document is, to the signing person’s knowledge,\nfalse or misleading in a material particular; and\n(b) setting out, or referring to, the material particular in which the\ndocument is, to the signing person’s knowledge, false or\nmisleading.\n(4) The statement under subsection (3) must be signed by––\n(a) the person; or\n(b) if the person who produces the document is a corporation––by\nan executive officer of the corporation.\n\n(5) A person commits an offence if—\n(a) the person makes a statement (whether orally, in a document or\nin any other way); and\n(b) the person is reckless about whether the statement—\n(ii) omits something without which the statement is\nmisleading; and\n(c) the statement is made in, or in relation to, a relevant matter.\n(6) Subsections (2) (b) (i) and (5) (b) (i) do not apply if the statement is\nnot false or misleading in a material particular.\n(7) Subsections (2) (b) (ii) and (5) (b) (ii) do not apply if the omission\ndoes not make the statement misleading in a material particular.\n","sortOrder":170},{"sectionNumber":"170","sectionType":"section","heading":"Alternative verdict for offence against s 169","content":"170 Alternative verdict for offence against s 169\n(1) This section applies if, in a prosecution for an offence against section\n169 (2), the trier of fact is not satisfied that the defendant is guilty of\nthe offence, but is satisfied beyond reasonable doubt that the\ndefendant is guilty of an offence against section 169 (5).\n(2) The trier of fact may find the defendant guilty of the offence against\nsection 169 (5), but only if the defendant has been given procedural\nfairness in relation to that finding of guilt.\n\n","sortOrder":171},{"sectionNumber":"171","sectionType":"section","heading":"Rules of conduct","content":"171 Rules of conduct\n(1) A regulation may prescribe rules of conduct to be observed by\nlicensed agents, licensed land auctioneers or registered assistant\nproperty agents.\n(2) A licensed agent must not contravene a rule of conduct applying to\nthe agent.\n(3) A licensed land auctioneer must not contravene a rule of conduct\napplying to the auctioneer.\n(4) A registered assistant property agent must not contravene a rule of\nconduct applying to the assistant property agent.\n","sortOrder":172},{"sectionNumber":"173","sectionType":"section","heading":"Evidentiary certificates","content":"173 Evidentiary certificates\n(1) In a proceeding under this Act or the ACT Civil and Administrative\nTribunal Act 2008, a certificate signed by the commissioner for fair\ntrading stating any of the following matters is evidence of the matter\nstated:\n(a) that, on a stated day or during a stated period, a person was, or\nwas not, the holder of a stated licence;\n(b) that, on a stated day or during a stated period, a person was, or\nwas not, registered as stated;\n(c) that, on a stated day or during a stated period, a person’s licence\nor registration was, or was not, suspended;\n(d) that a document mentioned in the certificate is a copy of––\n(i) a part of the register mentioned in the certificate; or\n(ii) a document held by the commissioner under this Act.\n(2) A document purporting to be a certificate under subsection (1) is\ntaken, unless the contrary is proved, to be such a certificate and to be\nevidence of the matters it states.\n\n","sortOrder":173},{"sectionNumber":"174","sectionType":"section","heading":"What is a corresponding law?","content":"174 What is a corresponding law?\nA corresponding law is—\n(a) a law of a State corresponding, or substantially corresponding,\nto this Act; or\n(b) a law of a State that is declared by regulation to be a\ncorresponding law, whether or not the law corresponds, or\nsubstantially corresponds, to this Act.\n","sortOrder":174},{"sectionNumber":"175","sectionType":"section","heading":"Displacement of Corporations legislation","content":"175 Displacement of Corporations legislation\n(1) An administrator is declared to be an excluded matter for the purposes\nof the Corporations Act, section 5F in relation to the whole of the\nCorporations legislation to which the Corporations Act, part 1.1A\n(Interaction between Corporations legislation and State and Territory\nlaws) applies.\nNote This section ensures that neither the Corporations Act nor the Australian\nSecurities and Investments Commission Act 2001 (Cwlth),\npt 3 (Investigations and information gathering) will apply in relation to\nan administrator. The Corporations Act, s 5F provides that, if a State or\nTerritory law declares a matter to be an excluded matter in relation to all\nor part of the Corporations legislation to which the Corporations Act,\npt 1.1A applies (see s 5D), that legislation does not apply, except to the\nextent specified, in relation to that matter in the State or Territory.\n(2) Part 9 (Appointment of administrators) is declared to be a\nCorporations legislation displacement provision for the purpose of\nthe Corporations Act, section 5G (Avoiding direct inconsistency\narising between the Corporations legislation and State and Territory\nlaws).\n","sortOrder":175},{"sectionNumber":"176","sectionType":"section","heading":"Determination of fees","content":"176 Determination of fees\n(1) The Minister may determine fees for this Act.\n(2) A determination is a disallowable instrument.\n\n","sortOrder":176},{"sectionNumber":"177","sectionType":"section","heading":"Approved forms","content":"177 Approved forms\n(1) The commissioner for fair trading may approve forms for this Act.\n(2) If the commissioner for fair trading approves a form for a particular\npurpose, the approved form must be used for that purpose.\n(3) An approved form is a notifiable instrument.\n","sortOrder":177},{"sectionNumber":"178","sectionType":"section","heading":"Regulation-making power","content":"178 Regulation-making power\n(1) The Executive may make regulations for this Act.\n(2) A regulation may make provision in relation to—\n(a) applications for licences or registrations; and\n(b) renewals of licences and registrations; and\n(c) the surrender of licences and registrations; and\n(d) the keeping of accounts and other records by licensed agents and\nregistered assistant property agents; and\n(e) the transfer of a licensed agent’s business to another licensed\nagent, including the transfer of trust money.\n(3) A regulation may prescribe offences for contraventions of a\nregulation and prescribe maximum penalties of not more than\n20 penalty units for offences against a regulation.\n\nReviewable decisions Schedule 1\n","sortOrder":178},{"sectionNumber":"Sch 1","sectionType":"schedule","heading":"Reviewable decisions","content":"Schedule 1 Reviewable decisions\n(see s 166)\nitem\n1 33 (2) (a) issue licence applicant objectors\n2 33 (2) (b) refuse to issue licence applicant objectors\n3 34 (2) (a) put condition on a\nlicence\n(a) if done on issue of\nlicence—applicant\nobjectors\n(b) if done on existing\nlicence––licensed\n4 34 (2) (b) amend a licence\n5 36 (2) (b) refuse to renew licence licensed agent\n6 57 (2) (a) register an applicant applicant objectors\n7 57 (2) (b) refuse to register an\napplicant\napplicant objectors\n8 58 (2) (a) put a registration\n(a) if done on\nregistration—\napplicant objectors\n(b) if done on existing\nregistration––\nregistered assistant\nproperty agent\n9 58 (2) (b) amend a registration\n10 60 (2) (b) refuse to renew\nregistration\n\nSchedule 1 Reviewable decisions\nitem\n11 71 (1) refuse to exempt\nperson from being\nproperty agent\nperson responsible for\nmanagement of business of\n12 71 (1) refuse to exempt from\nhaving class 1 licensed\nproperty agent in\ncharge of business\nlicensed property agent who\nowns business\n13 71 (1) refuse to exempt\nproperty agent from\nrequirement to manage\nnot more than\napplicant for exemption\n14 71 (1) refuse to exempt\nproperty agent in\ncharge of a business\nfrom requirement to\nnot provide service to\nanother agent\napplicant for exemption\n15 71 (2) put condition on\nprohibition on\nmanaging, or providing\nservices, to more than\nexempted\n16 71 (2) amend a condition on\nprohibition on\nmanaging, or providing\nservices, to more than\nexempted\n\nReviewable decisions Schedule 1\nitem\n17 105A (1) refuse to exempt\nlicensed agent from\nrequirement to open\ntrust account\n18 105A (3) put condition on\nrequirements of s 105\nlicensed agent exempted\n19 105A (3) amend condition of\nrequirements of s 105\nlicensed agent exempted\n20 139 (1) appoint an\nadministrator\nlicensed agent or former\n21 139 (2) appoint an\nadministrator\nperson carrying on the\nbusiness to be administered\n22 153 require a claimant to\nbegin proceeding\n23 154 decide about financial\nloss\n24 156 (2) not make interim\npayment\n\n(see s 3)\nNote 1 The Legislation Act contains definitions and other provisions relevant to\nthis Act.