Property, Stock and Business Agents Amendment (Underquoting Prohibition) Regulation 2015 (NSW)
New South Wales
Property, Stock and Business Agents
Amendment (Underquoting Prohibition)
Regulation 2015
under the
Property, Stock and Business Agents Act 2002
His Excellency the Governor, with the advice of the Executive Council, has made the following
Regulation under the Property, Stock and Business Agents Act 2002.
VICTOR DOMINELLO, MP
Minister for Innovation and Better Regulation
Explanatory note
The object of this Regulation is to amend the Property, Stock and Business Agents Regulation 2014:
| (a) | to remove a redundant provision and redundant references to certain offences as penalty notice offences, and |
| (b) | to prescribe certain new offences under the Property, Stock and Business Agents Act 2002 (relating to estimates of selling prices for residential properties, and underquoting, by real estate agents) to be penalty notice offences. |
This Regulation is made under the Property, Stock and Business Agents Act 2002, including sections 216 and 230 (the general regulation making power).
Property, Stock and Business Agents Amendment (Underquoting Prohibition) Regulation 2015 [NSW]
Property, Stock and Business Agents Amendment
(Underquoting Prohibition) Regulation 2015
under the
Property, Stock and Business Agents Act 2002
1 Name of Regulation
This Regulation is the Property, Stock and Business Agents Amendment
(Underquoting Prohibition) Regulation 2015.
2 Commencement
This Regulation commences on 1 January 2016 and is required to be published on the
NSW legislation website.
3 Amendment of Property, Stock and Business Agents Regulation 2014
(1) Schedule 8 Terms specific to agency agreement for sale of residential property Omit clause 5.
(2) Schedule 15 Penalty notice offences Omit the matter relating to sections 72 and 73 (1). Insert instead in Columns 1 and 2, respectively:
Section 72A (6) $2,200 Section 73 (1) $2,200 Section 73 (2) $2,200 Section 73 (3) $2,200 Section 73A (1) $2,200 Section 73B (1) $2,200
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