1For example, "between $340 000 and $360 000", "from $340 000 to $360 000" or "$340 000 - $360 000".

1 For example, "between $340 000 and $360 000", "from $340 000 to $360 000" or "$340 000 - $360 000". Maximum penalty: $20 000 or imprisonment for 1 year. (3) An agent must not demand, receive or retain commission or expenses in respect of the sale of land if the agent or a sales representative employed by the agent has failed to comply with a requirement of subsection (2) in marketing the land on behalf of the vendor. (4) Commission or expenses received or retained by an agent in contravention of this section may be recovered, as a debt, from the agent by the person by whom it was paid. 24B—Financial and investment advice (1) The regulations may make provision for or with respect to requiring an agent or sales representative who provides financial or investment advice to a person in connection with the sale or purchase of land or a business to provide to the person specified information or warnings. (2) An agent or sales representative who fails to comply with a requirement of the regulations under this section is guilty of an offence. 24C—Agent to disclose certain benefits connected with sale or purchase (1) This section applies in relation to the sale or purchase of land or a business. (2) An agent must disclose to the client in such manner as may be prescribed by the regulations— (a) the nature, source and amount (or estimated amount or value) of any benefit the agent receives or expects to receive from a third person to whom the agent has referred the client, or with whom the agent has contracted, for the provision of services associated with the sale or purchase; and (b) the nature, source and amount (or estimated amount or value) of any other benefit any person receives or expects to receive in connection with the sale or purchase. (3) This section does not require an agent to make a disclosure of— (a) a benefit disclosed in a sales agency agreement with the client; or (b) a benefit received or expected to be received by the agent from the client; or (c) a benefit received or expected to be received by the vendor or purchaser; or (d) a benefit related to the provision of services to the client that have been contracted for by the agent unless the agent has made, or is to make, a separate charge to the client in respect of the cost of the services; or (e) a benefit while the agent remains unaware of the benefit (but in any proceedings against the agent, the burden will lie on the agent to prove that the agent was not, at the material time, aware of the benefit); or (f) a benefit that the agent or another person receives if the agent has disclosed, in accordance with this section, that the agent or other person expected to receive the benefit. (4) For the purposes of this section— (a) the value of a non-monetary benefit is to be determined on the basis of a reasonable estimate in dollars of the value of the benefit to the agent; and (b) if an agent receives a benefit in relation to multiple transactions (whether involving the same or different clients of the agent), the amount or value of the benefit in respect of any 1 of the transactions is to be determined by apportionment between the transactions according to the proportions that the amounts charged to the client or clients in respect of each transaction for the services provided by the third person bear to each other. agent means a purchaser's or vendor's agent; benefit includes a rebate, discount and refund; client means the person for whom the agent is or has been acting; purchaser's agent means— (a) an agent who is or has been authorised to act on behalf of a purchaser in the purchase of land or a business; or (b) a sales representative who is or has been acting for that agent; vendor's agent means— (a) an agent who is or has been authorised to act on behalf of a vendor in the sale of land or a business; or (b) a sales representative who is or has been acting for that agent. 24D—Agent not to retain benefits in respect of services associated with sale or purchase of residential land (1) This section applies in relation to the sale or purchase of residential land. (2) An agent must not seek to obtain from the client an amount for expenses that is more than the amount paid or payable for those expenses by the agent. (3) In determining the amount paid or payable by the agent for expenses, the amount or value of any benefit received or receivable by the agent in respect of the expenses (other than a benefit that is contingent on the happening of an event that has not yet occurred) must be taken into account. (4) If it is not reasonably possible to determine the amount paid or payable by the agent at the time the agent seeks payment for those expenses from the client, the agent may make an estimate of the amount. (5) If the client has paid the agent an amount for expenses based on an estimate under subsection (4) and the agent becomes aware that the amount exceeds the actual amount paid or payable for the expenses by the agent, the agent must immediately pay the client the amount of the excess. (6) If— (a) an agent— (i) refers the client to a third person for the provision of services associated with the sale or purchase of the residential land; or (ii) contracts with a third person for the provision of services associated with the sale or purchase of the residential land that will be separately charged for by the agent; and (b) the agent receives a benefit from the third person as a result of referring the client to the third person or contracting with the third person, the agent must immediately pay the amount or value of the benefit to the client, except to the extent that the agent has accounted for or paid the amount or value of the benefit in accordance with the preceding provisions of this section. (7) If an agent fails to pay an amount as required under subsection (5) or (6), the client may recover the amount as a debt due to the person by the agent. (8) This section does not apply in relation to a benefit disclosed— (a) in a sales agency agreement with the client; or (b) to