\nNote 2 For example, the Legislation Act, dict, pt 1, defines the following terms:\n• ACAT\n• Act\n• adult\n• Australian Consumer Law (ACT)\n• Australian Criminal Intelligence Commission\n• authorised deposit-taking institution\n• business day\n• commissioner for fair trading\n• corporation\n• Corporations Act\n• director-general (see s 163)\n• entity\n• financial year\n• found guilty\n• in relation to\n• lawyer\n• month\n• occupational discipline order\n• public trustee and guardian\n• reviewable decision notice\n• State\n• territory law\n• under.\naccount, for a licensed property agent, for division 8.2 (Freezing\naccounts—licensed property agents)—see section 131.\nACT dishonesty offence means an offence against a territory law that\ninvolves dishonesty.\n\nADI business day, for a trust account, for division 7.2 (Trust money\nand trust accounts)—see section 104.\nadministrator, for part 9 (Appointment of administrators)—see\nsection 138.\nagent—\n(a) for this Act generally, means a person who carries on business\nas any of the following:\n(i) a business agent;\n(ii) a land auctioneer;\n(iii) a real estate agent;\n(iv) a stock and station agent; and\n(b) for division 3.4 (Occupational discipline—agents)—see\nsection 40.\nagents licence means any of the following:\n(a) a business agents licence;\n(b) a land auctioneers licence;\n(c) a real estate agents licence;\n(d) a stock and station agents licence.\nassistant property agent means a person who, as an employee,\nprovides—\n(a) a business agent service; or\n(b) a real estate agent service; or\n(c) a stock and station agent service.\naudit period, for a licensed agent, means the period fixed under\nsection 113 for the agent.\nbeneficial interest, in land, for division 5.6 (Land—further\nprovisions)—see section 82.\n\nbenefit, for division 5.6 (Land—further provisions)—see section 80.\nbusiness agent service—see section 10 (2).\nbuyer includes a prospective buyer.\ncarries on business as—\n(a) a business agent—see section 10; or\n(b) an employment agent, for part 5A (Employment agents)—see\nsection 98A; or\n(c) a land auctioneer—see section 11; or\n(d) a real estate agent—see section 8; or\n(e) a stock and station agent—see section 9.\nchild, of a person, means the son, daughter, grandson, granddaughter,\nstepson or stepdaughter of the person, or someone in relation to whom\nthe person is acting in place of a parent.\nclaimant, for division 10.2 (Claims against compensation fund)—see\nsection 149.\nclass 1 licensed business agent means a person who holds a class 1\nlicence as a business agent.\nclass 1 licensed property agent means—\n(a) a class 1 licensed business agent; or\n(b) a class 1 licensed real estate agent; or\n(c) a class 1 licensed stock and station agent.\nclass 1 licensed real estate agent means a person who holds a class 1\nlicence as a real estate agent.\nclass 1 licensed stock and station agent means a person who holds a\nclass 1 licence as a stock and station agent.\nclass 2 licensed business agent means a person who holds a class 2\nlicence as a business agent.\n\nclass 2 licensed property agent means—\n(a) a class 2 licensed business agent; or\n(b) a class 2 licensed real estate agent; or\n(c) a class 2 licensed stock and station agent.\nclass 2 licensed real estate agent means a person who holds a class 2\nlicence as a real estate agent.\nclass 2 licensed stock and station agent means a person who holds a\nclass 2 licence as a stock and station agent.\ncompensation fund means the consumer compensation fund kept\nunder section 144.\ncorresponding law—see section 174.\ndetails, of a trust account, for part 7 (Trust accounts—licensed\nproperty agents)—see section 103.\nemploy includes––\n(a) engaging a person on a contract of service; and\n(b) for a corporation, having a person as director or other member\nof its governing body.\nemployee—\n(a) means—\n(i) any person employed, regardless of how remunerated; and\n(ii) a person engaged on a contract of service; and\n(b) for a corporation, includes a director or other member of its\ngoverning body.\nestimate, for division 5.6 (Land—further provisions)—see\nsection 80.\nexecutive officer, of a corporation, means a person who is concerned\nin, or takes part in, the management of the corporation, whether or\nnot the person is a director of the corporation.\n\nfailure to account, in relation to a licensed agent, means a failure by\nthe agent to account for money or other property entrusted to the agent\nin the course of carrying on the agent’s business as a licensed agent.\nfair trading legislation—see section 7.\nfamily member, of a person, means—\n(a) the person’s domestic partner; or\n(b) the person’s parent or child; or\n(c) the person’s brother, sister, half-brother or half-sister; or\n(d) the parent or child of the person’s domestic partner.\nground for occupational discipline—\n(a) for an agent—see section 41; and\n(b) for a registered assistant property agent—see section 65.\nland includes an interest in land.\nland auctioneer means a person who carries on business as a land\nauctioneer.\nland auctioneer service—see section 11 (2).\nlicence means a licence under this Act.\nlicensed, for division 3.1 (Agents to be licensed)––see section 17.\nlicensed agent means an agent who holds a licence, and includes a\nland auctioneer who holds a licence.\nlicensed business agent means—\n(a) a class 1 licensed business agent; or\n(b) a class 2 licensed business agent.\nlicensed land auctioneer means a person who holds a licence as a\nland auctioneer.\n\nlicensed property agent—\n(a) for this Act generally—see section 7A; and\n(b) for part 7 (Trust accounts—licensed property agents)—see\nsection 101; and\n(c) for division 8.2 (Freezing accounts—licensed property\nagents)—see section 131; and\n(d) for division 10.2 (Claims against compensation fund)—see\nsection 147.\nlicensed real estate agent means—\n(a) a class 1 licensed real estate agent; or\n(b) a class 2 licensed real estate agent.\nlicensed stock and station agent means—\n(a) a class 1 licensed stock and station agent; or\n(b) a class 2 licensed stock and station agent.\nmain place of business, for a licensed agent, means the place shown\nin the register as the agent’s main place of business.\nnon-ACT offence means an offence against a law other than a\nterritory law.\nobtains a beneficial interest, in land, for division 5.6 (Land—further\nprovisions)—see section 82.\nparent, of a person, means the person’s father, mother, grandfather,\ngrandmother, stepfather or stepmother, or someone acting in place of\nthe person’s parent.\n\npolice certificate, for a person, means a written statement by the\nAustralian Federal Police or the Australian Criminal Intelligence\nCommission indicating—\n(a) whether, according to the records held by the Australian Federal\nPolice or the Australian Criminal Intelligence Commission, the\nperson has been charged with, or convicted of, an offence\nagainst a law of—\n(i) the Territory; or\n(ii) the Commonwealth; or\n(iii) a State; or\n(iv) another country; and\n(b) if so—particulars of each offence.\nNote A conviction does not include a spent conviction or an extinguished\nconviction (see Spent Convictions Act 2000, s 16 (c) (i) and\ns 19H (1) (c) (i)).\npre-contract information, for division 5.6 (Land—further\nprovisions)—see section 81.\nprincipal, of a person, does not include the person’s employer.\npublish—see section 78.\nqualified auditor, for division 7.4 (Audit of trust accounts)—see\nsection 112.\nreal estate agent service—see section 8 (2).\nrecords includes documents and information in electronic form.\nregister, when used as a noun, means the register under section 160.\nregistered, in relation to an assistant property agent, for division 4.1\n(Assistant property agents to be registered)—see section 44.\nregistered assistant business agent means a person registered under\nsection 57 as an assistant business agent.\n\nregistered assistant property agent—\n(a) for this Act generally, means—\n(i) a registered assistant business agent; or\n(ii) a registered assistant real estate agent; or\n(iii) a registered assistant stock and station agent; and\n(b) for division 4.4 (Occupational discipline—registered assistant\nproperty agents)—see section 64.\nregistered assistant real estate agent means a person registered under\nsection 57 as an assistant real estate agent.\nregistered assistant stock and station agent means a person\nregistered under section 57 as an assistant stock and station agent.\nregistration means registration under this Act.\nrelevant offence—\n(a) means—\n(i) any of the following offences against a territory law:\n(A) an offence involving dishonesty;\n(B) an offence against the person;\n(C) an offence involving violence;\n(D) an offence against the Criminal Code, chapter 6,\npunishable by a maximum term of imprisonment of\n3 years or more (a serious drug offence) or an offence\nagainst a territory law previously in force that is\nsimilar in nature to a serious drug offence; or\n(ii) a sexual offence; and\n(b) includes a non-ACT offence that is similar in nature to an\noffence mentioned in paragraph (a) (i).\n\nreviewable decision, for part 12 (Notification and review of\ndecisions)––see section 166.