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Property and Stock Agents Regulation 2022
2ATerms excluded from agency agreement
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2A Terms excluded from agency agreement
2A Terms excluded from agency agreement
(1) The agency agreement must not include a term or terms to the effect of the following—
(a) the owners corporation or association must pay for the agent’s professional indemnity liability, including insurance excess,
(b) the agent’s liability is limited to a specified monetary amount.
(2) Subsection (1)(b) does not apply to an agreement covered by a professional standards scheme that has been approved by the Professional Standards Council, within the meaning of the Professional Standards Act 1994, and that is in force.