127Regulations

127 Regulations (1) The Administrator may make regulations, not inconsistent with this Act, prescribing all matters that this Act requires or permits to be prescribed or that are necessary or convenient to be prescribed for carrying out or giving effect to this Act and, in particular, as to: (a) the fees to be paid for the grant or renewal of a licence or for the grant of registration of an agent's representative; and (b) the annual fees to be paid by the holder of a licence or a registered agent's representative; and (c) applications for renewal or restoration of licences or of registration and the circumstances in which applications may be granted; and (d) the maximum commission, or rate of commission, that agents may receive in respect of services or transactions generally or in respect of specified areas or transactions or classes of transactions; and (da) the exemption by the Minister of natural persons, companies or firms, or members of a specified class of natural persons, companies or firms, from the requirement to be insured under an approved indemnity insurance policy; and (e) the qualifications and experience required to be held by an applicant for a licence to carry on business as an agent; and (f) the educational qualifications required to be held by an applicant for registration as an agent's representative; and (g) the procedures and forms to be followed or used under this Act; and (h) penalties not exceeding a fine of 100 penalty units for an offence against the regulations; and (j) rules of conduct, which may incorporate or adopt by reference (with any necessary changes) rules, provisions, a code or another document relating to professional conduct of agents; and (k) the type of services relating to the sale and transfer of land that a licensed conveyancing agent may and the regulation and limits of those services perform; and

Part XV Transitional matters for Statute Law Amendment (Territory Economic Agents Licensing Act 1979 91 (m) the regulation of licensed agents in respect of professional service or agency activities they may provide or in which they may engage in association with their activities as licensed agents. (2) The Regulations may prescribe a scheme for holding and dealing with trust money received by a licensed agent in the course of business carried on as a corporation manager under the Unit Titles Act 1975 or as a body corporate manager under the Unit Title Schemes Act 2009. Part XIV Transitional matter for Statute Law Revision and Repeals Act 2019