the client in accordance with section 24C. (9) For the purposes of this section— (a) the value of a non-monetary benefit is to be determined on the basis of a reasonable estimate in dollars of the value of the benefit to the agent; and (b) if an agent receives a benefit in relation to multiple transactions (whether involving the same or different clients of the agent), the amount or value of the benefit in respect of any 1 of the transactions is to be determined by apportionment between the transactions according to the proportions that the amounts charged to the client or clients in respect of each transaction for the services provided by the third person bear to each other. (10) In this section— agent means a purchaser's or vendor's agent; benefit includes a rebate, discount and refund; client means the person for whom the agent is or has been acting; expenses means outgoings or proposed outgoings; purchaser's agent means— (a) an agent who is or has been authorised to act on behalf of a purchaser in the purchase of the residential land; or (b) a sales representative who is or has been acting for that agent; vendor's agent means— (a) an agent who is or has been authorised to act on behalf of a vendor in the sale of the residential land; or (b) a sales representative who is or has been acting for that agent. 24E—Agent to supply valuation in prescribed circumstances (1) An agent who is authorised to sell land or a business on behalf of a person (the vendor) must, if the prescribed circumstances apply, before negotiating the sale of the land or business— (a) arrange a formal written valuation of the land or business, at the agent's own expense, by a person authorised to carry on business as a land valuer under the Land Valuers Act 1994 and approved by the Commissioner; and (b) furnish the vendor with a copy of the land valuer's valuation report. (2) Before regulations are made for the purposes of subsection (1), the Minister must consult with the The Real Estate Institute of South Australia Incorporated. prescribed circumstances means circumstances of a kind prescribed by the regulations in which the agent has a conflict of interest or potential conflict of interest. 24F—Agent not to act for both purchaser and vendor of land or business (1) A person must not act as an agent on behalf of both the vendor and purchaser of the same land or business at the same time. (2) A person must not enter into agreements to act as an agent in the sale or purchase of land or a business if the performance of services by the person under the agreements will or can result in the person acting as an agent on behalf of both the vendor and the purchaser of the same land or business at the same time. (3) For the purposes of this section, without limiting the circumstances in which a person acts as an agent on behalf of both the vendor and purchaser of the same land or business at the same time, a person will be taken to so act if— (a) the sale of land or a business is negotiated by the agent on behalf of a person; and (b) the purchase of the land or business is made subject to the sale of some other land or business by the purchaser; and (c) the agent acts on behalf of the purchaser in the sale of the other land or business. (4) Despite the preceding provisions of this section, an agent may act on behalf of the purchaser in the circumstances referred to in subsection (3) if, before the purchaser authorises the agent to do so— (a) the agent gives the purchaser a warning notice in the form approved by the Commissioner for the purposes of this section; and (b) its receipt is acknowledged by the purchaser in writing on a copy of the form. 24G—Restriction on obtaining beneficial interest in selling or appraising property (1) An agent who is authorised by a person (the vendor) to sell land or a business must not obtain, or be in any way concerned in obtaining, a beneficial interest in the land or business. (a) in the case of an aggravated offence—$100 000 or imprisonment for 2 years; (b) in any other case—$50 000 or imprisonment for 1 year. (2) A sales representative employed by an agent must not obtain, or be in any way concerned in obtaining, a beneficial interest in land or a business that the agent is authorised to sell for a person (the vendor). (a) in the case of an aggravated offence—$100 000 or imprisonment for 2 years; (b) in any other case—$50 000 or imprisonment for 1 year. (2a) If an agent is authorised by a person (the vendor) to sell land or a business, the following persons must not obtain, or be in any way concerned in obtaining, a beneficial interest in the land or business: (a) a natural person who is responsible for managing or supervising the agent's business (including, but not limited to, a natural person referred to in section 10 of the Land Agents Act 1994, in relation to that business); (b) a natural person who is responsible for managing or supervising 1 or more places of business of the agent at which any of the negotiations, administration or other functions relating to the sale are conducted by employees of the agent or persons otherwise engaged by the agent (including, but not limited to, a natural person referred to in section 11 of the Land Agents Act 1994, in relation to that place of business); (c) in the case of an agent that is a body corporate—a director of the body corporate (within the meaning of the Land Agents Act 1994). (a) in the case of an aggravated offence—$100 000 or imprisonment for 2 years; (b) in any other case—$50 000 or imprisonment for 1 year. (3) An agent or sales representative who appraises land or a business for a person (the vendor) must not obtain, or be in any way concerned in obtaining, a beneficial interest in the land or business. (a) in the case of an aggravated offence—$100 000 or imprisonment for 2 years; (b) in any other case—$50 000 or imprisonment for 1 year. (4) Subject to subsection (10a), a person does not contravene subsection (3) by obtaining a beneficial interest in land or a business if an agent is acting on behalf of the vendor in the sale of the land or business. (5) A person does not