\nrules of conduct means rules of conduct prescribed under\nsection 171.\nrural land means land used mainly for––\n(a) agricultural or pastoral purposes; or\n(b) a purpose prescribed by regulation.\nseller includes prospective seller.\nselling price, for division 5.6 (Land—further provisions)—see\nsection 80.\nsexual offence—see the Spent Convictions Act 2000, dictionary.\nstock and station agent service—see section 9 (2).\nstop direction, for division 8.2 (Freezing accounts—licensed property\nagents)––see section 131.\ntrust account—see section 105.\ntrust money—see section 102.\nvehicle includes a ship, train or aircraft.\n\nAbout the endnotes 1\n1 About the endnotes\nAmending and modifying laws are annotated in the legislation history and the\namendment history. Current modifications are not included in the republished law\nbut are set out in the endnotes.\nNot all editorial amendments made under the Legislation Act 2001, part 11.3 are\nannotated in the amendment history. Full details of any amendments can be\nobtained from the Parliamentary Counsel’s Office.\nUncommenced amending laws are not included in the republished law. The details\nof these laws are underlined in the legislation history. Uncommenced expiries are\nunderlined in the legislation history and amendment history.\nIf all the provisions of the law have been renumbered, a table of renumbered\nprovisions gives details of previous and current numbering.\nThe endnotes also include a table of earlier republications.\n2 Abbreviation key\nA = Act NI = Notifiable instrument\nAF = Approved form o = order\nam = amended om = omitted/repealed\namdt = amendment ord = ordinance\nAR = Assembly resolution orig = original\nch = chapter par = paragraph/subparagraph\nCN = Commencement notice pres = present\ndef = definition prev = previous\nDI = Disallowable instrument (prev...) = previously\ndict = dictionary pt = part\ndisallowed = disallowed by the Legislative r = rule/subrule\nAssembly reloc = relocated\ndiv = division renum = renumbered\nexp = expires/expired R[X] = Republication No\nGaz = gazette RI = reissue\nhdg = heading s = section/subsection\nIA = Interpretation Act 1967 sch = schedule\nins = inserted/added sdiv = subdivision\nLA = Legislation Act 2001 SL = Subordinate law\nLR = legislation register sub = substituted\nLRA = Legislation (Republication) Act 1996 underlining = whole or part not commenced\nmod = modified/modification or to be expired\n\nAgents Act 2003 A2003-20\nnotified LR 19 May 2003\ns 1, s 2 commenced 19 May 2003\nremainder commenced 1 November 2003 (s 2 and CN2003-12)\nas amended by\nCivil Law (Sale of Residential Property) Act 2003 A2003-40 sch 1\npt 1.1 (as am by A2004-32 s 55)\nnotified LR 8 September 2003\ns 1, s 2 commenced 8 September 2003 (LA s 75 (1))\nsch 1 pt 1.1 commenced 1 July 2004 (s 2)\nJustice and Community Safety Legislation Amendment Act 2004\nA2004-18 pt 2\nnotified LR 6 April 2004\ns 1, s 2 commenced 6 April 2004 (LA s 75 (1))\npt 2 commenced 20 April 2004 (s 2)\nJustice and Community Safety Legislation Amendment Act 2004\n(No 2) A2004-32 pt 2, s 55\nnotified LR 29 June 2004\ns 1, s 2 commenced 29 June 2004 (LA s 75 (1))\npt 2 commenced 30 June 2004 (s 2 (1))\ns 55 commenced 1 July 2004 (s 2 (2))\nNote s 55 only amends Civil Law (Sale of Residential Property) Act\n","sortOrder":179},{"sectionNumber":"2003","sectionType":"section","heading":"A2003-40","content":"2003 A2003-40\nJustice and Community Safety Legislation Amendment Act 2005\nA2005-5 pt 2\nnotified LR 23 February 2005\ns 1, s 2 commenced 23 February 2005 (LA s 75 (1))\npt 2 commenced 24 February 2005 (s 2 (2))\nJustice and Community Safety Legislation Amendment Act 2005\n(No 2) A2005-11 pt 2\nnotified LR 11 March 2005\ns 1, s 2 commenced 11 March 2005 (LA s 75 (1))\npt 2 commenced 12 March 2005 (s 2)\n\nStatute Law Amendment Act 2005 A2005-20 sch 3 pt 3.1\nnotified LR 12 May 2005\ns 1, s 2 taken to have commenced 8 March 2005 (LA s 75 (2))\nsch 3 pt 3.1 commenced 2 June 2005 (s 2 (1))\nStatute Law Amendment Act 2007 A2007-3 sch 3 pt 3.4\nnotified LR 22 March 2007\ns 1, s 2 taken to have commenced 1 July 2006 (LA s 75 (2))\nsch 3 pt 3.4 commenced 12 April 2007 (s 2 (1))\nJustice and Community Safety Legislation Amendment Act 2007\nA2007-22 sch 1 pt 1.1\nnotified LR 5 September 2007\ns 1, s 2 commenced 5 September 2007 (LA s 75 (1))\nsch 1 pt 1.1 commenced 6 September 2007 (s 2)\nRegulatory Services Legislation Amendment Act 2008 A2008-5 pt 2\nnotified LR 15 April 2008\ns 1, s 2 commenced 15 April 2008 (LA s 75 (1))\npt 2 commenced 1 July 2008 (s 2 and CN2008-7)\nJustice and Community Safety Legislation Amendment\nAct 2008 (No 3) A2008-29 sch 1 pt 1.2\nnotified LR 13 August 2008\ns 1, s 2 commenced 13 August 2008 (LA s 75 (1))\nsch 1 pt 1.2 commenced 27 August 2008 (s 2)\nACT Civil and Administrative Tribunal Legislation Amendment\nAct 2008 A2008-36 sch 1 pt 1.3\nnotified LR 4 September 2008\ns 1, s 2 commenced 4 September 2008 (LA s 75 (1))\nsch 1 pt 1.3 commenced 2 February 2009 (s 2 (1) and see ACT Civil\nand Administrative Tribunal Act 2008 A2008-35, s 2 (1) and CN2009-2)\nACT Civil and Administrative Tribunal Legislation Amendment\nAct 2008 (No 2) A2008-37 sch 1 pt 1.4\nnotified LR 4 September 2008\ns 1, s 2 commenced 4 September 2008 (LA s 75 (1))\nsch 1 pt 1.4 commenced 2 February 2009 (s 2 (1) and see ACT Civil\nand Administrative Tribunal Act 2008 A2008-35, s 2 (1) and CN2009-2)\n\nUnit Titles Amendment Act 2008 (No 2) A2008-45 sch 1 pt 1.1\nnotified LR 10 September 2008\ns 1, s 2 commenced 10 September 2008 (LA s 75 (1))\nsch 1 amdt 1.3 commenced 2 February 2009 (s 2 (2))\nsch 1 pt 1.1 remainder commenced 1 July 2009 (s 2 (1) and\nCN2008-18)\nStatute Law Amendment Act 2009 A2009-20 sch 3 pt 3.1\nnotified LR 1 September 2009\ns 1, s 2 commenced 1 September 2009 (LA s 75 (1))\nsch 3 pt 3.1 commenced 22 September 2009 (s 2)\nJustice and Community Safety Legislation Amendment Act 2009\n(No 3) A2009-44 sch 1 pt 1.3\nnotified LR 24 November 2009\ns 1, s 2 commenced 24 November 2009 (LA s 75 (1))\nsch 1 pt 1.3 commenced 22 December 2009 (s 2 (3))\nFair Trading (Australian Consumer Law) Amendment Act 2010\nA2010-54 sch 3 pt 3.1\nnotified LR 16 December 2010\ns 1, s 2 commenced 16 December 2010 (LA s 75 (1))\nsch 3 pt 3.1 commenced 1 January 2011 (s 2 (1))\nAdministrative (One ACT Public Service Miscellaneous Amendments)\nAct 2011 A2011-22 sch 1 pt 1.7\nnotified LR 30 June 2011\ns 1, s 2 commenced 30 June 2011 (LA s 75 (1))\nsch 1 pt 1.7 commenced 1 July 2011 (s 2 (1))\nUnit Titles (Management) Act 2011 A2011-41 sch 5 pt 5.1\nnotified LR 3 November 2011\ns 1, s 2 commenced 3 November 2011 (LA s 75 (1))\nsch 5 pt 5.1 commenced 30 March 2012 (s 2 and CN2012-6)\nJustice and Community Safety Legislation Amendment Act 2011\n(No 3) A2011-49 sch 1 pt 1.1\nnotified LR 22 November 2011\ns 1, s 2 commenced 22 November 2011 (LA s 75 (1))\nsch 1 pt 1.1 commenced 12 December 2011 (s 2 (2) (a) and see\nStatute Law Amendment Act 2011 (No 3) A2011-52 s 2)\n\nJustice and Community Safety Legislation Amendment Act 2013\n(No 2) A2013-11 sch 1 pt 1.1\nnotified LR 28 March 2013\ns 1, s 2 commenced 28 March 2013 (LA s 75 (1))\nsch 1 pt 1.1 commenced 4 April 2013 (s 2)\nJustice and Community Safety Legislation (Red Tape Reduction\nNo 1—Licence Periods) Amendment Act 2013 A2013-28 pt 2\nnotified LR 21 August 2013\ns 1, s 2 commenced 21 August 2013 (LA s 75 (1))\npt 2 commenced 22 August 2013 (s 2)\nStatute Law Amendment Act 2013 (No 2) A2013-44 sch 3 pt 3.1\nnotified LR 11 November 2013\ns 1, s 2 commenced 11 November 2013 (LA s 75 (1))\nsch 3 pt 3.1 commenced 25 November 2013 (s 2)\nJustice and Community Safety Legislation Amendment Act 2014\nA2014-17 sch 1 pt 1.1\nnotified LR 13 May 2014\ns 1, s 2 taken to have commenced 25 November 2013 (LA s 75 (2))\nsch 1 pt 1.1 commenced 1 July 2014 (s 2 (2))\nJustice and Community Safety Legislation Amendment Act 2014\n(No 2) A2014-49 pt 3\nnotified LR 10 November 2014\ns 1, s 2 commenced 10 November 2014 (LA s 75 (1))\npt 3 commenced 17 November 2014 (s 2)\nStatute Law Amendment Act 2015 A2015-15 sch 3 pt 3.2\nnotified LR 27 May 2015\ns 1, s 2 commenced 27 May 2015 (LA s 75 (1))\nsch 3 pt 3.2 commenced 10 June 2015 (s 2)\nRed Tape Reduction Legislation Amendment Act 2015 A2015-33\nsch 1 pt 1.4\nnotified LR 30 September 2015\ns 1, s 2 commenced 30 September 2015 (LA s 75 (1))\nsch 1 pt 1.4 commenced 14 October 2015 (s 2)\n\nSpent Convictions (Historical Homosexual Convictions\nExtinguishment) Amendment Act 2015 A2015-45 sch 1 pt 1.1\nnotified LR 6 November 2015\ns 1, s 2 commenced 6 November 2015 (LA s 75 (1))\nsch 1 pt 1.1 commenced 7 November 2015 (s 2)\nProtection of Rights (Services) Legislation Amendment Act 2016\n(No 2) A2016-13 sch 1 pt 1.3\nnotified LR 16 March 2016\ns 1, s 2 commenced 16 March 2016 (LA s 75 (1))\nsch 1 pt 1.3 commenced 1 April 2016 (s 2 and see Protection of Rights\n(Services) Legislation Amendment Act 2016 A2016-1 s 2)\nRed Tape Reduction Legislation Amendment Act 2016 A2016-18\nsch 3 pt 3.3, sch 4 pt 4.2\nnotified LR 