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REAL ESTATE AND BUSINESS AGENTS ACT 1978

Table of Provisions

PART I -- Preliminary  

  • 1 Short title
  •  
  • 2 Commencement
  •  
  • 4 Terms used

PART II -- Advisory Committee and review  

  • 22 Powers of investigation
  •  
  • 23 Application for review by SAT

Division 4 -- Advisory committees  

  • 23A Advisory committees, establishing etc.
  •  
  • 23B Minister may delegate s. 23A powers

Division 5 -- Conciliation  

  • 23C Conciliation of disputes about transactions

PART III -- Licensing of agents  

  • 24 Applications for licences
  •  
  • 26 Real estate agents and business agents must be licensed
  •  
  • 27 Licensing of individuals
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  • 28 Firms, licensing of
  •  
  • 29 Bodies corporate, licensing of
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  • 30 Licence, effect of
  •  
  • 31 Licensee’s triennial certificate: grant and renewal
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  • 32 Licensee’s triennial certificate: late renewal
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  • 33 Licensee’s triennial certificate: late renewal after 12 months
  •  
  • 34 Conditions on licences and triennial certificates
  •  
  • 34AA Imposing special conditions on licences or triennial certificates
  •  
  • 34AB Removing special conditions on licences or triennial certificates
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  • 34A Commissioner may grant licence or triennial certificate without notice to applicant
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  • 34B SAT may suspend licence in some cases
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  • 34C Licensee may surrender licence and triennial certificate
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  • 34D Firm or body corporate must surrender licence and triennial certificate in certain circumstances
  •  
  • 35 Licensee to notify Commissioner when commencing or ceasing business
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  • 36 Registered office of licensee
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  • 37 Branch office of licensee
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  • 38 Triennial certificates, contents of
  •  
  • 39 Licence and triennial certificate not transferable etc.
  •  
  • 40A Duplicate licence, certificate of registration or triennial certificate
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  • 40B Licensee to comply with prescribed educational requirements
  •  
  • 40 Business names, use of by licensees
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  • 41 Notices to be exhibited at offices; particulars to appear on documents

PART IV -- Registration of sales representatives  

  • 42 Natural persons only may be registered
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  • 43 Applications for registration
  •  
  • 44 Real estate sales representatives must be registered etc.
  •  
  • 45 Business sales representatives must be registered etc.
  •  
  • 46 Partners and directors of licensees to be registered in certain cases
  •  
  • 47 Natural persons, grant of certificate of registration to
  •  
  • 48 Certificates of registration, duration and renewal of
  •  
  • 49 Certificates of registration, late renewal of
  •  
  • 50 Conditions on certificates of registration
  •  
  • 50AA Imposing special conditions on certificates of registration
  •  
  • 50AB Removing special conditions on certificates of registration
  •  
  • 50A Unopposed applications
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  • 50B SAT may suspend registration in some cases
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  • 50C Sales representative to comply with prescribed educational requirements
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  • 51 Registered sales representatives to notify Commissioner of certain changes
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  • 52 Certificate of registration not transferable
  •  
  • 53 Certificate of registration, surrender of
  •  
  • 54 Sales representatives, employment of
  •  
  • 55 Sales representative to be in service of one person

PART V -- General controls  

  • 56 Franchising agreements, licensee not to carry on business under without Commissioner’s approval
  •  
  • 57 Developers, principal place of business to be registered and service on
  •  
  • 58 Developer to notify Commissioner of change in principal place of business
  •  
  • 59 Developer to keep records of real estate transactions
  •  
  • 60 Agent not entitled to commission etc. unless licensed and validly appointed
  •  
  • 61 Maximum remuneration of licensees, fixing of etc.
  •  
  • 61A Agents not to demand etc. money etc. for letting etc. from tenants
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  • 62 Advertising by agents and developers
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  • 63 Agents etc. to supply signatories of documents with copies
  •  
  • 64 Conflicts of interest of agents etc.
  •  
  • 65 Rates etc., agents to ensure payment and apportionment of
  •  
  • 66 Keys to houses etc. and information about tenancies etc., payment for is an offence

