Victorian Consolidated Legislation

ESTATE AGENTS ACT 1980

No. 9428 of 1980
Version incorporating amendments as at 1 January 2009

TABLE OF PROVISIONS

           Section Page
   1.      Short title and commencement
   2.      Repealed

   PART I-INTRODUCTION

   3.      Repealed
   4.      Definitions
   5.      Act not to apply to Government Departments etc.

   PART IIA-THE ESTATE AGENTS COUNCIL

   6.      Estate Agents Council
   6A.     Objectives of the Council
   6B.     Functions and powers of the Council
   6C.     Meetings of the Council

   PART IIB-ADMINISTRATION

   7.      Function of Authority
           7A-7H. Repealed
   8.      Powers of Authority to enter into agreements
   8A.     Repealed
   9.      Functions of Director
   10.     Powers of Director to enter into agreements
   10A.    Director may approve registered education and training organisations
   10B.    Courses of education for approved auditors
   10C.    Notice may be disallowed
   10D.    Further publication of notices
   11.     Delegation by Director
   11A.    Delegation by Secretary

   PART III-LICENCES

   12.     Estate agents to be licensed
           12A-12C Repealed
   13.     Agents' representatives
   13A.    Estate agents to be responsible for the acts of their representatives
   13B.    Auctioneers of real estate
   14.     Eligibility to obtain licence
   15.     Licensing of corporations
   16.     Eligibility for employment as an agent's representative
   16A.    Repealed
   16B.    Offence to aid unqualified person to be an agent's
           representative
   16C.    Transitional provision concerning former sub-agents
   17.     Application for estate agent's licence
   18.     Repealed
   19.     Certain documents to be lodged by particular corporations
   19A.    Consent to disclosure of information
   20.     Application to be referred to Director and Chief Commissioner
   20A.    Provision of information for the purposes of this Act
   21.     Grant and effect of licence
   21A.    Conditions of licence
   21B.    Endorsement of licence
   22.     Automatic cancellation of licence on bankruptcy etc.
   22A.    Delay of effect of certain convictions
   23.     Annual licence fee and statement
   24.     Extension of time
   24A.    Failure to comply with section 23.
   24B.    If details given in application or annual statement change
   24C.    No application for 2 years after refusal
   24D.    Lost licence
   25.     Inquiries into estate agents
           26, 27. Repealed
   28.     Inquiries into agents' representatives
   28A.    Determination of Tribunal on inquiry
   29.     Cancellation of licences in other cases
   29A.    Suspended and cancelled licences must be returned
   29B.    Duties of agents and officers in effective control
   29C.    Offence to procure contravention of section 29B.
   30.     Management of estate agency office
   30AA.   Repealed
   30AB.   Rural branch manager's licence
   30A.    Absence of estate agent or branch manager
   31.     Effect of disqualification
   31A.    Person involved in Fund claim may regain licence etc. in exceptional circumstances
   31B.    Bankrupt person may be allowed limited right to hold
           licence etc.
   31C.    Person with criminal record may be allowed limited right to
           hold licence etc.
   31CA.   Corporation may be allowed to hold licence despite disqualifying factors
   31D.    Authority may impose conditions
   31E.    Disability etc. of licensed estate agent
   32.     Application for review
   33.     The Register
           34, 34A. Repealed
   35.     Registered office and address
   36.     Name of estate agency business
   37.     Repealed

   PART IV-AGENTS AND AGENTS' REPRESENTATIVES

   38.     Unlicensed person pretending to be licensed as agent
   39.     As to displaying notice on places of business
   40.     Letterhead
   41.     Production of licence by agent
   42.     Advertising
   43.     Franchising agreements
   44.     Persons not to be employed by agents
   45.     Continuing professional development
   45A.    Requirement may be disallowed
   45B.    Further publication of requirement
   46.     Employees statements
   47.     Authorization of agents' representatives
   47A.    Seller must be given estimated selling price
   47B.    False representation to seller or prospective seller
   47C.    False representation to prospective buyer
   47D.    Director may require information concerning estimates
   48.     Notice of commission sharing must be given
   48A.    Agent must not retain any rebate
   48B.    Rebates must be factored into costs of expenses
   48C.    Treatment of non-monetary rebates
   48D.    Repeated breaches within 12 months
   48E.    Right of recovery of rebates
   49.     Repealed
   49A.    Offence not to give certain information about commission
   50.     Commission
   51.     Statement concerning finance only to be given if finance promised
   52.     Statement to be given on sale of small business
   53.     Copy of contract etc. to be delivered to person signing
   53A.    Exemption concerning the Legal Profession Act 2004.
   54.     Default time limit on sole agency agreements
   55.     Restriction on agent purchasing property
   56.     Certain commissions illegal
   56A.    Power of Director to investigate disputes
   56B.    Powers of Tribunal in relation to disputes

