4Real estate agent functions—the Act, s 3A

#### 4 Real estate agent functions—the Act, s 3A 4 Real estate agent functions—the Act, s 3A > > (1) For the Act, section 3A(1), definition of real estate agent functions, the functions— > > > > > (a) include acting as an auctioneer or agent in relation to a parcel of rural land with an area of 20 hectares or less, and > > > > > (b) do not include a person undertaking commercial property agency work on behalf of— > > > > > > > (i) an affiliate of the person, or > > > > > > > (ii) an entity that owns, whether or not together with an affiliate of the entity, a major property holding. > > > (2) In this section— > > > > major property holding means property that has— > > > > > (a) an aggregate market value of $40,000,000 or more, or > > > > > (b) an aggregate gross floor area of 20,000m2 or more.