11Provision of financial and investment advice—the Act, s 46

#### 11 Provision of financial and investment advice—the Act, s 46 11 Provision of financial and investment advice—the Act, s 46 > > (1) This section applies to financial or investment advice— > > > > > (a) intended to influence the person to whom the advice is given in making a decision about a particular financial or investment decision in connection with the sale or purchase of land, or > > > > > (b) that could reasonably be regarded as being intended to have the influence referred to in paragraph (a). > > > (2) For the Act, section 46, a real estate agent who provides financial or investment advice to a person must provide the following warnings and information to the person— > > > > > (a) a warning that the advice is general advice and the preparation of the advice has not taken into account— > > > > > > > (i) the individual circumstances of the person, or > > > > > > > (ii) the person’s objectives, financial situation or needs, > > > > > (b) for advice provided in connection with the purchase of land—a warning that an intending purchaser should assess the suitability of an investment in the property in light of the purchaser’s own needs and circumstances, which the purchaser can do— > > > > > > > (i) personally, or > > > > > > > (ii) by consulting an appropriately licensed financial adviser, > > > > > (c) information that discloses the existence and nature of conflicts of interest the agent may have in connection with the provision of the advice, for example, entitlement to commission or referral fees. > > > > Note— > > > > The Act, section 46 provides that a real estate agent who fails to comply with a requirement to provide information or warning specified in the regulations is guilty of an offence.