Agents Amendment Regulation 2006 (No 2) (ACT)

Agents Amendment Regulation 2006 (No 2)

Subordinate Law SL2006-24

The Australian Capital Territory Executive makes the following regulation under the Agents Act 2003.

Dated 31 May 2006.

Simon Corbell

Minister

John Hargreaves

Minister

Agents Amendment Regulation 2006 (No 2)

Subordinate Law SL2006-24

made under the

Agents Act 2003

1. Name of regulation

   This regulation is the Agents Amendment Regulation 2006 (No 2).

2. Commencement

   This regulation commences on 2 June 2006.

   NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).

3. Legislation amended

   This regulation amends the Agents Regulation 2003.

4. Section 8A (3) and (4)

   omit

5. New section 8B

   insert

8BEligibility for registration—certain unqualified real estate salespeople—Act, s 49 (2)

(1)This section applies to an unqualified real estate salesperson if—

(a)the person is employed by a licensed real estate agent to provide commercial real estate agent services to a single customer; and

(b)the employer carries on business as a real estate agent only for the customer; and

(c)both the employer and the customer are corporations; and

(d)the employer is, under the Corporations Act—

(i)a subsidiary of the customer; or

(ii)related to the customer; or

(iii)an entity associated with the customer.

(2)The commissioner for fair trading may register the person as a real estate salesperson on condition that the registration ends if any of the circumstances mentioned in subsection (1) change.

(3)This section does not apply to a person to whom section 8A applies.

(4)In this section:

commercial real estate agent service means a real estate agent service that does not relate to residential property.

residential property—see the Civil Law (Sale of Residential Property) Act 2003, section 8.

1. Schedule 8, section 8.42 (1)

   omit

   owner or residential property

   substitute

   owner of residential property

Endnotes

1. Notification

   Notified under the Legislation Act on 1 June 2006.

2. Republications of amended laws

   For the latest republication of amended laws, see align="center">© Australian Capital Territory 2006