Tasmanian Numbered Acts Tasmanian Numbered Acts
- Act 58 of 2016
- Royal Assent 21 December 2016
TABLE OF PROVISIONS
Long Title
PART 1 - Preliminary
1. Short title
2. Commencement
3. Interpretation
4. Application of Act
PART 2 - Property Agents Board Division 1 - The Board
5. Property Agents Board continued
6. Functions of Board
7. Powers of Board
8. Delegation by Board
9. Contracts
10. Committees of Board
11. Employees of Board
Division 2 - Finances and reports
12. Funds of Board
13. Accounts and audit
14. Annual report
PART 3 - Licensing of Property Agents Division 1 - Types of
property agent licence
15. Types of licences
Division 2 - Application for licence
16. Application for licence
17. Consideration of application
18. Suitability of applicant
19. Determination of licence application
20. Conditions of licence
21. Period of validity of licence
22. Renewal of licence
23. Surrender of licence
24. Record of suspended licences
Division 3 - Qualifications
25. Qualifications for real estate agent licence
26. Qualifications for property manager licence
27. Qualifications for general auctioneer licence
28. Qualifications for property representative licence
PART 4 - Register
29. Board to maintain Register
30. Part 1 of Register
31. Part 2 of Register
32. Part 3 of Register
33. Part 4 of the Register
PART 5 - Real Estate Agents and Property Managers Division 1 -
Conduct of real estate agency business and property management
business
34. Real estate agency business to be carried on by real estate agent
35. Property management business to be carried on by property manager
36. Management of real estate agency business
37. Management of property management business
38. Employment of property representatives
39. Limitations on employees of real estate agents
40. Limitations on employees of property managers
41. Limitation on employment of certain people by real estate agents
42. Limitation on employment of certain people by property managers
43. Property representatives
Division 2 - Remuneration of real estate agents and property
managers
44. Appointment of real estate agents to be in writing
45. Entitlement to commission after written appointment expires
46. Appointment of property managers to be in writing
47. Property agent to disclose any benefits
48. Fees not recoverable in certain circumstances
Division 3 - Offences in respect of property agents
49. Conflict of interest – acquisition of property
50. Conflict of interest – sale of property
51. Franchising agreements
52. Notice to be displayed by real estate agents
53. Notice to be displayed by property managers
54. Requirements of advertisements by real estate agents
55. Requirements of advertisements by property managers
56. False or misleading advertising, &c., by property agents
57. Name under which real estate agents may carry on business
58. Name under which property managers may carry on business
PART 6 - Auctions Division 1 - Conduct of auctions
59. Auctioneering to be carried on by general auctioneer or real estate
agent
60. Management of general auctioneering business
61. Limitation on employment of certain people by general auctioneers
62. Name under which general auctioneer may carry on business
63. Notice to be displayed
64. Requirements of advertisements by general auctioneers
65. False advertising, &c., by general auctioneers
Division 2 - Conduct at public auctions
66. Misrepresentations at public auctions
67. Bids by owner at public auction
68. Permissible owner bids
69. Dummy bids
70. Offence to falsely acknowledge bid
71. Conditions of public auctions to be made available before auction
starts
72. Last vendor bid to be identified if property passed in
73. Right to compensation if Part breached
74. Contrary conditions are void
Division 3 - Conduct of public auctions and private auctions
75. Interpretation of Division 3
76. Certain bidding agreements unlawful
77. Collusive practices prohibited at auctions
78. Successful bidder to supply information to auctioneer
79. Certain notices to be given at auction
Division 4 - Remuneration of general auctioneers
80. Appointment of general auctioneer to be in writing
81. General auctioneer to disclose any benefits
82. Fees not recoverable in certain circumstances
PART 7 - Complaints and Discipline Division 1 - Preliminary
83. Interpretation of Part 7
