Tasmanian Consolidated Acts Tasmanian Consolidated Acts
- Act 75 of 2005
- Royal Assent 15 December 2005
TABLE OF PROVISIONS
Long Title
PART 1 - Preliminary
1. 1. Short title
2. 2. Commencement
3. 3. Interpretation
4. 4. Application of Act
PART 2 - Real Estate Agents and Property Managers Division 1 -
Limits on right to carry on real estate agency business or property
management business
5. 5. Real estate agency business to be carried on by real estate
agent
6. 6. Property management business to be carried on by property
manager
7. 7. Management of real estate agency business
8. 8. Management of property management business
9. 9. Employment of property managers and assistant property managers
10. 10. Employment of property consultants by real estate agents
11. 11. Limitations on employees of real estate agents
12. 12. Limitations on employees of property managers
13. 13. Real estate agent to keep record of certain employees
14. 14. Property manager to keep record of certain employees
15. 15. Limitation on employment of certain people by real estate
agents
16. 16. Limitation on employment of certain people by property
managers
17. 17. Limitation on employment of certain people by general
auctioneers
Division 2 - Remuneration of real estate agents and property
managers
18. 18. Appointment of real estate agents to be in writing
19. 19. Appointment of property managers to be in writing
20. 20. Property agent to disclose any benefits
21. 21. Fees not recoverable in certain circumstances
Division 3 - Offences in respect of property agents
22. 22. Conflict of interest – acquisition of property
23. 23. Conflict of interest – sale of property
24. 24. Franchising agreements
25. 25. Notice to be displayed by real estate agents
26. 26. Notice to be displayed by property managers
27. 27. Requirements of advertisements by real estate agents
28. 28. Requirements of advertisements by property managers
29. 29. False advertising, &c., by real estate agents
30. 30. False advertising, &c., by property managers
31. 31. Name under which real estate agents may carry on business
32. 32. Name under which property managers may carry on business
PART 3 - Auctions Division 1 - Control of general auctioneering
business
33. 33. General auctioneering business to be carried on by general
auctioneer or real estate agent
34. 34. Management of general auctioneering business
35. 35. Name under which general auctioneer may carry on business
36. 36. Notice to be displayed
37. 37. Requirements of advertisements by general auctioneers
38. 38. False advertising, &c., by general auctioneers
Division 2 - Conduct at public auctions
39. 39. Misrepresentations at public auctions
40. 40. Bids by owner at public auction
41. 41. Permissible owner bids
42. 42. Dummy bids
43. 43. Offence to falsely acknowledge bid
44. 44. Conditions of public auctions to be made available before
auction starts
45. 45. Right to compensation if Part breached
46. 46. Contrary conditions are void
47. 47. Last vendor bid to be identified if property passed in
Division 3 - Conduct of public and private auctions
48. 48. Interpretation of Division 3
49. 49. Certain bidding agreements unlawful
50. 50. Collusive practices prohibited at auctions
51. 51. Successful bidder to supply information to auctioneer
52. 52. Certain notices to be given at auction
Division 4 - Remuneration of general auctioneers
53. 53. Appointment of general auctioneer to be in writing
54. 54. General auctioneer to disclose any benefits
55. 55. Fees not recoverable in certain circumstances
PART 4 - Registration and qualifications Division 1 - Registration
56. 56. Board to maintain Register
57. 57. Part 1 of Register
58. 58. Part 2 of Register
59. 59. Part 3 of Register
60. 60. Application for registration
61. 61. Board to make Register available for public inspection
62. 62. Property agent may apply for licence
63. 63. Certificates of employment
Division 2 - Qualifications
64. 64. Qualifications for registration as real estate agent
65. 65. Qualifications for registration as property manager
66. 66. Qualifications for registration as general auctioneer
67. 67. Continuing education
Division 3 - Period of validity of registration
68. 68. Period of validity of registration
69. 69. Effect of suspension of registration
PART 5 - Property agents board Division 1 - Establishment of Board
70. 70. Property Agents Board established
71. 71. Membership of Board
72. 72. Conditions of appointment to Board
73. 73. Vacancy in Board membership
74. 74. Validity of actions by Board
75. 75. Presumptions in respect of Board
Division 2 - Meetings of Board
76. 76. Meetings of Board
77. 77. Presiding at meetings of Board
78. 78. Procedure at meetings of Board
79. 79. Interests to be disclosed by Board members
80. 80. Indemnity
Division 3 - Duty of Board
81. 81. Duty of Board
82. 82. Code of Conduct to be developed by Board
Division 4 - Powers, &c., of Board
83. 83. Powers of Board
84. 84. Delegation by Board
85. 85. Contracts with Board
86. 86. Committees of Board
87. 87. Employees of Board
88. 88. Confidentiality
Division 5 - Finance of Board
89. 89. Funds of Board
90. 90. Accounts
91. 91. Audit
92. 92. Annual report
PART 6 - Complaints and discipline Division 1 - Complaints about
conduct of property agents
93. 93. Interpretation of Part 6
94. 94. Complaints about conduct of property agents
95. 95. Application of Code of Conduct
96. 96. Complaints procedure
97. 97. Time limits for complaints
98. 98. Dismissal of complaints
99. 99. Withdrawal of complaints
Division 2 - Procedure in dealing with complaints
100. 100. Property agent to be notified of complaint
101. 101. Consideration of conduct complaint
102. 102. Conduct complaints must be investigated
103. 103. Preliminary investigation of conduct complaints
Division 3 - Investigations of conduct complaints
104. 104. Conduct complaints to be investigated efficiently and
expeditiously
105. 105. Powers of Board to investigate conduct complaints
