Northern Territory Consolidated Acts Northern Territory Consolidated Acts5. Interpretation
(1) In this Act, unless the contrary intention appears:
accounting records , in relation to a person, includes such working papers and other documents as are necessary to explain the methods and calculations by which accounts of the person are made up.
agent means a real estate agent, business agent or conveyancing agent.
agent's representative means a person who, in the service of, and on behalf of, a licensed agent negotiates or holds himself or herself out as being prepared to negotiate any transaction of a description referred to in subsection (2)(a) or (b).
Board means the Agents Licensing Board of the Northern Territory constituted under Part II.
body corporate manager , under the Unit Title Schemes Act , means a body corporate manager as defined in section 87(1) of that Act.
business manager means a person, with substantive and effective control of one or more of the registered offices of the business operated under a licence, who is specified on the licence as a business manager in respect of the office or offices.
Chairperson means the Chairperson of the Board appointed under section 9 and includes the Deputy Chairperson when acting as the Chairperson.
company means a corporation within the meaning of the Corporations Act 2001.
corporation manager under the Unit Titles Act means a person who for reward (whether monetary or otherwise), and whether or not the person carries on any other business, exercises a power or performs a function on behalf of a corporation or members of a corporation under that Act.
departmental member means the member who is an employee within the meaning of the Public Sector Employment and Management Act appointed under section 7.
Deputy Chairperson means the Deputy Chairperson of the Board elected under section 14(4)(b).
firm includes a business constituted by one person.
Fund means the Agents Licensing Fidelity Guarantee Fund of the Northern Territory established by section 94.
inquiry means a meeting of the Board to conduct an inquiry in pursuance of Part IX.
inspector means an inspector appointed under section 8.
Institute means the Real Estate Institute of the Northern Territory Incorporated.
lease includes a sub-lease.
licence means a licence that is in force under this Act.
licensed agent means an agent licensed to carry on business as an agent.
member means a member of the Board (including the Chairperson or Deputy Chairperson) and includes an acting appointment.
register means the appropriate register kept under section 109.
registered agents representative means a person registered under Part IV as an agent's representative.
registered company auditor means a registered company auditor within the meaning of the Corporations Act 2001.
registered office means an office of which the Registrar has been notified under section 110(2)(a).
Registrar means the Registrar of Land, Business and Conveyancing Agents appointed under section 8.
regulations means regulations made under this Act.
rules of conduct means rules of conduct prescribed in accordance with section 64A(5).
Stipendiary Magistrate means a Stipendiary Magistrate within the meaning ascribed to that term in the Magistrates Act .
trust account means an account referred to in section 50.
trust money means money of a description referred to in section 49.
(2) For the purposes of this Act, but subject to section 4:
(a) real estate agent means a person whose business either alone or as part of or in connection with any other business, is to act as agent for consideration in money or money's worth as commission, reward or remuneration, in respect of:
(i) the sale, purchase, exchange, leasing, letting or other dealings with, or the disposition of; or
(ii) negotiations for the sale, purchase, exchange, leasing, letting or other dealings with, or the disposition of,
land, whether within or outside the Territory, and includes a corporation manager under the Unit Titles Act and a body corporate manager under the Unit Title Schemes Act ; and
(b) business agent means a person whose business either alone or as part of or in connection with any other business, is to act as agent for consideration in money or money's worth as commission, reward or remuneration, in respect of:
(i) the sale, purchase, exchange, leasing or letting or other dealings with, or the disposition of; or
(ii) negotiations for the sale, purchase, exchange, leasing, letting or other dealings with, or the disposition of,
a business or any share or interest in a business, or the goodwill in, or stock-in-trade of, a business, but does not include the sale, purchase, exchange or other dealings with, or the disposition of a share in the capital of a body corporate carrying on a business; and
(c) conveyancing agent means a person whose business either alone or as part of or in connection with any other business, is to act as agent for consideration in money or money's worth as commission, reward or remuneration (whether or not paid directly or indirectly for the service provided), in respect of a matter set out in the Schedule.
(3) In this Act, a reference to a person being licensed or registered as a real estate agent, business agent or conveyancing agent under a law of a State or Territory providing for the licensing or registration of real estate agents, business agents or conveyancing agents, as the case may be, includes a reference to a person being licensed or registered in that State or Territory (not being the Northern Territory) to carry on an activity that, if carried on in the Northern Territory, would be an activity of a kind referred to in subsection (2)(a), (b) or (c), as the case may be.