13 April 2016\ns 1, s 2 commenced 13 April 2016 (LA s 75 (1))\nsch 3 pt 3.3. sch 4 pt 4.2 commenced 27 April 2016 (s 2)\nStatute Law Amendment Act 2017 A2017-4 sch 3 pt 3.4\nnotified LR 23 February 2017\ns 1, s 2 commenced 23 February 2017 (LA s 75 (1))\nsch 3 pt 3.4 commenced 9 March 2017 (s 2)\nRed Tape Reduction Legislation Amendment Act 2017 A2017-17 pt 2\nnotified LR 14 June 2017\ns 1, s 2 commenced 14 June 2017 (LA s 75 (1))\npt 2 commenced 31 August 2017 (s 2 (2))\nJustice Legislation Amendment Act 2020 A2020-42 pt 3\nnotified LR 27 August 2020\ns 1, s 2 commenced 27 August 2020 (LA s 75 (1))\npt 3 commenced 27 February 2021 (s 2 (6) and LA s 79)\nFair Trading and Other Justice Legislation Amendment Act 2022\nA2022-8 pt 2\nnotified LR 11 May 2022\ns 1, s 2 commenced 11 May 2022 (LA s 75 (1))\npt 2 commenced 1 July 2022 (s 2 (2))\n\nJustice and Community Safety Legislation Amendment Act 2022\nA2022-21 pt 2\nnotified LR 9 December 2022\ns 1, s 2 commenced 9 December 2022 (LA s 75 (1))\npt 2 commenced 10 December 2022 (s 2)\nJustice and Community Safety Legislation Amendment Act 2023\nA2023-13 pt 2\nnotified LR 11 April 2023\ns 1, s 2 commenced 11 April 2023 (LA s 75 (1))\npt 2 commenced 12 April 2023 (s 2)\nHousing and Consumer Affairs Legislation Amendment Act 2024\nA2024-29 pt 2, sch 1 pt 1.1\nnotified LR 9 July 2024\ns 1, s 2 taken to have commenced 1 July 2024 (LA s 75 (2))\npt 2 taken to have commenced 1 July 2024 (s 2 (3))\nsch 1 pt 1.1 commenced 16 July 2024 (s 2 (1))\nBetter Regulation Legislation Amendment Act 2025 A2025-13 pt 2\nnotified LR 26 May 2025\ns 1, s 2 commenced 26 May 2025 (LA s 75 (1))\npt 2 commenced 9 June 2025 (s 2 (1))\nStatute Law Amendment Act 2025 A2025-29 sch 4 pt 4.8\nnotified LR 6 November 2025\ns 1, s 2 commenced 6 November 2025 (LA s 75 (1))\nsch 4 pt 4.8 commenced 6 December 2025 (s 2 (5))\n\nCommencement\ns 2 om LA s 89 (4)\ns 3 am A2024-29 amdt 1.1\nApplication of Act\ns 6 am A2016-13 amdt 1.5\nMeaning of fair trading legislation\ns 7 sub A2007-3 amdt 3.21\nam A2010-54 amdt 3.1\nMeaning of licensed property agent\ns 7A ins A2022-8 s 4\nCarrying on business as real estate agent\ns 8 am A2008-45 amdt 1.1; pars renum R15 LA; A2022-8 s 5, s 6;\npars renum R37 LA\nPeople not taken to carry on business as real estate agent\ns 8A ins A2008-45 amdt 1.2\nCarrying on business as stock and station agent\ns 9 am A2015-15 amdt 3.2; A2022-8 s 7\nCarrying on business as land auctioneer\ns 11 om A2014-17 amdt 1.1\nins A2022-8 s 8\nCarrying on business as employment agent\ns 12 om A2024-29 s 6\nEmployees not taken to carry on business as agents\ns 13 am A2014-17 amdt 1.2; pars renum R26 LA; A2024-29 s 7\nApplication—div 3.1\ns 16 sub A2022-8 s 9\nMeaning of licensed—div 3.1\ns 17 sub A2022-8 s 9\nLand auctioneers must be licensed\ns 21 om A2014-17 amdt 1.3\nins A2022-8 s 10\nam A2023-13 s 5; ss renum R39 LA\nEmployment agents must be licensed\ns 22 am A2007-22 amdt 1.1\nom A2024-29 s 8\n\nClasses of property agent licence\ns 23A ins A2022-8 s 11\nProperty agents must have correct class of licence\ns 23B ins A2022-8 s 11\nEligibility, qualifications and disqualification—agents\ndiv 3.2 hdg sub A2022-8 s 12\nEligibility for licences\ns 24 am A2004-32 s 4, s 5; ss renum R3 LA (see A2004-32 s 6);\nA2005-11 s 4; A2014-17 amdt 1.4, amdt 1.5; ss renum\nR26 LA; A2022-8 s 13, s 14; ss renum R37 LA\nQualifications and experience for licences\ns 25 sub A2022-8 s 15\nAdditional eligibility grounds for travel agents\ns 26 am A2005-11 s 5, s 6\nom A2014-17 amdt 1.6\nPeople disqualified from being licensed\ns 27 am A2008-5 s 4, s 5; A2008-36 amdt 1.39; A2020-42 s 5; pars\nrenum R36 LA; A2022-8 s 16\nSuitability—real estate agents\ns 27A ins A2020-42 s 6\nam A2022-8 s 17\nLicence procedures and details—agents\ndiv 3.3 hdg sub A2022-8 s 18\nAdvertising intended licence applications\ns 28 am A2009-20 amdt 3.1; A2015-33 amdt 1.6; A2022-8 s 19,\ns 20\nLicence applications\ns 29 am A2008-5 s 6; A2022-8 s 21; ss renum R37 LA; A2025-29\nDecisions on licence applications\ns 33 am A2008-36 amdt 1.17; A2022-8 s 22; ss renum R37 LA\nLicence conditions\ns 34 am A2008-36 amdt 1.39\nTerm of licences\ns 35 am A2013-28 s 4\nRenewal of licences\ns 36 am A2008-36 amdt 1.17; A2025-29 amdt 4.8\n\nContinuation of existing licences until renewal applications decided\ns 37 hdg sub A2013-44 amdt 3.1\ns 37 am A2013-28 s 5; A2013-44 amdt 3.2\nLicence certificates\ns 38 am A2025-29 amdt 4.8\nOccupational discipline—agents\ndiv 3.4 hdg sub A2008-36 amdt 1.18\ndiv 3.4 hdg note am A2010-54 amdt 3.2\nGrounds for occupational discipline—agents\ns 41 hdg sub A2008-36 amdt 1.19\ns 41 am A2005-11 s 7; A2008-5 s 7; A2008-36 amdt 1.20,\namdt 1.39; A2014-17 amdt 1.7; pars renum R26 LA\nApplication to ACAT for occupational discipline—agents\ns 42 sub A2008-36 amdt 1.21\nOccupational discipline orders—agents\ns 43 am A2008-5 s 8\nsub A2008-36 amdt 1.21\nam A2008-45 amdt 1.3; A2011-41 amdt 5.1\nRegistration of assistant property agents\npt 4 hdg am A2022-8 s 100\nAssistant property agents to be registered\ndiv 4.1 hdg am A2022-8 s 100\nMeaning of registered—div 4.1\ns 44 sub A2022-8 s 23\nAssistant real estate agents must be registered\ns 45 hdg sub A2022-8 s 24\ns 45 am A2014-49 s 7, s 8; A2022-8 s 25, s 26\nAssistant stock and station agents must be registered\ns 46 hdg sub A2022-8 s 27\ns 46 am A2014-49 s 9, s 10; A2022-8 s 28, s 29\nAssistant business agents must be registered\ns 47 hdg sub A2022-8 s 30\ns 47 am A2014-49 s 11, s 12; A2022-8 s 31, s 32\nAssistant property agents must be registered to recover fees etc\ns 48 sub A2022-8 s 33\nEligibility, qualifications and disqualification—assistant property agents\ndiv 4.2 hdg sub A2022-8 s 34\nEligibility for registration\ns 49 am A2022-8 s 35; ss renum R37 LA\n\nQualifications and experience for registration\ns 50 sub A2022-8 s 36\nPeople disqualified from being registered\ns 51 am A2008-5 s 9, s 10; A2008-36 amdt 1.39; A2020-42 s 7;\npars renum R36 LA; A2022-8 s 37, s 38, s 101\nSuitability—assistant real estate agents\ns 51A hdg sub A2022-8 s 39\ns 51A ins A2020-42 s 8; A2022-8 ss 40-42\nRegistration procedures and details—assistant property agents\ndiv 4.3 hdg sub A2022-8 s 43\nAdvertising intended registration applications\ns 52 am A2009-20 amdt 3.1; A2015-33 amdt 1.7; A2022-8 s 44,\ns 45\nRegistration applications\ns 53 am A2008-5 s 11; A2022-8 s 46; ss renum R37 LA; A2025-29\nDecisions on registration applications\ns 57 am A2008-36 amdt 1.22\nRegistration conditions\ns 58 am A2008-36 amdt 1.39; A2022-8 s 101\nTerm of registration\ns 59 am A2013-28 s 6\nRenewal of registrations\ns 60 am A2008-36 amdt 1.22; A2022-8 s 101; A2025-29 amdt 4.8\nContinuation of existing registrations until renewal applications decided\ns 61 am A2013-28 s 7; A2013-44 amdt 3.2; A2022-8 s 100, s 101\nRegistration certificates\ns 62 am A2022-8 s 101; A2025-29 amdt 4.8\nSurrender of registration\ns 63 am A2022-8 s 101\nOccupational discipline—registered assistant property agents\ndiv 4.4 hdg sub A2008-36 amdt 1.23\nam A2022-8 s 100\ndiv 4.4 hdg note am A2010-54 amdt 3.3\nMeaning of registered assistant property agent—div 4.4\ns 64 sub A2022-8 s 47\n\nGrounds for occupational discipline—assistant property agents\ns 65 hdg sub A2008-36 amdt 1.24\nam A2022-8 s 100\ns 65 am A2008-5 s 12; A2008-36 amdt 1.25, amdt 1.39; A2022-8\ns 48, s 101\nApplication to ACAT for occupational discipline—assistant property agents\ns 66 hdg am A2022-8 s 100\ns 66 sub A2008-36 amdt 1.26\nam A2022-8 s 101\nOccupational discipline orders—assistant property agents\ns 67 hdg am A2022-8 s 100\ns 67 am A2008-5 s 13\nsub A2008-36 amdt 1.26\nam A2022-8 s 48, s 101\nConduct of licensed agents and registered assistant property agents\npt 5 hdg am A2022-8 s 100\nMain place of business\ns 68 am A2008-5 s 14\nLicensed agent in charge to have class 1 property agent licence\ns 68A ins A2022-8 s 49\nProperty agent place of business to have class 1 licensed property agent in\ncharge\ns 69 sub A2022-8 s 49\nClass 1 licensed property agent to be in charge of 1 place of business\ns 70 am A2007-22 amdt 1.2; A2014-17 amdt 1.8\nsub A2022-8 s 49\nClass 1 licensed property agent to be in charge of business—exemptions\ns 71 hdg sub A2022-8 s 50\ns 71 am A2022-8 s 51, s 102\nLicensed property agent must not share commission etc with unlicensed\nperson\ns 72 hdg am A2022-8 s 102\ns 72 am A2005-20 amdt 3.1; A2022-8 s 101, s 102\nAgreements between licensed agents to share commission etc\ns 73 am A2015-15 amdt 3.3\nOffences—assistant property agents\ndiv 5.3 hdg sub A2022-8 s 52\n\nLicensed property agent may only employ licensed property agent or\nregistered assistant property agent\ns 75 hdg sub A2022-8 s 53\ns 75 am A2022-8 s 54, s 102; ss renum R37 LA\nAssistant property agents must not sign agency agreements\ns 75A ins A2022-8 s 55\n(2), (4) exp 30 June 2023 (s 75A (4))\nss renum R40 LA\nConflicts of interest—real estate and stock and station agents\ndiv 5.4 hdg sub A2022-8 s 56\nLicensed real estate and stock and station agents must not act for buyer and\nseller of land\ns 77 hdg sub A2022-8 s 57\ns 77 am A2022-8 s 58\nWhen is a statement published?