LAND AND BUSINESS (SALE AND CONVEYANCING) ACT 1994 - SECT 23

LAND AND BUSINESS (SALE AND CONVEYANCING) ACT 1994 - SECT 23

23—Agent not to receive commission if contract avoided or rescinded

        (1)         An agent must not demand, receive or retain commission in respect of the sale or purchase of land or a business if the contract by which the transaction is to be effected is rescinded or avoided under this Act.

Maximum penalty: $5 000.

        (2)         Subsection (1) does not apply if—

            (a)         the contract is rescinded under Part 2; and

            (b)         the parties to the contract subsequently enter into another contract for the sale or purchase of the land or business; and

            (c)         commission would, apart from this section, have been payable to the agent in respect of the subsequent contract.

        (3)         Commission received or retained by an agent in contravention of this section may be recovered, as a debt, from the agent by the person by whom it was paid.