sec.154Beneficial interest—options

### sec.154 Beneficial interest—options This section applies to property placed by a person ( client ) with a property agent for sale. The property agent commits an offence if the agent obtains from the client an option to purchase the property in which the agent has a beneficial interest. Maximum penalty—200 penalty units or 3 years imprisonment. A real estate salesperson employed by the real estate agent commits an offence if the salesperson obtains from the client an option to purchase the property in which the salesperson has a beneficial interest. Maximum penalty—200 penalty units or 3 years imprisonment. The property agent must not sell the property if the agent obtains a beneficial interest in an option to purchase the property. Maximum penalty—200 penalty units or 3 years imprisonment. A person may make a claim, under the Administration Act , against the fund if the person suffers financial loss because of a contravention of this section. (sec.154-ssec.1) This section applies to property placed by a person ( client ) with a property agent for sale. (sec.154-ssec.2) The property agent commits an offence if the agent obtains from the client an option to purchase the property in which the agent has a beneficial interest. Maximum penalty—200 penalty units or 3 years imprisonment. (sec.154-ssec.3) A real estate salesperson employed by the real estate agent commits an offence if the salesperson obtains from the client an option to purchase the property in which the salesperson has a beneficial interest. Maximum penalty—200 penalty units or 3 years imprisonment. (sec.154-ssec.4) The property agent must not sell the property if the agent obtains a beneficial interest in an option to purchase the property. Maximum penalty—200 penalty units or 3 years imprisonment. A person may make a claim, under the Administration Act , against the fund if the person suffers financial loss because of a contravention of this section.