96Persons who may apply

96 Persons who may apply (1) Subject to this Part, after the date fixed for the purpose of this section by the Board by notice published in the Gazette, a person who suffers pecuniary loss arising out of a defalcation of trust moneys or misappropriation of other property by: (a) a licensed agent or a partner of a licensed agent; or (b) a person constituting, or an officer or employee of, a firm or company licensed under this Act; or (c) any other person carrying on business as an agent, may apply to the Registrar for compensation under this Part in respect of that loss. (1A) Nothing in subsection (1) shall be construed as permitting a person to apply to the Registrar for compensation in respect of a pecuniary loss arising out of a defalcation of trust moneys or a misappropriation of other property by a person referred to in subsection (1)(c) which occurred before the commencement of the Land and Business Agents Amendment Act 1992. (2) Subject to this Part, the pecuniary loss in respect of which compensation may be paid to an applicant under this Part is the amount of the pecuniary loss suffered by the applicant less any amount that the applicant has recovered from any person in respect of the loss.

Agents Licensing Act 1979 69