Real Estate Agents Act 1976

1: Short Title and commencement
1: This Act may be cited as the Real Estate Agents Act 1976.
2: This Act shall come into force on the 1st day of April 1977.
2: Interpretation
1: In this Act, unless the context otherwise requires,— Board section 4 Branch manager section 54(2) Branch manager: this definition was inserted 1 December 1989 Real Estate Agents Amendment Act 1989 Certificate of approval Council Court High Court Court: the Administrative Division of the High Court was abolished, as from 15 August 1991 3 Judicature Amendment Act 1991 The words High Court Supreme Court 12 Judicature Amendment Act 1979 Crime involving dishonesty sections 101 to 105 sections 108 to 117 sections 217 to 266 Crimes Act 1961 Crime involving dishonesty: this definition was amended, as from 1 October 2003 34 Crimes Amendment Act 2003 by substituting the words sections 217 to 266 sections 217 to 292 Disciplinary Committee section 70 the Disciplinary Committee Disciplinary Committee: this definition was substituted 10 December 1982 Real Estate Agents Amendment Act 1982 Effective control Farm land Fidelity Guarantee Fund Fund section 71 Institute Land Licence licensee licensed Minister Officer Permit Prescribed Prescribed form Qualified person Qualified person: this definition was repealed 1 December 1989 Real Estate Agents Amendment Act 1989 Register section 36 Registrar section 35 Salesperson
a: Includes an officer of a licensee company who is not eligible to apply for or obtain a licence in his or her own right; but
b: Does not include a licensee, or an employee of a licensee whose work is primarily and predominantly clerical: Salesman: this definition was substituted 23 March 1992 3(1) Real Estate Agents Amendment Act 1992 Stock and station agent Unqualified person Unqualified person: this definition was repealed 1 December 1989 Real Estate Agents Amendment Act 1989 Year
2: In this Act, unless the context otherwise requires, every reference to a real estate agent which by its context relates to an individual shall, with the necessary modifications, apply with respect to a company carrying on business as a real estate agent. 1963 No 135 s 2 1968 No 25 s 2
3: Meaning of
real estate agent
1: For the purposes of this Act, every person shall be deemed to be a real estate agent who acts, or who holds himself or herself
2: Notwithstanding subsection (1)
a:
b: He or she
c: He or she or her section 34
d: Being the Landcorp Farming Limited State-Owned Enterprises Act 1986
e: On or before the 31st day of March 1989, being Government Property Services Limited or any subsidiary thereof or in either case an employee thereof, he, she or it acts for reward as agent for the Crown or any State enterprise within the meaning of the State-Owned Enterprises Act 1986
f: On or before the 31st day of March 1990, being Works and Development Services Corporation (NZ) Limited or any subsidiary thereof or in either case an employee thereof, he, she, or it acts for reward as agent for the Crown or a State enterprise within the meaning of the State-Owned Enterprises Act 1986
i: The sale or other disposal of land or of businesses (either with or without any interest in land); or
ii: The purchase or other acquisition of land or of businesses (either with or without any interest in land); or
iii: The leasing or letting of land; or
iv: The collection or receipt of rent money.
3: Where 2 or more persons carry on business jointly as real estate agents, each of those persons shall be deemed to be a real estate agent.
4: For the purposes of this section, the collection or receipt of rent money by—
a: A real estate agent or any person employed by that real estate agent; or
b: A director, officer, or employee of a company that is a real estate agent; or
c: A company in which a real estate agent holds, directly or indirectly, a majority of the shares or control of the voting power— shall be deemed to be the carrying on of business as a real estate agent.
5: Subsection (4) on the person's
6: Notwithstanding anything to the contrary in this Act, any salaried employee of a stock and station agent licensee who is primarily and predominantly employed in stock and station agency work and who also, in the course of that employment, engages in work relating to the business of a real estate agent but only to the extent of effecting introductions to persons interested in selling or purchasing or otherwise disposing of or acquiring or leasing or letting farm land, shall—
a: Be deemed not to be a real estate agent or salesman; and
b: Be deemed not to be carrying on the business of a real estate agent.
7: Despite anything to the contrary in this Act, any person who is—
a: a lawyer within the meaning of the Lawyers and Conveyancers Act 2006
b: a conveyancing practitioner within the meaning of the Lawyers and Conveyancers Act 2006 may undertake the work of a real estate agent but, in respect of the sale or other disposal of any land or business, is not entitled to be remunerated for that work by commission in addition to, or instead of, the professional charges of that lawyer or conveyancing practitioner.