Division 2 - Code of Conduct
84. Code of Conduct to be developed by Board
85. Application of Code of Conduct
Division 3 - Complaints about conduct of property agents
86. Complaints about conduct of property agents
87. Making of complaints
88. Time limits for complaints
89. Further information and verification
90. Property agent to be notified of complaint
91. Submission by property agent
92. Summary dismissal of complaints
93. Withdrawal of complaints
Division 4 - Investigations of conduct complaints
94. Complaints to be investigated
95. Investigation on Board's initiative
96. Appointment of investigator
97. Powers of investigation
98. Board may obtain search warrant to enter and search premises
99. Interim order for suspension of licence
100. Powers of Board after investigation
101. Procedure for minor misconduct
102. Procedure if offence suspected
Division 5 - Establishment of Tribunal
103. Application
104. Establishment of Tribunal
105. Delegation by President
106. Responsibilities of Tribunal and Board
107. Powers of Tribunal
108. Requirements of summons to property agent
109. Procedures at hearing by Tribunal
Division 6 - Action following hearing
110. Determination by Tribunal
111. Costs and expenses of hearings
112. Notice of action
113. Indemnity
Division 7 - Suspension of licence
114. Power of Board to suspend licence
115. Revocation of suspension
Division 8 - Appeals
116. Right to appeal decisions of Board
117. Review of decisions of Tribunal
PART 8 - Control of Property Agents Carrying on Businesses Division
1 - Protection of trust money, and appointment of receivers and
managers
118. Protection of trust money
119. Appointment of receiver or manager
120. Duty of receiver
121. Receiver may require delivery of trust money and supply of
information
122. Dealings with trust account
123. Power to take proceedings to recover trust money
124. Magistrate may give directions, &c., to receiver
125. Powers of manager
126. Obligations of manager
127. Magistrate may give directions, &c., to manager
128. Remuneration of receivers and managers
129. Receiver and manager to report to Board
130. Termination, &c., of appointment of receiver or manager
Division 2 - Professional indemnity insurance
131. Certain property agents to have professional indemnity insurance
132. Suspension of licence when professional indemnity insurance not in
force
PART 9 - Trust Money, Trust Accounts and Records
133. Trust money
134. Trust account
135. Trust money to be paid into trust account
136. Deficiency in trust account
137. Reporting certain irregularities and suspected irregularities
138. Accounts regulations
139. Records of transactions
140. Inspection of records of authorised deposit-taking institutions,
&c.
PART 10 - Property Agents Trust and Guarantee Fund Division 1 -
Property Agents Trust
141. Property Agents Trust
142. Functions of Trust
143. Powers of Trust
144. Administrative accounts of Trust
145. Accounts and reports
146. Protection of Trust members
Division 2 - Schemes of arrangement
147. Board may enter into schemes of arrangement
148. Trust accounts to be kept only with approved institutions
Division 3 - Property Agents Guarantee Fund
149. Property Agents Guarantee Fund
150. Use of surplus money in Guarantee Fund
151. Administration of Guarantee Fund
Division 4 - Claims against Guarantee Fund
152. Right to claim compensation
153. Board may invite claims
154. Manner and time for making application for compensation
155. Applicant for compensation to provide details of claim
156. Board may seek further particulars
157. Board to consider application
158. Recovery of claims under professional indemnity insurance
159. Trust to determine compensation payable
160. Notice of determination
161. Reviews
162. Payment of compensation
163. Subrogation
164. Certain property agents may not claim
PART 11 - Miscellaneous
165. Obstruction
166. Liability of directors, &c.
167. Infringement notices
168. Service of documents
169. Confidentiality
170. Regulations
171. Administration of Act
172. Savings and transitional provisions
173. Consequential amendments of regulations, &c., do not prevent their
subsequent amendment
174. Consequential amendments
175. Legislation repealed
SCHEDULE 1
SCHEDULE 2
SCHEDULE 3
SCHEDULE 4
SCHEDULE 5
[ Note: This table has been automatically generated and may be incomplete. ]