New South Wales Consolidated Regulations

PROPERTY, STOCK AND BUSINESS AGENTS REGULATION 2003 - REG 13

13 Contents of agency agreements

(1) For the purposes of section 55 of the Act, an agency agreement must comply with the requirements of Schedules 7-14 as to the terms, conditions and other provisions that an agency agreement must or must not contain, with the application of those Schedules to be as follows:

(a) Schedule 7 applies to all agency agreements (in addition to any other Schedule that may be applicable to the agency agreement),

(b) Schedule 8 applies to an agency agreement under which the agent will act for the seller on the sale of residential property,

(c) Schedule 9 applies to an agency agreement under which the agent will act for the buyer on the purchase of land,

(d) Schedule 10 applies to an agency agreement under which the agent will act for the seller on the sale of rural land,

(e) Schedule 11 applies to an agency agreement under which the agent will act for the seller on the sale of a business or professional practice (with a reference in that Schedule to a business including a reference to a professional practice),

(f) Schedule 12 applies to an agency agreement under which the agent will provide property management services in respect of the leasing of residential property or rural land,

(g) Schedule 13 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 14 applies to an agency agreement under which the agent will exercise the functions of a strata managing agent or community managing agent.

(2) A reference in Schedules 7-14 to "property" (other than as a reference to residential property) includes a reference to any land.

(3) An agency agreement must not contain any term, condition or other provision that is inconsistent with a term, condition or other provision that the agency agreement is required to contain by this clause, but otherwise the terms, conditions and other provisions that an agency agreement can contain is not limited by this clause.

(4) For the purposes of section 55 (3) of the Act, each of the following methods of service is prescribed as a means by which an agency agreement may be served on a person:

(a) for service on an individual:

(i) delivering it personally to the person,

(ii) leaving it at the person’s place of residence, or at an address provided in the agency agreement as the person’s address for service, with a person who apparently resides there and who has apparently reached the age of 16 years,

(iii) posting it to the person at the person’s residential address or postal address as disclosed in the agency agreement or at an address provided in the agency agreement as the person’s address for service,

(b) for service on a body corporate:

(i) delivering it personally to the secretary of the body corporate or any other person concerned in the management of the body corporate,

(ii) leaving it at the body corporate’s principal place of business with a person who is apparently employed there and who has apparently reached the age of 16 years,

(iii) posting it to the body corporate at the address of its principal place of business or postal address, as disclosed in the agency agreement.

(5) Subclause (1) does not apply to an agency agreement entered into before the commencement of this clause.

(6) An agency agreement entered into before the commencement of this clause must contain such terms (if any) as it was required to contain under section 42AA of the Property, Stock and Business Agents Act 1941 at the time the agreement was entered into.