48Notice of commission sharing must be given

48 Notice of commission sharing must be given (1) This section applies if an estate agent agrees to share any commission to which he or she becomes entitled in respect of any estate agency work with a person who is not— (a) a licensed estate agent or an agent's representative in his or her employ; or (b) a licensed estate agent with whom he or she is in partnership. (2) Before obtaining a person's signature to an engagement or appointment to do any estate agency work on behalf of the person, the agent must ensure that the person is given a statement that complies with subsection (3). (3) The statement— (a) must state that any commission the agent is entitled to under the engagement or appointment will be shared with one or more other people; and (b) must identify by name every person who is entitled to share the commission with the agent; and (c) must contain any other details required by the regulations; and (d) must be in a form approved by the Director. (4) An estate agent must not pay to another person any share of a commission that the agent has obtained in respect of any estate agency work if the agent failed to comply with subsection (2) in respect of the work. (5) Nothing in this section applies to any engagement or appointment entered into before the date of commencement of section 35 of the **Estate Agents and Sale of Land Acts (Amendment) Act 2003**. S. 48A inserted by No. 41/2003 s. 8.