\ns 78 am A2013-44 amdt 3.3\nMeaning of pre-contract information for div 5.6\ns 81 am A2005-20 amdt 3.2\nMeaning of beneficial interest and obtains a beneficial interest for div 5.6\ns 82 am A2022-8 s 101\nAgents must disclose certain information\ns 84 am A2025-29 amdt 4.8\nAssistant property agents must disclose certain information\ns 85 hdg sub A2022-8 s 59\ns 85 am A2022-8 s 60, s 61; A2025-29 amdt 4.8\nAgents must not obtain beneficial interest in land\ns 86 am A2004-18 s 4; A2025-29 amdt 4.8\nAssistant property agents must not obtain beneficial interest in land\ns 87 hdg sub A2022-8 s 62\ns 87 am A2004-18 s 5; A2022-8 s 63, s 64, s 101; A2025-29\nFalse representations to sellers or buyers\ns 88 am A2022-8 s 65, s 101\nRequirement to substantiate selling price estimates\ns 89 am A2022-8 s 65, s 101\nProposed contracts for sale of residential property\ns 89A ins A2003-40 amdt 1.1 (as am A2004-32 s 55)\nam A2022-8 s 66, s 101\n\nContracts for sale of residential property\ns 89B ins A2003-40 amdt 1.1\nam A2022-8 s 101\nTravel agents—further provisions\ndiv 5.7 hdg om A2014-17 amdt 1.9\nMeaning of compensation scheme for div 5.7\ns 90 am A2005-11 s 8\nom A2014-17 amdt 1.9\nParticipation in compensation scheme\ns 91 am A2005-11 s 9\nom A2014-17 amdt 1.9\nPowers of travel agents board of trustees\ns 92 om A2014-17 amdt 1.9\nLegal action by travel agents board of trustees\ns 93 om A2014-17 amdt 1.9\nRights of travel agents board of trustees\ns 94 om A2014-17 amdt 1.9\nDealings with unlicensed travel agents\ns 95 om A2014-17 amdt 1.9\nEmployment agents—further provisions\ndiv 5.8 hdg om A2024-29 s 9\nEmployment agents must only take fee from employer\ns 96 om A2024-29 s 9\nOther offences—agents and assistant property agents\ndiv 5.9 hdg sub A2022-8 s 67\nLending registration certificate\ns 98 am A2022-8 s 68, s 101\nEmployment agents\npt 5A hdg ins A2024-29 s 10\nMeaning of carries on business as an employment agent—pt 5A\ns 98A ins A2024-29 s 10\nEmployment agents must only take fee from employer\ns 98B ins A2024-29 s 10\nApplication of pt 6\ns 99 am A2022-21 s 4\nNo commission or expenses without agency agreement\ns 100 am A2022-8 s 102; A2025-29 amdt 4.8\n\nTrust accounts—licensed property agents\npt 7 hdg sub A2022-8 s 69\nMeaning of licensed property agent—pt 7\ns 101 orig\nreloc and renum as s 104A\npres\nins A2022-8 s 70\nWhat is trust money?\ns 102 am A2022-8 s 102\nMeaning of licensed agent—divs 7.2 and 7.3\ns 104A (prev s 101) sub A2015-15 amdt 3.4\nreloc and renum as s 104A A2015-15 amdt 3.5\nom A2022-8 s 71\nOpening trust accounts\ns 105 am A2009-44 amdt 1.13; A2016-18 amdt 4.2, amdt 4.3;\nA2022-8 s 102\nOpening trust accounts—exemptions\ns 105A ins A2009-44 amdt 1.14\nam A2022-8 s 102\nClosing trust accounts\ns 106 am A2022-8 s 102\nDealing with trust money\ns 107 am A2004-32 s 7; ss renum R3 LA (see A2003-32 s 8);\nA2013-44 amdt 3.4; A2022-8 s 102\nAssistant property agents must not withdraw trust money\ns 107A ins A2022-8 s 72\nLicensed property agents to notify of overdrawn trust accounts\ns 108 hdg sub A2022-8 s 73\ns 108 am A2022-8 s 102\nInterest on trust accounts\ns 109 am A2005-5 s 4\nChange of owners corporation managing agent—former agent to give\nstatement and records\ns 109A ins A2008-45 amdt 1.4\nam A2015-15 amdt 3.6\nMonthly returns by authorised deposit-taking institutions\ns 110 am A2025-29 amdt 4.8\nQuarterly statements by licensed property agents\ns 111 hdg sub A2022-8 s 73\ns 111 am A2022-8 s 102; A2025-29 amdt 4.8\n\nAudit of trust accounts\ndiv 7.4 hdg note am A2015-15 amdt 3.7\nom A2025-13 s 4\nAudit period\ns 113 am A2022-8 s 102\nQualifications for auditors\ns 114 am A2013-44 amdt 3.5; A2025-29 amdt 4.8\nRequirement for audit\ns 115 am A2005-20 amdt 3.3; A2017-17 ss 5-7; ss renum R35 LA;\nA2022-8 s 102\nIf no trust money held during audit period\ns 116 am A2013-44 amdt 3.6;\nom A2014-49 s 13\nAudit obligations of partners\ns 117 am A2022-8 s 102\nAuditor reports\ns 118 am A2022-8 s 102\nUnclaimed trust money held by licensed property agents\ns 119 hdg am A2022-8 s 102\ns 119 am A2022-8 s 102\nTrust money held by former licensed property agents\ns 120 hdg am A2022-8 s 102\ns 120 am A2022-8 s 102\nTrust money held by personal representatives of licensed property agents\ns 121 hdg am A2022-8 s 102\ns 121 am A2022-8 s 102\nContent of statements\ns 122 am A2022-8 s 102; A2025-29 amdt 4.8\nDuties of commissioner in relation to unclaimed money in trust accounts\ns 123 am A2009-20 amdt 3.1; A2015-33 amdt 1.8; A2016-13\namdt 1.5; A2017-4 amdt 3.5; A2025-29 amdt 4.8\nPayment of unclaimed money to public trustee and guardian\ns 124 hdg am A2016-13 amdt 1.5\ns 124 am A2005-20 amdt 3.4; A2013-11 amdt 1.1; A2016-13\namdt 1.5; A2022-8 s 74; A2025-29 amdt 4.8\nApplications to recover money\ns 125 om A2013-11 amdt 1.2\n\nDecisions on recovery applications\ns 126 am A2005-20 amdt 3.5, amdt 3.6\nom A2013-11 amdt 1.2\nWhat records must be kept\ns 127 am A2025-13 s 5\nHow records must be kept\ns 128 hdg sub A2025-13 s 6\ns 128 am A2025-13 s 7\nReceipts\ns 130 am A2014-17 amdt 1.10; A2024-29 s 11\nFreezing accounts—licensed property agents\ndiv 8.2 hdg sub A2022-8 s 75\nDefinitions—div 8.2\ns 131 sub A2022-8 s 76\ndef account sub A2022-8 s 76\ndef agent om A2022-8 s 76\ndef licensed property agent ins A2022-8 s 76\ndef stop direction sub A2022-8 s 76\nMeaning of administrator—pt 9\ns 138 sub A2015-15 amdt 3.8\nWhen administrators may be appointed\ns 139 sub A2008-5 s 15\nConsumer compensation fund—licensed property agents\npt 10 hdg sub A2022-8 s 77\nConsumer compensation fund\ns 144 am A2011-22 amdt 1.29, amdt 1.31\nClaims against compensation fund\ndiv 10.2 hdg sub A2013-44 amdt 3.7\nDefinitions—div 10.2\ns 147 sub A2022-8 s 78\ndef claimant sub A2022-8 s 78\ndef licensed agent om A2022-8 s 78\ndef licensed property agent ins A2022-8 s 78\nApplication—div 10.2\ns 148 sub A2022-8 s 78\nEntitlement to claim compensation\ns 149 am A2008-45 amdt 1.5; ss renum R15 LA; A2022-8 s 102\nNotice inviting claims\ns 150 am A2009-20 amdt 3.1; A2015-33 amdt 1.9; A2022-8 s 102\n\nClaims for compensation\ns 151 am A2005-20 amdt 3.7; A2013-44 amdt 3.8; A2016-18\namdt 3.11, amdt 3.12\nRequirement to give information and produce documents\ns 152 am A2013-44 amdt 3.9; A2016-18 amdt 3.13\nRequirement to begin proceedings\ns 153 am A2022-8 s 102\nPayment of compensation\ns 155 am A2011-22 amdt 1.31; A2022-8 s 102\nInterim payment of compensation\ns 156 am A2011-22 amdt 1.31\nInsufficiency of compensation fund\ns 157 am A2011-22 amdt 1.31\nSubrogation\ns 159 am A2022-8 s 102\nRegister information\ns 161 am A2008-36 amdt 1.27; A2022-8 s 79\nAmounts received under Act\ns 162 am A2008-29 amdt 1.6\nsub A2008-37 amdt 1.17\nam A2011-22 amdt 1.31\nDetermination and payment of amounts for compensation fund\ns 163 am A2008-36 amdt 1.28\nsub A2008-37 amdt 1.17\nam A2025-29 amdt 4.8\nProtection from liability\ns 165 am A2017-4 amdt 3.6\nNotification and review of decisions\npt 12 hdg sub A2008-36 amdt 1.29\nMeaning of reviewable decision—pt 12\ns 166 sub A2008-36 amdt 1.29\nReviewable decision notices\ns 167 sub A2008-36 amdt 1.29\nam A2025-29 amdt 4.8\nApplications for review\ns 168 sub A2004-18 s 6; A2008-36 amdt 1.29\nam A2011-22 amdt 1.31; A2025-29 amdt 4.8\nFalse or misleading statements\ns 169 am A2005-20 amdt 3.8; A2022-8 s 80\n\nRules of conduct\ns 171 am A2022-8 s 81, s 82, s 101; ss renum R37 LA\nReview of disqualifications\ns 172 om A2008-36 amdt 1.30\nEvidentiary certificates\ns 173 am A2008-36 amdt 1.31\nDisplacement of Corporations legislation\ns 175 am A2023-13 s 6\nDetermination of fees\ns 176 am A2013-44 amdt 3.10; A2025-29 amdt 4.8\nApproved forms\ns 177 am A2013-44 amdt 3.10; A2025-29 amdt 4.8\nRegulation-making power\ns 178 am A2022-8 s 100; A2025-29 amdt 4.8\nTransitional provisions\npt 14 hdg exp 1 November 2007 (s 203)\nDefinitions\ndiv 14.1 hdg exp 1 November 2005 (s 201)\nDefinitions for pt 14\ns 179 exp 1 November 2005 (s 201)\nLicensed agents under repealed Act\ndiv 14.2 hdg exp 1 November 2005 (s 201)\nLicensed agents under repealed Act generally\ns 180 exp 1 November 2005 (s 201)\nSuspended licensed agents under repealed Act\ns 181 exp 1 November 2005 (s 201)\nPeople disqualified from holding licence under repealed Act\ns 182 exp 1 November 2005 (s 201)\nFormer licensed agents\ns 183 exp 1 November 2005 (s 201)\nRegistered agents under repealed Act and employees\ndiv 14.3 hdg exp 1 November 2005 (s 201)\nRegistered agents under repealed Act generally\ns 184 exp 1 November 2005 (s 201)\nEmployees need not have qualifications for 2 years\ns 185 exp 1 November 2005 (s 201)\n\nOther provisions about the repealed Act\ndiv 14.4 hdg exp 1 November 2005 (s 201)\nRegister\ns 186 exp 1 November 2005 (s 201)\nBoard property\ns 187 exp 1 November 2005 (s 201)\nProceedings and evidence\ns 188 exp 1 November 2005 (s 201)\nPending licence applications\ns 189 exp 1 November 2005 (s 201)\nTrust accounts\ns 190 exp 1 November 2005 (s 