Property and Stock Agents Regulation 2022 (2022-501) (NSW)

Property and Stock Agents Regulation 2022

Part 1 Preliminary

1 Name of Regulation This Regulation is the Property and Stock Agents Regulation 2022.

2 Commencement This Regulation commences on 1 September 2022.

Note— This Regulation replaces the Property and Stock Agents Regulation 2014, which is repealed on 1 September 2022 by the Subordinate Legislation Act 1989, section 10(2).

3 Definitions In this Regulation— affiliate, in relation to an entity (the first entity), means— (a) another entity controlled, within the meaning of the Corporations Act, section 50AA, by the first entity, or (b) if the first entity is a body corporate—an entity that is a related entity of the first entity. Bidders Record, for Part 3—see section 13. buyer's agent means— (a) a real estate agent acting for a buyer, or a prospective buyer, of land, and (b) an assistant real estate agent acting, to the extent permitted under the Act and this Regulation, for a buyer, or a prospective buyer, of land. commercial property agency work means selling, purchasing, exchanging, leasing, managing or otherwise dealing with property other than residential property or rural land. entity has the same meaning as in the Corporations Act, section 9. fee unit—see Schedule 14, Part 2. licensee in charge—means the holder of a class 1 licence employed under the Act, section 31 to be in charge of a business. property, for Part 3—see section 13. related entity has the same meaning as in the Corporations Act, section 9. residential tenancy agreement has the same meaning as in the Residential Tenancies Act 2010. the Act means the Property and Stock Agents Act 2002. transitional assistant stock and station agent certificate means a certificate of registration to which the Act, Schedule 1, clause 37(3) applies. trust money has the same meaning as in the Act, Part 7. vendor bid, for Part 3—see section 13.