Property, Stock and Business Agents Act 1941 Regulation relating to licence fees payable by on-site residential property managers (1995-116) [GG No 28 of 10.3.1995] (NSW)

1995—No. 116

PROPERTY, STOCK AND BUSINESS AGENTS ACT 1941—

REGULATION

(Relating to licence fees payable by on-site residential property managers)

NEW SOUTH WALES

[Published in Gazette No. 28 of 10 March 1995]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Property, Stock and Business Agents Act 1941, has been pleased to make the Regulation set forth hereunder.

ROBERT WEBSTER, M.L.C.,

Minister for Housing.

Commencement

1. This Regulation commences on 31 March 1995.

Amendments

2. The Property, Stock and Business Agents (General) Regulation

1993 is amended:

(a) by omitting from the Table to clause 42 the matter relating to section 23 (2) (d) and by inserting instead the following matter:

Section 23 (2) (d):

In the case of an application for an on-site residential property manager’s licence:

$45 (application fee)

$135 (administration fee)

$45 (contribution)

In any other case:

$135 (application fee)
$405 (administration fee)
$135 (contribution)

1995—No. 116

(b) by inserting before the Table to clause 42 the following subclause:
(2) For the purposes of section 23 (2A) of the Act, the

prescribed application fee, administration fee and contribution fee

for:

(a)	the issue or renewal of 2 or more licences (one of which is an on-site residential manager’s licence) that expire at the same time; or
(b)	the issue of a further licence to a licensee who already holds an on-site residential property manager’s licence that expires at the same time as the further licence,

is the application fee, administration fee and contribution fee for one of the licences other than the on-site residential property manager’s licence.

(c) by inserting after clause 42 the following clause:

Refund of certain fees

42A.(1) This clause applies to any on-site residential property
manager’s licence in force immediately before 31 March 1995.

(2) The holder of a licence to which this clause applies must be given a refund by the Council of the difference between the amount paid for the licence and the amount specified for the

licence in clause 42 (1) as at 31 March 1995.

EXPLANATORY NOTE

Under the Property, Stock and Business Agents Act 1941 real estate agents, stock and station agents, business agents, strata managing agents, community managing agents and on-site residential property managers must hold a licence to carry on business. Section 23 (1) (b) of the Act requires an application for a licence to be accompanied by an application fee, an administration fee and a contribution. Currently, these licence fees are the same for all licences.

The object of this Regulation is to provide for lower licence fees to be payable by on- site residential property managers than those payable by other agents required to hold licences.

The Regulation also provides:

• that if a person applies for an on-site residential property manager’s licence and

another or other licences under the Act, the higher licence fees apply; and

1995—No. 116

•	that any person holding a current on-site residential property manager’s licence who paid the general licence fees that applied before the commencement of this Regulation is entitled to a refund of the difference between that amount and the new lower licence fees.
This Regulation is made under the Property, Stock and Business Agents Act 1941,

including sections 23 (2) and 92 (the general regulation-making power).