201)\nAdministrative accounts\ns 191 exp 1 November 2005 (s 201)\nAgents fidelity guarantee fund\ns 192 exp 1 November 2005 (s 201)\nCompensation claims––entitlement and beginning\ns 193 exp 1 November 2005 (s 201)\nCompensation claims––board\ns 194 exp 1 November 2005 (s 201)\nCompensation payments\ns 195 exp 1 November 2005 (s 201)\nDisciplinary proceedings\ns 196 exp 1 November 2005 (s 201)\nSurrender of licences\ns 197 exp 1 November 2005 (s 201)\nAdministrators\ns 198 exp 1 November 2005 (s 201)\nAuctioneers\ndiv 14.5 hdg exp 1 November 2005 (s 201)\nLicensed auctioneers\ns 199 exp 1 November 2005 (s 201)\nModification and expiry of pt 14\ndiv 14.6 hdg exp 1 November 2005 (s 201)\nRegulations modifying pt 14\ns 200 exp 1 November 2005 (s 201)\n\nExpiry\ns 201 exp 1 November 2005 (s 201)\nAgents’ record\ndiv 14.7 hdg exp 1 November 2005 (s 201)\nKeeping of agents’ records\ns 202 am A2004-18 s 7\nexp 1 November 2007 (s 203)\nExpiry of pt 14\ns 203 exp 1 November 2007 (s 203)\nRepeals and consequential amendments\npt 15 hdg om R1 LA\nAuctioneers Act 1959, s 16 relocation\ns 204 om LA s 89 (3)\nActs repealed\ns 205 om LA s 89 (3)\nSubordinate law repealed\ns 206 om LA s 89 (3)\nInstruments repealed—sch 2\ns 207 om LA s 89 (3)\nActs amended—sch 3\ns 208 om LA s 89 (3)\nTransitional—Unit Titles Amendment Act 2008 (No 2)\npt 20 hdg ins A2008-45 amdt 1.6\nexp 1 July 2010 (s 222)\ns 220 ins A2008-45 amdt 1.6\nTransitional effect—Legislation Act, s 88\ns 221 ins A2008-45 amdt 1.6\nExpiry—pt 20\ns 222 ins A2008-45 amdt 1.6\nTransitional—Justice and Community Safety Legislation Amendment Act\npt 21 hdg ins A2014-17 amdt 1.11\n\nDefinitions—pt 21\ns 223 ins A2014-17 amdt 1.11\ndef compensation scheme ins A2014-17 amdt 1.11\ndef repeal day ins A2014-17 amdt 1.11\ndef transition period ins A2014-17 amdt 1.11\ndef travel agents trust deed ins A2014-17 amdt 1.11\nContinued provision for travel agents board of trustees\ns 224 ins A2014-17 amdt 1.11\nCertain review rights preserved\ns 225 ins A2014-17 amdt 1.11\ns 226 ins A2014-17 amdt 1.11\nExpiry—pt 21\ns 227 ins A2014-17 amdt 1.11\nTransitional—Fair Trading and Other Justice Legislation Amendment\nAct 2022\npt 22 hdg ins A2022-8 s 83\nDefinitions—pt 22\ns 228 ins A2022-8 s 83\nLicensed agents\ns 229 ins A2022-8 s 83\nLicensed agents in charge\ns 230 ins A2022-8 s 83\nExperienced property agents who elect to become class 1 licensed property\ns 231 ins A2022-8 s 83\nam A2023-13 s 7\n\nConditional real estate agent licences—acting as auctioneer of land\ns 232 ins A2022-8 s 83\nConditional stock and station agent licences—acting as auctioneer of rural\nland\ns 233 ins A2022-8 s 83\nRegistered salespeople\ns 234 ins A2022-8 s 83\nUnqualified real estate salespeople\ns 235 ins A2022-8 s 83\nOwners corporation managing agents—licensed agent in charge\ns 236 ins A2022-8 s 83\nOwners corporation managing agents\ns 237 ins A2022-8 s 83\nOffence against s 21 (1) (b) (i)—exception for licensed real estate, stock and\nstation agents\ns 237A ins A2023-13 s 8\nOffence against s 21 (1) (b) (i)—exception for registered assistant real estate,\nstock and station agents\ns 237B ins A2023-13 s 8\nClass 1 licensed property agents—equivalent additional class 1 training\ns 237C ins A2023-13 s 8\nexp 30 June 2024 (s 237C (2))\ns 238 ins A2022-8 s 83\nExpiry—pt 22\ns 239 ins A2022-8 s 83\nReviewable decisions\nsch 1 am A2008-5 s 16; items renum R12 LA; A2008-36 amdt 1.32;\nA2009-44 amdt 1.15; items renum R17 LA; A2022-8 s 84,\ns 85, s 101; items renum R37 LA\n\nInstruments repealed\nsch 2 om LA s 89 (3)\nConsequential amendments\nsch 3 om LA s 89 (3)\ndict am A2008-36 amdts 1.33-1.35; A2009-20 amdt 3.2; A2010-54\namdt 3.4; A2011-22 amdt 1.30; A2011-49 amdt 1.1;\nA2015-33 amdt 1.10; A2016-13 amdt 1.6; A2016-18\namdt 3.14; A2017-4 amdt 3.7, amdt 3.8; A2020-42 s 9\ndef account sub A2015-15 amdt 3.9; A2022-8 s 86\ndef ACT dishonesty offence ins A2020-42 s 10\ndef agency agreement om A2015-15 amdt 3.10\ndef agent sub A2008-36 amdt 1.36\nam A2014-17 amdt 1.12; A2017-4 amdt 3.9\nsub A2022-8 s 86\nam A2024-29 s 12; pars renum R41 (RI) LA\ndef agent, for div 3.4 om A2008-36 amdt 1.36\ndef agents licence am A2014-17 amdt 1.13\nsub A2022-8 s 86\nam A2024-29 s 13; pars renum R41 (RI) LA\ndef assistant property agent ins A2022-8 s 87\ndef carries on business as am A2014-17 amdt 1.14\nsub A2022-8 s 88\nam A2024-29 s 14\ndef claimant am A2013-44 amdt 3.11; A2015-15 amdt 3.11\ndef class 1 licensed business agent ins A2022-8 s 89\ndef class 1 licensed property agent ins A2022-8 s 89\ndef class 1 licensed real estate agent ins A2022-8 s 89\ndef class 1 licensed stock and station agent ins A2022-8\ns 89\ndef class 2 licensed business agent ins A2022-8 s 89\ndef class 2 licensed property agent ins A2022-8 s 89\ndef class 2 licensed real estate agent ins A2022-8 s 89\ndef class 2 licensed stock and station agent ins A2022-8\ns 89\ndef compensation scheme om A2014-17 amdt 1.15\ndef compensation scheme participant om A2014-17\namdt 1.15\ndef daily ACT newspaper om A2009-20 amdt 3.3\ndef details am A2022-8 s 90\ndef employee condition ins A2005-11 s 10\nom A2014-17 amdt 1.15\n\ndef employment agent service om A2024-29 s 15\ndef executive officer sub A2024-29 amdt 1.2\ndef former licensed agent om A2015-15 amdt 3.12\ndef former registered salesperson om A2015-15 amdt 3.12\ndef ground for disciplinary action om A2008-36 amdt 1.37\ndef ground for occupational discipline ins A2008-36\namdt 1.37\nam A2015-15 amdt 3.13; A2022-8 s 91\ndef investigator sub A2007-3 amdt 3.22\nam A2010-54 amdt 3.5\nom A2017-4 amdt 3.10\ndef kind of licence am A2014-17 amdt 1.16\nom A2015-15 amdt 3.14\ndef kind of registration om A2015-15 amdt 3.14\ndef land auctioneer ins A2022-8 s 92\ndef land auctioneer service ins A2022-8 s 92\ndef lessee om A2015-15 amdt 3.15\ndef licensed agent sub A2015-15 amdt 3.16; A2022-8 s 93\ndef licensed business agent sub A2022-8 s 93\ndef licensed employment agent om A2024-29 s 15\ndef licensed land auctioneer ins A2022-8 s 94\ndef licensed property agent ins A2022-8 s 94\ndef licensed real estate agent sub A2022-8 s 95\ndef licensed stock and station agent sub A2022-8 s 95\ndef licensed travel agent om A2014-17 amdt 1.17\ndef livestock om A2015-15 amdt 3.17\ndef non-ACT offence ins A2020-42 s 10\ndef owners corporation managing agent ins A2008-45\namdt 1.7\nam A2011-41 amdt 5.2\nom A2015-15 amdt 3.18\ndef police certificate ins A2008-5 s 17\nam A2011-49 amdt 1.2; A2015-45 amdt 1.1; A2017-4\namdt 3.11\ndef register sub A2015-15 amdt 3.19\ndef registered sub A2022-8 s 95\ndef registered assistant business agent ins A2022-8 s 96\ndef registered assistant property agent ins A2022-8 s 96\ndef registered assistant real estate agent ins A2022-8 s 96\ndef registered assistant stock and station agent ins\nA2022-8 s 96\ndef registered business salesperson om A2022-8 s 97\ndef registered real estate salesperson om A2022-8 s 97\ndef registered salesperson sub A2008-36 amdt 1.38\nom A2022-8 s 97\ndef registered salesperson, for div 4.4 om A2008-36\namdt 1.38\n\ndef registered stock and station salesperson om A2022-8\ns 97\ndef relevant offence ins A2020-42 s 10\ndef salesperson om A2022-8 s 97\ndef sexual offence ins A2020-42 s 10\ndef stock and station agent service sub A2022-8 s 98\ndef stop direction am A2022-8 s 99\ndef travel agents board of trustees om A2014-17 amdt 1.17\ndef travel agent service om A2014-17 amdt 1.17\ndef travel agents trust deed om A2014-17 amdt 1.17\ndef trust account om A2015-15 amdt 3.20\n\nEarlier republications 5\nSome earlier republications were not numbered. The number in column 1 refers to\nthe publication order.\nSince 12 September 2001 every authorised republication has been published in\nelectronic pdf format on the ACT legislation register. A selection of authorised\nrepublications have also been published in printed format. These republications are\nmarked with an asterisk (*) in column 1. Electronic and printed versions of an\nauthorised republication are identical.