PART VI -- Agents’ trust accounts  

  • 67 Terms used
  •  
  • 68 Use of trust accounts
  •  
  • 68A Client may ask agent for separate trust account
  •  
  • 68B Interest on trust accounts to be paid by financial institutions
  •  
  • 68C Agents to give Commissioner information about trust accounts
  •  
  • 69 Money received by agents, duties as to
  •  
  • 70 Audits of trust accounts
  •  
  • 71 Date of audit, Commissioner may change
  •  
  • 72 Auditors, qualification and approval of
  •  
  • 73 Auditors, appointment of
  •  
  • 74 Audits of business carried on at more than one place, directions as to
  •  
  • 75 Approvals etc. under this Part, Commissioner’s power to cancel etc.
  •  
  • 77 Audits, agents’ duties and auditors’ powers as to
  •  
  • 78 Audits, bankers’ duties as to
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  • 79 Auditors’ reports, content of
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  • 80 Moneys etc. held on trust, statement of by agents
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  • 81 Auditor’s report to report breaches of law etc.
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  • 82 Auditors’ duty of confidentiality
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  • 83 Right of some persons to information in auditors’ reports
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  • 84 Offences under this Part
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  • 85 Auditors’ remuneration
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  • 86 Agents with no accounts to audit
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  • 87 Accounts of firm or body corporate or agent with branch office, effect of audits as to
  •  
  • 88 Audit of trust account, Commissioner may do
  •  
  • 90 Cost of audit done under s.
  •  
  • 91 Confidentiality of audit done under s.
  •  
  • 92 Restraining bank etc. from dealing with agent’s account, SAT’s powers as to
  •  
  • 93 Suspension of agents, appointment of supervisors etc., SAT’s powers as to
  •  
  • 94 Order under s. 93 for supervisor, effect of
  •  
  • 95 Supervisors’ duties
  •  
  • 96 Hindering etc. supervisors, offence
  •  
  • 97 Discharge or variation of s. 92 or 93 order
  •  
  • 98 SAT’s additional powers as to s. 92, 93 and 97 orders; schemes for distributing funds
  •  
  • 99 Service of s. 92, 93, 97 or 98 orders; penalty for breach of
  •  
  • 100 Banks etc., duty to disclose certain accounts etc. if required to by authorised person
  •  
  • 100A Information about trust accounts, Commissioner’s power to obtain

PART VII -- Discipline of agents and sales representatives  

  • 101 Codes of conduct
  •  
  • 102 Disciplinary action by SAT, alleging cause for
  •  
  • 103 Disciplinary action, SAT’s powers as to
  •  
  • 104 Offences that cause licence and triennial certificate to be cancelled
  •  
  • 105 Certain offences by licensees, additional sentencing powers for
  •  
  • 105A Cancellation of licence due to insufficient resources or cessation of business
  •  
  • 106 Persons with cancelled licences etc., offences by and in respect of

PART VIII -- Fidelity Guarantee Account  

  • 107 Account established
  •  
  • 108 Investment of moneys in account
  •  
  • 109 Moneys to be credited to account
  •  
  • 110 Expenditure from account
  •  
  • 112 Administration of account
  •  
  • 113 Payments to account by applicants for licences etc.
  •  
  • 114 Cap on payments under s.
  •  
  • 115 Levies for account against certificate holders
  •  
  • 116 Purpose of account; making claims against account
  •  
  • 117 Claims against account; recovery from account
  •  
  • 118 Defences to claims against account
  •  
  • 119 Subrogation of rights of claimant against account
  •  
  • 120 Insufficiency in account
  •  
  • 121 State may insure against claims
  •  
  • 122 Application of insurance payouts
  •  
  • 123 Advertising for claims in relation to defaulting licensee
  •  
  • 124 Documents etc. to support claims, CEO may require
  •  
  • 124AA Commissioner may investigate claims against Fidelity Account

PART VIIIA -- Education and General Purpose Account  

  • 124A Account established; administration of account
  •  
  • 124B Moneys to be credited to account
  •  
  • 124C Expenditure from account
  •  
  • 124D Investment of moneys in account

PART IX -- Real Estate and Business Agents Interest Account  

  • 125 Account established; administration of account
  •  
  • 126 Moneys to be credited to account
  •  
  • 127 Expenditure from account
  •  
  • 128 Investment of moneys in account

PART IXA -- Assistance to home buyers  

  • 131A Terms used
  •  
  • 131B Home Buyers Assistance Account established
  •  
  • 131C Investment of moneys in account
  •  
  • 131D Moneys to be credited to account
  •  
  • 131E Expenditure from account
  •  
  • 131G Administration of account
  •  
  • 131L Applying for assistance for buyers of first homes
  •  
  • 131M Deciding applications for assistance
  •  
  • 131N Assistance, payment and application of
  •  
  • 131O Criteria for granting assistance, formulating

PART X -- Miscellaneous  

  • 132 Unlicensed assistants to be supervised etc.
  •  
  • 133 Registers of licensees etc., Commissioner to keep etc.
  •  
  • 134A Offence to give false or misleading information
  •  
  • 134 Commissioner’s certificate
  •  
  • 135 Annual report by department
  •  
  • 136 Commissioner to report to Minister on Act’s effectiveness as to protecting against defalcations
  •  
  • 136A Refunds of fees, Commissioner’s powers as to
  •  
  • 137 Protection from personal liability
  •  
  • 138 Confidentiality of information officially obtained
  •  
  • 139 Directors of body corporate, liability of
  •  
  • 140 Other rights and remedies not affected by this Act
  •  
  • 141 Rights conferred by Act cannot be waived
  •  
  • 142 General penalty for offences
  •  
  • 143 Proceedings for offences
  •  
  • 144 Forms
  •  
  • 145 Regulations

PART XI -- Savings and transitional  

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