106. 106. Board may obtain search warrant to enter and search
premises
107. 107. Interim order for suspension of registration or qualification
108. 108. Referral of conduct complaints
109. 109. Procedure for minor misconduct
110. 110. Appeals against determinations
111. 111. Procedure if offence suspected
Division 4 - Establishment of Tribunal
112. 112. Application
113. 113. Establishment of Tribunal
114. 114. President of Tribunal
115. 115. Members of Panel
116. 116. Meetings of Tribunal
117. 117. Responsibilities of Tribunal and Board
118. 118. Powers of Tribunal
119. 119. Requirements of summons to property agent
120. 120. Procedures at hearing by Tribunal
Division 5 - Action following hearing
121. 121. Determination by Tribunal
122. 122. Costs and expenses of hearings
123. 123. Notice of action
124. 124. Indemnity
Division 6 - Suspension and disqualification
125. 125. Power of Board to suspend registration or to disqualify
126. 126. Revocation of suspension or disqualification
Division 7 - Appeals
127. 127. Right to appeal decisions of Board
128. 128. Right to appeal decisions of Tribunal
PART 7 - Control of property agents carrying on businesses Division
1 - Protection of trust money, and appointment of receivers and
managers
129. 129. Protection of trust money
130. 130. Appointment of receiver or manager
131. 131. Duty of receiver
132. 132. Receiver may require delivery of trust money and supply of
information
133. 133. Dealings with trust account
134. 134. Power to take proceedings to recover trust money
135. 135. Magistrate may give directions, &c., to receiver
136. 136. Powers of manager
137. 137. Obligations of manager
138. 138. Magistrate may give directions, &c., to manager
139. 139. Remuneration of receivers and managers
140. 140. Receiver and manager to report to Board
141. 141. Termination, &c., of appointment of receiver or manager
Division 2 - Professional indemnity insurance
142. 142. Certain property agents to have professional indemnity
insurance
143. 143. Suspension of registration when professional indemnity
insurance not in force
PART 8 - Trust money, trust accounts and records
144. 144. Trust money
145. 145. Trust money to be paid into trust account
146. 146. "Trust account" defined
147. 147. Accounts regulations
148. 148. Records of transactions
149. 149. Inspection of records of authorised deposit-taking
institutions, &c.
PART 9 - Property agents trust and guarantee fund Division 1 -
Property Agents Trust
150. 150. Property Agents Trust
151. 151. Constitution of Trust
152. 152. Fees and allowances of Trust members
153. 153. Removal of Trust member from office
154. 154. Vacation of office of Trust members
155. 155. Resignation by Trust members
156. 156. Meetings of Trust
157. 157. Trust member not to act in certain circumstances
158. 158. Functions of Trust
159. 159. General powers of Trust
160. 160. Administrative accounts of Trust
161. 161. Protection of Trust members
Division 2 - Schemes of arrangement
162. 162. Board may enter into schemes of arrangement
163. 163. Trust accounts to be kept only with approved institutions
Division 3 - Property Agents Guarantee Fund
164. 164. Property Agents Guarantee Fund
165. 165. Level of Guarantee Fund
166. 166. Administration of Guarantee Fund
167. 167. Use of surplus money in Guarantee Fund
Division 4 - Audit and report
168. 168. Accounts and report
Division 5 - Claims against Guarantee Fund
169. 169. Right to claim compensation
170. 170. Board may invite claims
171. 171. Manner and time for making application for compensation
172. 172. Applicant for compensation to provide details of claim
173. 173. Board may seek further particulars
174. 174. Board to consider application
175. 175. Recovery of claims under professional indemnity insurance
176. 176. Trust to determine compensation payable
177. 177. Notice of determination
178. 178. Reviews
179. 179. Payment of compensation
180. 180. Subrogation
181. 181. Certain property agents may not claim
Division 1 - Preliminary
182. 182. Interpretation of Part 10
183. 183. Application of Part
184. 184. Crown to be bound
Division 2 - Disclosure of information by vendors of land
185. 185. Application of Division
186. 186. Vendors to provide relevant disclosure documents
187. 187. Location of disclosure documents to be contained in
advertisements
188. 188. Vendors to provide relevant disclosure documents before
public auction
189. 189. Contract voidable if relevant disclosure documents not
provided
190. 190. Relevant disclosure documents
191. 191. Vendor statements
192. 192. Warning notices
193. 193. Validity of relevant disclosure documents
194. 194. Variation of disclosure information
195. 195. Offence to provide false, inaccurate or misleading
information
196. 196. Liability of agent
197. 197. Certain conditions to be implied in contract
198. 198. Defences
199. 199. Purchaser’s rights in respect of information provided by
third parties
Division 3 - Cooling-off periods – residential property
200. 200. Cooling-off period
201. 201. Contracts to contain statement of cooling-off rights and
other prescribed information
202. 202. Real estate agent may not receive consideration where
cooling-off right exercised
203. 203. Right to rescind contract for sale of residential property
– cooling-off rights
204. 204. Right to rescind residential agency agreement –
cooling-off rights
205. 205. Waiver of rights under this Division
Division 4 - Supplemental
206. 206. Contracts, &c., to avoid requirements of this Part void
207. 207. Responsibilities of purchaser
208. 208. Prosecutions
PART 11 - Miscellaneous provisions
209. 209. Obstruction
210. 210. Liability of directors, &c.
211. 211. Service of documents
212. 212. Regulations
213. 213. Administration of Act
214. 214. Savings and transitional provisions
215. 215.
216. 216. Legislation repealed
217. 217. Legislation rescinded
SCHEDULE 2
SCHEDULE 3
[ Note: This table has been automatically generated and may be incomplete. ]