\nfor\n1 Nov 2003\n1 Nov 2003-\n19 Apr 2004\nA2003-40 new Act\n20 Apr 2004\n20 Apr 2004-\nA2004-18 amendments by\nA2004-18\n30 June 2004-\nA2004-32 amendments by\nA2004-32\n1 July 2004–\n23 Feb 2005\nA2004-32 amendments by\nA2003-40\n24 Feb 2005\n24 Feb 2005-\n11 Mar 2005\nA2005-5 amendments by\nA2005-5\n12 Mar 2005\n12 Mar 2005-\nA2005-11 amendments by\nA2005-11\n2 June 2005-\n1 Nov 2005\nA2005-20 amendments by\nA2005-20\n2 Nov 2005\n2 Nov 2005-\n11 Apr 2007\nA2005-20 commenced expiry\n12 Apr 2007\n12 Apr 2007–\n5 Sept 2007\nA2007-3 amendments by\nA2007-3\n6 Sept 2007\n6 Sept 2007–\n1 Nov 2007\nA2007-22 amendments by\nA2007-22\n2 Nov 2007\n2 Nov 2007–\nA2007-22 commenced expiry\n1 July 2008–\n26 Aug 2008\nA2008-5 amendments by\nA2008-5\n\nfor\n27 Aug 2008\n27 Aug 2008–\n1 Feb 2009\nA2008-29 amendments by\nA2008-29\n2 Feb 2009\n2 Feb 2009–\nA2008-45 amendments by\nA2008-36,\nA2008-37 and\nA2008-45\n1 July 2009–\n21 Sept 2009\nA2008-45 amendments by\nA2008-45\n22 Sept 2009\n22 Sept 2009–\n21 Dec 2009\nA2009-20 amendments by\nA2009-20\n22 Dec 2009\n22 Dec 2009–\nA2009-44 amendments by\nA2009-44\n2 July 2010–\n31 Dec 2010\nA2009-44 commenced expiry\n1 Jan 2011\n1 Jan 2011–\nA2010-54 amendments by\nA2010-54\n1 July 2011–\n11 Dec 2011\nA2011-22 amendments by\nA2011-22\n12 Dec 2011\n12 Dec 2011–\n29 Mar 2012\nA2011-49 amendments by\nA2011-49\n30 Mar 2012\n30 Mar 2012–\n3 Apr 2013\nA2011-49 amendments by\nA2011-41\n4 Apr 2013\n4 Apr 2013–\n21 Aug 2013\nA2013-11 amendments by\nA2013-11\n22 Aug 2013\n22 Aug 2013–\n24 Nov 2013\nA2013-28 amendments by\nA2013-28\n25 Nov 2013\n25 Nov 2013–\nA2013-44 amendments by\nA2013-44\n1 July 2014-\n16 Nov 2014\nA2014-17 amendments by\nA2014-17\n17 Nov 2014\n17 Nov 2014-\nA2014-49 amendments by\nA2014-49\n10 June 2015-\n13 Oct 2015\nA2015-15 amendments by\nA2015-15\n\nEarlier republications 5\nfor\n14 Oct 2015\n14 Oct 2015–\n6 Nov 2015\nA2015-33 amendments by\nA2015-33\n7 Nov 2015\n7 Nov 2015–\n31 Dec 2015\nA2015-45 amendments by\nA2015-45\n1 Jan 2016\n1 Jan 2016–\n31 Mar 2016\nA2015-45 expiry of\ntransitional\nprovisions (pt 21)\n1 Apr 2016\n1 Apr 2016–\n26 Apr 2016\nA2016-13 amendments by\nA2016-13\n27 Apr 2016\n27 Apr 2016–\n8 Mar 2017\nA2016-18 amendments by\nA2016-18\n9 Mar 2017\n9 Mar 2017–\n30 Aug 2017\nA2017-4 amendments by\nA2017-4\n31 Aug 2017\n31 Aug 2017–\n26 Feb 2021\nA2017-17 amendments by\nA2017-17\n27 Feb 2021\n27 Feb 2021–\nA2020-42 amendments by\nA2020-42\n1 July 2022–\n9 Dec 2022\nA2022-8 amendments by\nA2022-8\n10 Dec 2022\n10 Dec 2022–\n11 Apr 2023\nA2022-21 amendments by\nA2022-21\n12 Apr 2023\n12 Apr 2023–\nA2023-13 amendments by\nA2023-13\n1 July 2023–\nA2023-13 expiry of provision\n(s 75A (2), (4))\n1 July 2024–\nA2023-13 expiry of provision\n(s 237C)\nR41 (RI)\n1 July 2024–\nA2023-13 reissued for\nretrospective\namendments made\nby A2024-29\n\nfor\n16 July 2024–\nA2024-29 amendments by\nA2024-29\n9 June 2025–\nA2025-13 amendments by\nA2025-13\n1 July 2025–\n5 Dec 2025\nA2025-13 expiry of\ntransitional\nprovisions (pt 22)\n\nExpired transitional or validating provisions 6\n6 Expired transitional or validating provisions\nThis Act may be affected by transitional or validating provisions that have expired.\nThe expiry does not affect any continuing operation of the provisions (see\nLegislation Act 2001, s 88 (1)).\nExpired provisions are removed from the republished law when the expiry takes\neffect and are listed in the amendment history using the abbreviation ‘exp’ followed\nby the date of the expiry.\nTo find the expired provisions see the version of this Act before the expiry took\neffect. The ACT legislation register has point-in-time versions of this Act.","sortOrder":180}],"analysis":{"kimi_summary":{"_metrics":{"completionTokens":829},"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":true,"description":"The original 2003 Act focused on traditional property agents (real estate, stock and station, business agents, auctioneers) and travel agents. Over time, the scope has shifted significantly: travel agent provisions were completely removed in 2014; employment agent provisions were added in 2024 (Part 5A); and a major 2022 restructure introduced the two-class licence system for property agents with enhanced supervisory requirements. The trust account and compensation fund provisions have also expanded from covering 'licensed agents' generally to specifically targeting 'licensed property agents', narrowing their application while deepening consumer protections in that sector."},"complexity_factors":["Multiple overlapping categories: 4 types of licensed agents (real estate, stock and station, business, land auctioneer) plus 3 types of registered assistants, each with separate but similar rules","Two-tier licence system (Class 1 and Class 2) with different permissions and supervisory requirements","Extensive cross-referencing to other ACT legislation including Fair Trading (Australian Consumer Law) Act, Civil Law (Sale of Residential Property) Act, Unit Titles (Management) Act, and Commonwealth Corporations Act","Detailed trust account provisions with 7 divisions covering definitions, money handling, periodic returns, audits, and unclaimed money","Nested exceptions and exemptions throughout — e.g., section 71 provides exemptions from sections 68A, 69, and 70 with conditional applications","Significant amendment history (45 republications) showing evolving scope, including removal of travel agent provisions (2014) and addition of employment agent provisions (2024)","Dictionary with 40+ defined terms, many with context-specific meanings (e.g., 'licensed property agent' has 4 different definitions for different parts of the Act)","Strict liability offences (no need to prove intent) mixed with intent-based offences requiring proof of knowledge or recklessness"],"plain_english_summary":"This Act regulates **property agents** and **employment agents** in the Australian Capital Territory (ACT). It establishes a licensing and registration system to ensure people working in these industries are qualified, trustworthy, and accountable.\n\n**Who it covers:**\n- **Licensed agents** — real estate agents, stock and station agents (rural property), business agents (buying/selling businesses), and land auctioneers\n- **Registered assistant property agents** — employees who work under licensed agents\n- **Employment agents** — people who find workers for employers (for a fee)\n\n**What it does:**\n- **Requires licences or registration** — it's illegal to work as an agent or assistant without proper authorisation (penalties up to 100 penalty units and/or imprisonment)\n- **Sets eligibility rules** — applicants must be adults, have required qualifications/experience, and pass \"fit and proper\" tests (including police checks and bankruptcy checks)\n- **Creates two licence classes** — Class 1 (full authority) and Class 2 (limited authority) for property agents, with Class 1 agents required to supervise business operations\n- **Protects consumer money** — licensed property agents must hold client funds in **trust accounts** with strict rules about handling, auditing, and reporting\n- **Establishes a compensation fund** — consumers can claim compensation if a licensed property agent steals or misappropriates money (capped at $50,000 for owners corporation claims)\n- **Prevents conflicts of interest** — agents generally can't act for both buyer and seller, and must disclose any benefits they receive from referrals\n- **Bans certain conduct** — false advertising, dishonest price estimates, obtaining secret interests in property, and sharing commissions with unlicensed people\n\n**Why it matters:**\nThis law protects people buying, selling, or leasing property (often their biggest financial decision) by ensuring agents are competent, honest, and financially accountable. The trust account and compensation fund provisions are particularly important safeguards for consumer money."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"The text as republished records many substantive amendments and additions over time (see the amendment history and endnotes). Examples of scope changes evident in this republication include: the introduction of classes for property agent licences (class 1 and class 2) and related qualification rules (ss 23A–23B; s 25); formalised registration and regulation of assistant property agents (part 4, ss 44–63); expanded trust‑account, reporting and audit regimes and funding of the Consumer Compensation Fund from trust account interest (part 7, s 109; part 10, ss 144–146); a specific Part for employment agents inserted (part 5A, ss 98A–98B); and explicit displacement of the Corporations legislation for administrators under Part 9 (s 175). The endnotes list the amending Acts and dates showing that the Act’s regulatory perimeter and administrative mechanisms have been expanded and refined since the original enactment (see endnotes 3 and 4)."},"complexity_factors":["Large number of subject areas covered (licensing, registration, trust accounting, audits, compensation fund, record keeping, freezing accounts, administrators, offences and discipline) (see parts 3–11).","Multiple licence types and classes (class 1/class 2 property agent structure and per‑kind licences) with delegated qualification rules (ss 23A–23B; s 25).","Extensive cross‑references to other laws and to subordinate instruments (e.g. Fair Trading (Australian Consumer Law) Act, Corporations Act displacement—s 7, s 175; many regulation and declaration powers at ss 25, 50, 171, 178).","Widespread use of strict liability offences across many provisions, increasing legal risk and compliance nuance (multiple sections state strict liability).","Significant administrative discretion vested in the commissioner for fair trading (eligibility, conditions, freezes, appointments, exemptions—ss 24, 25, 31–34, 71, 132, 139).","Detailed trust account mechanics, reporting and audit regime interlinking agents, authorised deposit‑taking institutions and the compensation fund (ss 105–111, 109, 112–118, 144–146).","Multiple enforcement and remedial pathways (criminal penalties, civil recoveries, administrative discipline via ACAT, subrogation and compensation fund processes—parts 3.4, 10, 12).","Transitional and amendment history reflected throughout the Act, increasing interpretive complexity (see endnotes and amendment history)."],"plain_english_summary":"## What this law does, in plain English\n\nThis Act sets the rules for people and businesses who act as agents in the Australian Capital Territory (ACT). It defines who needs a licence or registration, what they must do with clients’ money and records, what they must disclose to buyers and sellers, the offences and penalties for non‑compliance, and the administrative powers used to enforce the rules.