Queensland Consolidated Regulations

PROPERTY AGENTS AND MOTOR DEALERS REGULATION 2001

TABLE OF PROVISIONS

           Contents

           Part 1--Preliminary

   1.      Short title
   2.      Commencement

           Part 2--Applications, fees and commissions

   3.      Applications for licence or registration—photograph
   4.      Fee concessions for multiple licences
   5.      Fees
   5A.     Refund of licence issue fee
   5B.     Refund of registration issue fee
   5C.     Refund if licence surrendered or licence term shortened
   5D.     Refund if registration certificate is surrendered
   5E.     Fees that are not refundable
   6.      Commissions

           Part 3--Licences and registration certificates

   7.      Educational or other qualifications for licence—Act, ss 35, 36, 41 and 44
   8.      Period of employment for licence
   9.      Application for renewal or restoration of licence
   10.     Display of licence
   11.     Licensees to notify chief executive of change of circumstances
   12.     Registered employee to notify chief executive of change of circumstances
   13.     Display and publication of licensee's name
   14.     Educational or other qualifications for registration as registered employee—Act, s 90
   15.     Employee particulars for employment register
   16.     Form of employment register

           Part 4--Resident letting agents, real estate agents and pastoral houses

   17.     Appointment of resident letting agent, real estate agent or pastoral house

           Part 5--Auctioneers and motor dealers

   18.     Appointment of auctioneer
   19.     Buyer's premium
   20.     Guarantee of title for motor vehicles
   21.     Unwarranted and restorable vehicles to be identified when offered for sale—auctioneers
   21A.    Unwarranted and restorable vehicles to be identified when offered for sale—motor dealers
   22.     Defects not covered by statutory warranty
   23.     Warrantor to record particulars of extension of warranty period
   24.     Auctioneer or motor dealer to obtain statement from seller of vehicle
   25.     Auctioneer or motor dealer to give statement to buyer of vehicle
   26.     Particular vehicles for sale on consignment to be identified as not being subject to cooling-off period
   28.     Consideration for cooling-off period
   29.     Consideration for option
   30.     Motor dealer to keep transaction register
   31.     Form of transaction register
   32.     Motor dealer receipts
   33.     Auction store books and auction sales books
   34.     Auction contract books
   35.     Sales of livestock by auctioneers
   36.     Form of auction books

           Part 6--Commercial agents

   37.     Statements by commercial agents

           Part 7--Accounts, funds and record keeping

           Division 1--Prescribed books, accounts and records

   38.     Books, accounts and records to be kept by principal licensee
   39.     Entries in books, accounts and records

           Division 2--Register of trust account receipt forms

   40.     Register

           Division 3--Trust account receipt forms

   41.     Trust account receipt forms
   42.     Dealing with trust account receipt forms

           Division 4--Trust account deposit book

   43.     Trust account deposit forms
   44.     Depositing trust money

           Division 5--Disbursement of trust money

   45.     Disbursements

           Division 6--Trust account cash book

   46.     Trust account cash book—entries
   47.     Trust account cash book—reconciliation

           Division 7--Trust account ledger

   48.     Keeping trust account ledgers
   49.     Trust account ledger—form
   50.     Trust account cash book entries to be posted to ledger account

           Division 8--Trust account journals

   51.     Transfer by journal entry

           Division 9--Computer system records

   52.     Keeping computer system records

           Division 10--Auditors

   53.     Application for approval as auditor
   54.     Transfer of trust accounts

           Division 11--Agreements with financial institutions about keeping general trust accounts

   54A.    Financial institutions to which s 410 of the Act applies

           Part 8--Claims against the fund

   55.     Limits on recovery from fund

           Part 9--General

   56.     Amendments of a register or record
   57.     Documents in electronic form
   58.     Keeping documents

           Part 10--Transitional provision

   59.     Limited real estate agent's licences
           SCHEDULE 1 -- FEES
           SCHEDULE 1A -- MAXIMUM COMMISSIONS

           Part 1--Residential property
           1. Maximum commission on purchase or sale of residential property
           2. Maximum commission on letting of residential property
           3. Maximum commission on collection of rents of residential property
           4. Maximum commission on building for removal

           Part 2--Rural land
           5. Maximum commission on sale of freehold rural land
           6. Maximum commission on sale of leasehold rural land
           7. Maximum commission on letting of rural land
           8. Maximum commission on share farming

           Part 3--Exchange of properties
           9. Maximum commission on exchange of properties
           SCHEDULE 2 -- QUALIFICATIONS FOR PARTICULAR LICENCES AND REGISTRATION CERTIFICATES
           1A. Definitions for sch 2
           1. Resident letting agent
           2. Real estate agent
           3. Auctioneer
           4. Motor dealer
           5. Real estate salesperson
           6. Trainee auctioneer
           7. Property developer salesperson
           8. Motor salesperson
           SCHEDULE 3 -- FINANCIAL INSTITUTIONS TO WHICH SECTION 410 OF THE ACT APPLIES
           Endnotes