Australian Capital Territory Consolidated Acts

AGENTS ACT 2003 - SECT 81

In this division:

"pre-contract information", for an agent acting for the buyer or seller of land, means information about—

        (a)     any relationship, and the nature of the relationship (whether personal or commercial), the agent has with anyone whom the agent has referred, refers, or expects to refer, the seller or buyer to for professional services in relation to the sale or purchase; and

        (b)     whether the agent receives, or expects to receive, any benefit, whether financial or otherwise, from a person whom the agent has referred, refers, or expects to refer, the seller or buyer to for professional services and, if so, the amount or value of the benefit; and

        (c)     the amount, value or nature of any benefit anyone (other than the buyer or seller) has received, receives, or expects to receive, in relation to the sale or purchase, or for promoting the sale or purchase, or for providing a service in relation to the sale or purchase, of the land.

Examples of relationships for par (a)

1     a family relationship

2     a business relationship

3     a fiduciary relationship

4     a relationship in which a person is accustomed, or obliged, to act in accordance with the directions, instructions, or wishes of the other

Examples of people who may receive a benefit for par (c)

1     finance broker

2     financial adviser

3     financier

4     property valuer

5     lawyer

6     real estate agent

Note     An example is part of the Act, is not exhaustive and may extend, but does not limit, the meaning of the provision in which it appears (see Legislation Act, s 126 and s 132).