LAND AND BUSINESS (SALE AND CONVEYANCING) ACT 1994 - SECT 24H

LAND AND BUSINESS (SALE AND CONVEYANCING) ACT 1994 - SECT 24H

24H—Agent not to pay commission except to officers or employees or another agent

        (1)         An agent must not pay the whole or part of the commission to which the agent is entitled for services as an agent to a person other than—

            (a)         an officer or employee of the agent; or

            (b)         a registered agent.

Maximum penalty: $5 000.

        (2)         In this section—

"registered agent" means—

            (a)         a registered agent within the meaning of the Land Agents Act 1994 ; or

            (b)         a person who usually resides in a place outside the State and who is authorised under the law of that place to carry on business as an agent in that place.