9Contents of agency agreements—the Act, s 55

#### 9 Contents of agency agreements—the Act, s 55 9 Contents of agency agreements—the Act, s 55 > > (1) For the Act, section 55(2), an agency agreement must comply with the requirements of Schedules 5–12 as to the terms, conditions and other provisions an agency agreement must or must not contain. > > > (2) Schedules 5–12 apply as follows— > > > > > (a) Schedule 5 applies to all agency agreements, > > > > > (b) Schedule 6 applies to an agency agreement under which the agent will act for the seller on the sale of residential property, > > > > > (c) Schedule 7 applies to an agency agreement under which the agent will act as a buyer’s agent on the purchase of land, > > > > > (d) Schedule 8 applies to an agency agreement under which the agent will act for the seller on the sale of rural land, > > > > > (e) Schedule 9 applies to an agency agreement under which the agent will act for the seller on the sale of a business or professional practice, > > > > > (f) Schedule 10 applies to an agency agreement under which the agent will provide property management services in relation to the leasing of residential property or rural land, > > > > > (g) Schedule 11 applies to an agency agreement under which the agent will act for the owner of residential property or rural land in relation to the entering into of a lease of the residential property or rural land, > > > > > (h) Schedule 12 applies to an agency agreement under which the agent will exercise the functions of a strata managing agent. > > > (3) An agency agreement— > > > > > (a) must not contain a term, condition or other provision that is inconsistent with a term, condition or other provision the agency agreement is required to contain by this section, but > > > > > (b) is not otherwise limited by this section in relation to the terms, conditions and other provisions it may contain. > > > (4) Subsection (1) does not apply to an agency agreement entered into before the commencement of the Act on 1 September 2003. > > > (5) An agency agreement entered into before the commencement of the Act must contain the terms it was required to contain under the [Property, Stock and Business Agents Act 1941](/view/html/repealed/current/act-1941-028), section 42AA at the time the agreement was entered into. > > > (6) A reference to property in Schedules 5–12, other than as a reference to residential property, includes a reference to land. > > > (7) A reference to a business in Schedule 9 includes a reference to a professional practice.