contravene this section by obtaining a beneficial interest in land or a business if, before the person obtains the interest, the Commissioner approves such action in accordance with the regulations. (6) Without limiting this section, a person (being an agent, sales representative, natural person, or director of a body corporate, to whom a preceding subsection applies) is considered to obtain a beneficial interest in land or a business if the person or an associate of the person obtains a beneficial interest in the land or business. (7) Without limiting this section, each of the following is considered to constitute the obtaining of a beneficial interest in land or a business: (a) purchasing land or a business; (b) obtaining an option to purchase land or a business; (c) being granted a general power of appointment in respect of land or a business. (8) The court by which a person is convicted of an offence against this section may order the person to pay to the vendor any profit that the person has made, or is, in the opinion of the court, likely to make, from a dealing with the land or business to which the offence relates. (9) If an agent obtains a beneficial interest in land or a business that the agent is authorised to sell, the agent must not demand, receive or retain commission or expenses in respect of the sale or purchase of the land or business unless— (a) the Commissioner has approved the agent obtaining the benefit under subsection (5); and (b) the Commissioner has, when giving that approval, also approved the receipt of the commission or expenses. (a) in the case of an aggravated offence—$20 000; (b) in any other case—$10 000. (10) Commission or expenses received or retained by an agent in contravention of this section may be recovered, as a debt, from the agent by the person by whom it was paid. (10a) In this section, an offence relating to the obtaining of a beneficial interest is an aggravated offence if it is proved that, at the time the beneficial interest was obtained, the vendor or any of the vendors were— (a) 70 years of age or over; or (b) protected persons within the meaning of the Guardianship and Administration Act 1993; or (c) suffering from a mental incapacity, (regardless of whether they were represented by another person during any of the negotiations giving rise to the obtaining of the beneficial interest). (10b) In proceedings, a certificate in the form prescribed by regulation signed by a medical practitioner stating that, in the opinion of the medical practitioner, a specified person was or was not suffering from a mental incapacity at a specified time, will, in the absence of proof to the contrary, be evidence of the facts so stated. (11) In this section— appraise—an agent or sales representative appraises land or a business if the agent or sales representative provides advice, whether or not at the request of the vendor, as to the value of the land or business in circumstances where it may be reasonably assumed that the vendor may rely on the advice of the agent or sales representative; associate, of a person, means— (a) — (i) a relative of the person or of the person's spouse or domestic partner; or (ii) an employee, employer or partner of the person; or (iii) a relative of an employee of the person; or (iv) a body corporate if any of the following persons: (A) the person; (B) a relative of the person or of the person's spouse or domestic partner; (C) an employee of the person; (D) 2 or more of the above persons together, have a relevant interest or relevant interests in shares in the body corporate the nominal value of which is 10% or more of the nominal value of the issued share capital of the body corporate; or (v) a body corporate if a director of the body corporate is— (A) a relative of the person or of the person's spouse or domestic partner; or (B) an employee of the person; or (vi) the trustee of a trust if any of the following are beneficiaries of the trust: (A) the person; (B) a relative of the person or of the person's spouse or domestic partner; (C) an employee of the person; (D) a body corporate referred to in subparagraph (iv) or (v); or (vii) a person who has a relationship with the person (whether or not similar to the relationships referred to in the preceding paragraphs) of a kind prescribed by the regulations for the purposes of this section; or (b) in addition— (i) in the case of a natural person referred to in subsection (2a)(a)—a relative of an employee of the relevant agent; or (ii) in the case of a natural person referred to in subsection (2a)(b)—a relative of a person employed at the relevant place or places of business of the agent; beneficiary of a trust includes an object of a discretionary trust; domestic partner means a person who is a domestic partner within the meaning of the Family Relationships Act 1975, whether declared as such under that Act or not; medical practitioner means a person registered under the Health Practitioner Regulation National Law to practise in the medical profession (other than as a student); relative of a person means— (a) the spouse or domestic partner of the person; or (b) a parent (including a step‑parent), grandparent (including a step‑grandparent) or remoter linear ancestor of the person; or (c) a child (including a step‑child) or remoter issue of the person; or (d) a sibling (including a step‑sibling or half‑sibling) of the person; relevant interest has the same meaning as in the Corporations Act 2001 of the Commonwealth; spouse—a person is the spouse of another if they are legally married. 24H—Agent not to pay commission except to officers or employees or another agent (1) An agent must not pay the whole or part of the commission to which the agent is entitled for services as an agent to a person other than— (a) an officer or employee of the agent; or (b) a registered agent. (2) In this section— registered agent means— (a) a registered agent within the meaning of the Land Agents Act 1994; or (b) a person who usually resides in a place outside the State and who is authorised under the law of that place to carry on business as an agent in that place.