\n\nMechanically, the Act does the following:\n\n- Requires licensing or registration for categories of agents and assistants: real estate agents, stock and station agents, business agents, land auctioneers, and assistant property agents (see licensing and registration requirements, including offences for unlicensed practice at sections 18–21, 45–47; definitions at sections 7A, 8–11).  \n- Defines different licence classes for property agents (class 1 and class 2) and requires the correct class to be held (sections 23A–23B; qualification powers at s 25).  \n- Sets eligibility, qualification, experience and disqualification rules for licences and registrations; gives the commissioner for fair trading power to declare required qualifications and to assess suitability (sections 24–27, 25, 27A, 49–51A).  \n- Controls how licences and registrations are applied for, decided, conditioned, renewed and reviewed; requires public notice of intended applications and provides objection and review paths (sections 28–38; review framework at part 12 and schedule 1).  \n- Grants the commissioner broad administrative powers, including to require more information, put conditions on licences or registrations, seek information, freeze or operate accounts, appoint administrators, and exempt agents from some requirements (see powers at sections 31–34, 71, 105A, 132–136, 139–143).  \n- Imposes conduct rules: conflicts of interest (for example, an agent cannot act for buyer and seller of the same land at the same time—s 77), disclosure duties to buyers and sellers about pre-contract information (ss 81, 84–86), limits on agents obtaining beneficial interests in land (ss 82, 86–87), restrictions on who may sign agency agreements (s 75A), and advertising and misrepresentation prohibitions (ss 78–79, 88–89).  \n- Regulates trust money: requires licensed property agents to hold trust accounts, to pay in trust money quickly, to use specified methods when paying out, to notify of overdrawn accounts, and to provide monthly and quarterly reports and audits (trust rules and reporting at ss 102–111, 112–118; offences and penalties at ss 106–109, 110–111, 115).  \n- Sets up the ACT Consumer Compensation Fund to pay victims of licensed agents’ failures to account, funds the compensation pool from interest on notified trust accounts and other lawfully paid amounts, and gives rules for claiming and distributing compensation (see ss 144–159 and s 109 for interest mechanics).  \n- Provides enforcement machinery: strict liability offences (many sections explicitly state strict liability), specified maximum penalties (various sections), occupational discipline applications to ACAT and ACAT powers to suspend or cancel licences and impose conditions (parts 3.4 and 4.4, ss 41–43, 65–67).  \n- Establishes record‑keeping and retention obligations and freezing powers over bank accounts (records at ss 127–130; freezing and stop directions at ss 131–137).  \n\nWhy it matters (what the Act aims to achieve and the mechanisms it uses):\n\n- The Act is part of the ACT’s fair trading legislation and frames agent activity as regulated commercial services (s 7). It uses licensing, registration, conduct rules, trust account controls and a compensation fund to manage risks to clients and the public (see parts 3, 4, 5 and 10).  \n- To support compensation for losses caused by agents’ failures to account, the Act diverts interest earned on notified trust accounts into a compensation fund (interest and funding mechanics: s 109; fund establishment and use: ss 144–146). The Act also gives claimants a statutory route to compensation (ss 149–156).  \n\nWho pays, who decides, and what behaviour changes as a result (source citations):\n\n- Who pays: the compensation fund is supplied primarily by interest paid from notified trust accounts (s 109(1)–(2), s 145). The Minister can determine additional amounts to be put into the fund (s 163). Administrators who are not public servants are to be paid by the Territory initially and the Territory may recover those amounts from the agent (s 143). Agents themselves bear compliance costs: licence fees (s 176), recordkeeping, audits, and operational costs of trust accounts (see ss 105, 111, 115, 127).  \n- Who decides: the commissioner for fair trading decides eligibility, may impose and vary licence/registration conditions, may require information, may freeze accounts and appoint administrators (ss 24, 25, 31–34, 71, 132, 139). The ACAT decides occupational discipline and can make orders cancelling or suspending licences (ss 42–43; ACAT referral framework referenced in ss 42, 66). The Minister sets fees and may determine compensation fund amounts (ss 176, 163). Regulations supplement and prescribe further detail (s 178).  \n- Behavioural effects: the Act makes it a criminal offence to carry on agency services without the required licence or registration, to handle trust money improperly, to conceal disqualifying matters, to misrepresent information or publish false advertising, and to share commissions with unlicensed persons (see offences at ss 18–21, 23, 72, 75, 107, 169). These provisions change incentives: agents must invest in qualifications, record systems, trust accounting and compliance processes; assistant property agents face specific limits on signing agreements and withdrawing trust funds (ss 75A, 107A). The Act also constrains commercial choices—e.g., agents cannot act for both buyer and seller of the same property (s 77), and must disclose referral relationships and benefits (s 81).  \n\nCosts, trade‑offs and implementation points to note (mechanisms and risks):\n\n- Compliance burden and direct costs: licensing and registration (public notices, police certificates—ss 28–30, 29(3)(b)), recordkeeping and retention for 5 years (ss 127–129), trust account operation and audit requirements (ss 105–111, 115–118) impose ongoing costs on agents. Licence conditions and exemption regimes create administrative processes agents must manage (ss 34, 71, 105A).  \n- Administrative discretion and implementation risk: the commissioner has broad discretionary powers (eligibility assessments s 24; declaring qualifications s 25; imposing conditions s 34; freezing accounts s 132; appointing administrators s 139). Those discretionary powers concentrate decision‑making in the regulator and create dependency on administrative practice and resourcing.  \n- Funding trade‑off: interest on trust accounts is diverted to the compensation fund (s 109(1)–(2), s 145). That mechanism channels yield from money held in trust to a public fund for claimants rather than to account holders or banks; the Act allows authorised deposit‑taking institutions to deduct tax or charges when remitting interest amounts (s 109(3)).  \n- Enforcement and legal risk: many contraventions are strict liability offences (noted in multiple provisions), increasing criminal law exposure for agents even where intent is not proved (e.g. ss 18–21, 46–47, 75, 107, 169). The Act also creates civil and administrative enforcement paths (ACAT occupational discipline, s 41; register and public notifications, part 11).  \n- Concentrated benefits vs diffuse costs: licensed agents gain exclusive rights to recover fees and a regulated market (e.g. unlicensed persons cannot recover fees—s 23; sharing commissions with unlicensed persons prohibited—s 72). Compliance costs, administrative fees and diversion of trust interest to the compensation fund spread the financial burden across licensees and institutions.  \n\nWhere to look in the Act for the key mechanisms: licence and registration rules (parts 3 and 4, especially ss 18–21, 24–36, 45–63), trust accounts and related reporting and audit (part 7, especially ss 105–111, 112–118, 119–124), conduct and disclosure obligations (part 5, notably ss 72–77, 81–89, 100), compensation fund (part 10, ss 144–159), administrative powers and enforcement (parts 8–11, ss 131–143, 160–165), and review and ACAT involvement (part 12 and schedule 1)."}},"importantCases":[],"_links":{"self":"/api/acts/agents-act-2003","history":"/api/acts/agents-act-2003/history","analysis":"/api/acts/agents-act-2003/analysis","conflicts":"/api/acts/agents-act-2003/conflicts","importantCases":"/api/acts/agents-act-2003/important-cases","documents":"/api/acts/agents-act-2003/documents"}}