Victorian Consolidated Legislation

Estate Agents Act 1980 - SECT 80

Right to claim in respect of pecuniary loss

80. Right to claim in respect of pecuniary loss



(1) Subject to this Part, every person who suffers pecuniary loss as referred
to in section 79 is entitled to claim compensation from the Fund.



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(3) Subject to this Part the amount that a claimant is entitled to claim as
compensation from the Fund is the amount of the actual pecuniary loss suffered
by him (including the reasonable costs of and disbursements incidental to the
making and proof of his claim) less the amount or value of all moneys or other
benefits received or receivable by him from a source other than the Fund in
reduction of the loss.

(4) In addition to any compensation that is payable under this Part, interest
is payable out of the Fund on the amount of the compensation, less any amount
attributable to costs and disbursements, at the rate of five per cent per
annum calculated from and including the day on which the pecuniary loss was
suffered until the day on which the claim is satisfied.

(5) In addition to any compensation payable pursuant to the provisions of this
section there shall be payable out of the Fund to any claimant entitled to
compensation the reasonable costs of and disbursements incidental to the
making and proof of his claim.

(6) For the purposes of this Part an executor, administrator or trustee (other
than a trustee company within the meaning of the Trustee Companies Act 1984)
of the estate of a deceased estate agent carrying on the business of that
estate agent pursuant to this Act shall be deemed to be an estate agent
holding a current estate agent's licence.