Real Estate and Business Agents Act 1978 (WA)

Western Australia Real Estate and Business Agents Act 1978 Western Australia Real Estate and Business Agents Act 1978 Contents Part I — Preliminary 1. Short title 2 2. Commencement 2 4. Terms used 2 Part II — Advisory Committee and review 22. Powers of investigation 10 23. Application for review by SAT 10 Division 4 — Advisory committees 23A. Advisory committees, establishing etc. 12 23B. Minister may delegate s. 23A powers 14 Division 5 — Conciliation 23C. Conciliation of disputes about transactions 14 Part III — Licensing of agents 24. Applications for licences 16 26. Real estate agents and business agents must be licensed 16 27. Licensing of individuals 17 28. Firms, licensing of 17 29. Bodies corporate, licensing of 18 30. Licence, effect of 19 31. Licensee's triennial certificate: grant and renewal 19 32. Licensee's triennial certificate: late renewal 20 33. Licensee's triennial certificate: late renewal after 12 months 20 34. Conditions on licences and triennial certificates 21 34AA. Imposing special conditions on licences or triennial certificates 22 34AB. Removing special conditions on licences or triennial certificates 23 34A. Commissioner may grant licence or triennial certificate without notice to applicant 24 34B. SAT may suspend licence in some cases 24 34C. Licensee may surrender licence and triennial certificate 24 34D. Firm or body corporate must surrender licence and triennial certificate in certain circumstances 25 35. Licensee to notify Commissioner when commencing or ceasing business 25 36. Registered office of licensee 25 37. Branch office of licensee 26 38. Triennial certificates, contents of 26 39. Licence and triennial certificate not transferable etc. 27 40A. Duplicate licence, certificate of registration or triennial certificate 27 40B. Licensee to comply with prescribed educational requirements 27 40. Business names, use of by licensees 28 41. Notices to be exhibited at offices; particulars to appear on documents 28 Part IV — Registration of sales representatives 42. Natural persons only may be registered 30 43. Applications for registration 30 44. Real estate sales representatives must be registered etc. 30 45. Business sales representatives must be registered etc. 31 46. Partners and directors of licensees to be registered in certain cases 32 47. Natural persons, grant of certificate of registration to 32 48. Certificates of registration, duration and renewal of 33 49. Certificates of registration, late renewal of 34 50. Conditions on certificates of registration 35 50AA. Imposing special conditions on certificates of registration 35 50AB. Removing special conditions on certificates of registration 36 50A. Unopposed applications 38 50B. SAT may suspend registration in some cases 38 50C. Sales representative to comply with prescribed educational requirements 38 51. Registered sales representatives to notify Commissioner of certain changes 39 52. Certificate of registration not transferable 39 53. Certificate of registration, surrender of 39 54. Sales representatives, employment of 40 55. Sales representative to be in service of one person 40 Part V — General controls 56. Franchising agreements, licensee not to carry on business under without Commissioner's approval 42 57. Developers, principal place of business to be registered and service on 42 58. Developer to notify Commissioner of change in principal place of business 43 59. Developer to keep records of real estate transactions 43 60. Agent not entitled to commission etc. unless licensed and validly appointed 43 61. Maximum remuneration of licensees, fixing of etc. 45 61A. Agents not to demand etc. money etc. for letting etc. from tenants 48 62. Advertising by agents and developers 48 63. Agents etc. to supply signatories of documents with copies 49 64. Conflicts of interest of agents etc. 49 65. Rates etc., agents to ensure payment and apportionment of 50 66. Keys to houses etc. and information about tenancies etc., payment for is an offence 51 Part VI — Agents' trust accounts 67. Terms used 52 68. Use of trust accounts 52 68A. Client may ask agent for separate trust account 54 68B. Interest on trust accounts to be paid by financial institutions 54 68C. Agents to give Commissioner information about trust accounts 55 69. Money received by agents, duties as to 56 70. Audits of trust accounts 57 71. Date of audit, Commissioner may change 58 72. Auditors, qualification and approval of 59 73. Auditors, appointment of 59 74. Audits of business carried on at more than one place, directions as to 60 75. Approvals etc. under this Part, Commissioner's power to cancel etc. 60 77. Audits, agents' duties and auditors' powers as to 61 78. Audits, bankers' duties as to 61 79. Auditors' reports, content of 61 80. Moneys etc. held on trust, statement of by agents 62 81. Auditor's report to report breaches of law etc. 63 82. Auditors' duty of confidentiality 63 83. Right of some persons to information in auditors' reports 64 84. Offences under this Part 64 85. Auditors' remuneration 65 86. Agents with no accounts to audit 65 87. Accounts of firm or body corporate or agent with branch