PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 5 Functions real estate agents and assistant real estate agents may exercise--the Act, s 10A

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 5

5 Functions real estate agents and assistant real estate agents may exercise--the Act, s 10A

(1) A real estate agent who holds a class 1 or class 2 licence may exercise all real estate agent functions.

(2) Despite subsection (1), a real estate agent may not authorise the withdrawal of money from a trust account unless the real estate agent is the licensee in charge of the business to which the trust account relates.

(3) An assistant real estate agent--

(a) may exercise all real estate agent functions other than the functions described in the Act, section 3A(2), definition of
"real estate sale or leasing functions" , paragraphs (a) and (b), but

(b) may not, in the person's capacity as an assistant real estate agent--

(i) enter into a contract for the sale of land, or

(ii) enter into an agency agreement or a franchising agreement, or

(iii) authorise the withdrawal of money from a trust account.