61Breaches by managing agent

#### 61 Breaches by managing agent 61 Breaches by managing agent > > (1) If a managing agent has been delegated a duty by an association and a breach of the duty by the association would constitute an offence under a provision of this Act, the agent is guilty of an offence under that provision (instead of the association) for a breach of the duty by the agent occurring while the delegation remains in force. > > > (1A) It is a defence to a prosecution under subsection (1) if the agent establishes that— > > > > > (a) the breach of the duty was caused by the association, and > > > > > (b) the agent took all reasonable steps to prevent the breach of the duty. > > > (2) A managing agent must not, in connection with the provision of services as a managing agent or the exercise of functions as a managing agent, request or accept a gift or other benefit from another person for himself or herself or for another person. > > > > Maximum penalty— > > > > > (a) for a corporation—500 penalty units, or > > > > > (b) otherwise—100 penalty units. > > > (3) Subsection (2) does not apply to— > > > > > (a) remuneration paid to a managing agent or an employee or contractor of a managing agent by an association, or > > > > > (b) a monetary commission paid to a managing agent, if the payment of the commission is in accordance with the terms of appointment of the managing agent by the association or has been otherwise approved by the association, or > > > > > (b1) a training service provided to, or paid for, a managing agent, if it was related to management functions and the provision or payment is in accordance with the terms of appointment of the managing agent by the association or has been otherwise approved by the association, or > > > > > (c) a gift or other benefit that has a value that is less than the amount prescribed by the regulations for the purposes of this subsection. > > > (3A) An association may only give approval under subsection (3)(b) or (b1) by a resolution at a general meeting. > > > (3B) The motion for the resolution must be accompanied by a document prepared by the managing agent containing— > > > > > (a) details about the commission or training service, including— > > > > > > > (i) for a commission—the amount of the commission and the method of its calculation, or > > > > > > > (ii) for a training service—the monetary value of the training service or, if that is not known, an estimate of the monetary value of the training service, and > > > > > (b) details about the nature of the relationship between the person providing the commission or training service and the managing agent, and > > > > > (c) details about why the approval is in the association’s best interest, and > > > > > (d) a statement that the managing agent believes that accepting the gift or other benefit does not contravene the [Property and Stock Agents Regulation 2022](/view/html/inforce/current/sl-2022-0501), Schedule 1, section 11 and the reasons for the belief. > > > (4) In this section— > > > > gift has the same meaning as in the [Electoral Funding Act 2018](/view/html/inforce/current/act-2018-020). > > **s 61:** Am 2024 No 65, Sch 3\[1\]–\[3\]; 2025 No 14, Sch 2\[14\].