office, effect of audits as to 65 88. Audit of trust account, Commissioner may do 66 90. Cost of audit done under s. 88 66 91. Confidentiality of audit done under s. 88 67 92. Restraining bank etc. from dealing with agent's account, SAT's powers as to 67 93. Suspension of agents, appointment of supervisors etc., SAT's powers as to 68 94. Order under s. 93 for supervisor, effect of 70 95. Supervisors' duties 71 96. Hindering etc. supervisors, offence 72 97. Discharge or variation of s. 92 or 93 order 72 98. SAT's additional powers as to s. 92, 93 and 97 orders; schemes for distributing funds 73 99. Service of s. 92, 93, 97 or 98 orders; penalty for breach of 74 100. Banks etc., duty to disclose certain accounts etc. if required to by authorised person 75 100A. Information about trust accounts, Commissioner's power to obtain 76 Part VII — Discipline of agents and sales representatives 101. Codes of conduct 79 102. Disciplinary action by SAT, alleging cause for 79 103. Disciplinary action, SAT's powers as to 80 104. Offences that cause licence and triennial certificate to be cancelled 83 105. Certain offences by licensees, additional sentencing powers for 84 105A. Cancellation of licence due to insufficient resources or cessation of business 85 106. Persons with cancelled licences etc., offences by and in respect of 85 Part VIII — Fidelity Guarantee Account 107. Account established 87 108. Investment of moneys in account 87 109. Moneys to be credited to account 87 110. Expenditure from account 88 112. Administration of account 89 113. Payments to account by applicants for licences etc. 89 114. Cap on payments under s. 113 89 115. Levies for account against certificate holders 90 116. Purpose of account; making claims against account 91 117. Claims against account; recovery from account 92 118. Defences to claims against account 93 119. Subrogation of rights of claimant against account 93 120. Insufficiency in account 93 121. State may insure against claims 95 122. Application of insurance payouts 95 123. Advertising for claims in relation to defaulting licensee 95 124. Documents etc. to support claims, CEO may require 96 124AA. Commissioner may investigate claims against Fidelity Account 96 Part VIIIA — Education and General Purpose Account 124A. Account established; administration of account 98 124B. Moneys to be credited to account 98 124C. Expenditure from account 99 124D. Investment of moneys in account 100 Part IX — Real Estate and Business Agents Interest Account 125. Account established; administration of account 101 126. Moneys to be credited to account 101 127. Expenditure from account 102 128. Investment of moneys in account 102 Part IXA — Assistance to home buyers 131A. Terms used 103 131B. Home Buyers Assistance Account established 104 131C. Investment of moneys in account 104 131D. Moneys to be credited to account 105 131E. Expenditure from account 105 131G. Administration of account 106 131L. Applying for assistance for buyers of first homes 106 131M. Deciding applications for assistance 107 131N. Assistance, payment and application of 108 131O. Criteria for granting assistance, formulating 109 Part X — Miscellaneous 132. Unlicensed assistants to be supervised etc. 111 133. Registers of licensees etc., Commissioner to keep etc. 112 134A. Offence to give false or misleading information 112 134. Commissioner's certificate 113 135. Annual report by department 114 136. Commissioner to report to Minister on Act's effectiveness as to protecting against defalcations 114 136A. Refunds of fees, Commissioner's powers as to 115 137. Protection from personal liability 115 138. Confidentiality of information officially obtained 115 139. Directors of body corporate, liability of 115 140. Other rights and remedies not affected by this Act 116 141. Rights conferred by Act cannot be waived 116 142. General penalty for offences 116 143. Proceedings for offences 117 144. Forms 117 145. Regulations 117 Part XI — Savings and transitional 148. Terms used 120 149. Former Board abolished 120 150. References to former Board 120 151. Immunity continues 121 152. Notices by former Board 121 153. References to former Registrar 121 154. Unfinished investigations by former Board 122 155. Unfinished proceedings by former Board 122 156. Winding‑up former Board 123 157. Final report by former Board 124 158. Staff of former Board 124 159. Transitional regulations 124 Schedule 1 — Qualifications for grant of licence and related matters 1. Qualifications 126 2. Sufficient practical experience defined 127 3. Licence by reason of qualification under cl. 1(c) 128 4. Licence by reason of qualification under cl. 1(d) 128 5. Dead or incapacitated licensee, conduct of business of 128 6. Death or withdrawal of partner in firm or director of body corporate, Commissioner to be notified 129 Notes Compilation table 130 Other notes 135 Defined terms Western Australia Real Estate and Business Agents Act 1978 An Act to make provision with respect to the regulation and supervision of certain persons acting in respect of real estate transactions or certain business transactions, to repeal the Land Agents Act 1921 1, and for related purposes.