12Estate agents to be licensed

12 Estate agents to be licensed S. 12(1) amended by No. 86/1994 s. 6(1). (1) Subject to this Act an individual shall not either by himself or as a member of a partnership— (a) exercise or carry on or advertise notify or state that he exercises or carries on or is willing to exercise or carry on the business of an estate agent; or (b) act as an estate agent; or (c) in any way hold himself out to the public as ready to undertake for payment or other remuneration (whether monetary or otherwise) any of the functions of an estate agent— unless he is a licensed estate agent. 1. 500 penalty units or imprisonment for 12 months. S. 12(2) amended by No. 86/1994 s. 6(2). (2) Subject to this Act a corporation shall not— (a) exercise or carry on or advertise notify or state that it exercises or carries on or is willing to exercise or carry on the business of an estate agent; or (b) act as an estate agent; or (c) in any way hold itself out to the public as ready to undertake for payment or other remuneration (whether monetary or otherwise) any of the functions of an estate agent— unless it is a licensed estate agent. 1. 1000 penalty units. S. 12(3) amended by Nos 38/1993 s. 6(b), 17/2004 s. 10(1). (3) Where a licensed estate agent does not carry on business as an estate agent otherwise than as an employee of an estate agent— S. 12(3)(a) amended by No. 86/1994 s. 47(b). (a) sections 44, 47, 51, 59(6) and 62 shall apply to him as if he were an agent's representative for the purposes of this Act; and S. 12(3)(b) amended by Nos 86/1994 s. 47(c), 38/2017 s. 84. (b) sections 25, 29 and 91 shall apply to him as if he were an estate agent for the purposes of this Act. Ss 12A–12C inserted by No. 41/2003 s. 17, repealed by No. 103/2004 s. 36.