   PART V-BUILDERS AND SUBDIVIDERS OF LAND

   57.     Representation etc. by builders and subdividers of land

   PART VI-ACCOUNTS, AUDIT AND MONITORING OF ESTATE AGENCY BUSINESS

           Division 1-Accounts and Audit

   58.     Definitions
   58A.    Agents licensed interstate
   59.     Trust money
   59A.    Unidentified trust money
   60.     Secretary's power to enter into arrangements with financial institutions
   60A.    Repealed
   61.     Appointment of authorised institutions to handle trust
           accounts
   62.     Liability of principal for certain acts etc. of agents' representatives
   63.     Duty to keep accounts of trust money received etc.
   63A.    Director's supervisory role in audits
   64.     Annual audit of trust accounts
   64A.    Audit ordered by Director
   64B.    Audit where estate agent's business ceased during financial
           year
   65.     Variation of date of audit
   66.     Qualified auditors
   67.     Non-disclosure by auditors
   68.     Right of persons beneficially interested to obtain information
   69.     Agents having no accounts to audit

           Division 2-Monitoring of estate agency business

   70.     Definitions
   70A.    Production of identity card
   70B.    Accounts and other documents available for inspection and
           audit
   70C.    Estate agent to produce documents and answer questions
   70D.    Third parties to produce documents and answer questions
           relating to estate agent's business
   70E.    Ministers, police and public authorities to produce information
           to inspectors
   70F.    Certain other specified persons or bodies to produce
           information
   70G.    Powers on production of documents
   70H.    Order requiring supply of information and answers to
           questions
   70I.    Entry or search with consent
   70J.    Entry without consent or warrant
   70K.    Search warrants
   70L.    Announcement before entry
   70M.    Details of warrant to be given to occupier
   70N.    Seizure of things not mentioned in the warrant
   70O.    Embargo notice
   70P.    Copies of seized documents
   70Q.    Retention and return of seized documents or things
   70R.    Magistrates' Court may extend 3 month period
   70S.    Requirement to assist inspector during entry
   70T.    Refusal or failure to comply with requirement
   70U.    Protection against self-incrimination
   70V.    Offence to give false or misleading information
   70W.    Application of provisions relating to inspections
   70WA.   Powers of court if requirement to produce information not complied with
   70X.    Service of documents
   70Y.    Confidentiality

   PART VII-VICTORIAN PROPERTY FUND

   71.     Definitions
   72.     Victorian Property Fund
   73.     Moneys constituting Fund
   74.     Repealed
   75.     Payments out of Fund
   76.     Application of excess money in Fund
           77, 78. Repealed
   79.     Application of Fund
   80.     Right to claim in respect of pecuniary loss
   81.     Claims against the Fund
   82.     Repealed
   83.     Power of Secretary to require production of securities
   84.     Subrogation of Secretary to rights etc. of claimant upon
           payment from Fund
   85.     Repealed
   86.     Provision where Fund insufficient to meet payment out of it
   87.     Secretary may enter into contract of insurance or indemnity
           for purposes of Act
   88.     Application of insurance moneys
   89.     Freezing of trust accounts of defaulting agents
   90.     Deficiency in trust account
   91.     Wrongful conversion and false accounts

   PART VIIA-Repealed

           91A-91Y Repealed

   PART VIII-MISCELLANEOUS

   92.     Certificate as evidence
   92A.    Registrar may waive fees
   92B.    Verification of details supplied to the Authority
   92C.    Complaints concerning estate agents etc. are privileged
   93.     Furnishing incorrect particulars
   93A.    Application of Fair Trading Act 1999.
   94.     Offences
   94A.    Profit to be forfeited in case of unlicensed trading etc.
   95.     Prosecutions
   95A.    Power to serve a notice
   95B.    Form of notice
           95C, 95D Repealed
   95E.    Further proceedings concerning infringement notices
   96.     Applications and notices in the case of corporation
   97.     Saving of contracts and civil liability
   97A.    Protection for things done under this Act
   98.     Retention of documents
   98A.    Offence to destroy documents required by the Act
   99.     Regulations
   100.    Repealed

   PART IX-TRANSITIONAL

   101.    Victorian Property Fund
           __________________
           SCHEDULE-Repealed
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           ENDNOTES
           1. General Information
           2. Table of Amendments
           3. Explanatory Details