8: When any person to whom subsection (7) applies is undertaking the work of a real estate agent, that person—
a: is deemed not to be doing so as a real estate agent; and
b: is not subject to any of the provisions of this Act; but
c: is deemed to be acting in his or her capacity—
i: as a lawyer within the meaning of the Lawyers and Conveyancers Act 2006
ii: as a person acting under the supervision of a lawyer within the meaning of the Lawyers and Conveyancers Act 2006
iii: as a conveyancing practitioner within the meaning of the Lawyers and Conveyancers Act 2006
iv: as a person acting under the supervision of a conveyancing practitioner within the meaning of the Lawyers and Conveyancers Act 2006
d: is subject accordingly to the provisions of the Lawyers and Conveyancers Act 2006 1963 No 135 s 3 1968 No 25 s 3 Section 3(2)(a) repealed 1 August 2008 section 340(1) Lawyers and Conveyancers Act 2006 Subsection (2)(d) inserted 1 April 1987 32(1) State-Owned Enterprises Act 1986 Subsection (2)(d) amended 12 April 2001 4 State-Owned Enterprises (Landcorp Farming Limited) Order 2001 by substituting the words Landcorp Farming Limited Land Corporation Limited Subsection (2)(e) inserted 1 April 1987 State-Owned Enterprises Amendment Act 1987 See section 14(1) Finance Act (No 2) 1988 Subsection (2)(f) inserted 1 April 1988 State-Owned Enterprises Amendment Act 1988 Subsection (5) amended 23 March 1992 3(6) Real Estate Agents Amendment Act 1992 by substituting the words on the person's or company on his or its See section 3(2) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or herself himself 3(1) insertion of or she He he 3(2) insertion of or her his 3(2)(a) insertion of or her him 3(2)(c) Section 3(7) added 1 August 2008 section 340(2) Lawyers and Conveyancers Act 2006 Section 3(8) added 1 August 2008 section 340(2) Lawyers and Conveyancers Act 2006
1: Real Estate Agents Licensing Board
4: Real Estate Agents Licensing Board constituted
1: There is hereby constituted the Real Estate Agents Licensing Board.
2: The Board shall consist of—
a: A barrister or solicitor of the High Court Chairperson
b: Two persons appointed by the Minister on the recommendation of the Council:
c: Two persons appointed by the Minister, of whom only one shall be a real estate agent who is licensed or eligible to hold a licence.
3: Subject to this section, each member of the Board shall hold office for a term of 3 years, and may from time to time be reappointed.
4: No member of the Board shall, during his or her
5: Any member of the Board may resign his or her
6: Any member of the Board may be removed from office at any time by the Minister for inability to perform the functions of the office
7: If any member of the Board dies, resigns, or is removed from office, the vacancy shall be filled in the same manner as the appointment of the vacating member. Every person so appointed shall hold office for the residue of the term for which his or her
8: Notwithstanding subsection (3) or she or her or her
9: The powers of the Board shall not be affected by any vacancy in its membership. See section 3(3) (4) (7) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of Chairperson Chairman 4(2)(a) insertion of or her His his 4(4), (5), (7) and (8) insertion of or she He he 4(8) The words High Court substituted 1 April 1980 Supreme Court 12 Judicature Amendment Act 1979 Subsection (6) amended 1 January 2002 70(1) Human Rights Amendment Act 2001 by substituting the words inability to perform the functions of the office disability
5: Deputies of members
1: The Minister may, from time to time and at any time, appoint such persons as he or she thinks fit to be deputies to act for members of the Board in any case where—
a: A member of the Board is incapacitated by illness, absence, or other sufficient cause from performing the duties of his or her
b: The member is unable to perform those duties for any other reason and the Board resolves that a deputy shall act for him or her
1A: The Minister shall not appoint any person as a deputy who would not be qualified in his or her or she
1B: Notwithstanding that the member of the Board for whom he or she is deputising is again available to perform the duties of office, the deputy of that member shall continue to act as such until the determination of any matter which the deputy has heard or part heard and which has not been determined.
2: Any deputy appointed under this section shall, while he or she Chairperson Chairperson
3: No appointment of a deputy and no acts done by him or her or her or her Subsection (1) substituted (1A) (1B) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 See section 3(3) (5) (7) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 5(1A) and (2) insertion of or her His his 5(1), (1A) and (3) insertion of or her him 5(3) substitution of Chairperson Chairman 5(2)
6: Meetings of Board
1: Meetings of the Board shall be held at such times and places as the Chairperson
2: The Chairperson or she or her or her
3: Subject to subsection (4)
a: Three members shall form a quorum:
b: Each application before a meeting shall be determined by a majority of the members present:
c: The Chairperson
4: The presence of every appointed member of the Board or his or her Part 7 section 97 section 98
5: Subject to this Act and to any regulations made under it, the Board may regulate its procedure in such manner as it thinks fit. See section 3(3) (4) (7) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 6(2) insertion of or her His his 6(2), (4) substitution of Chairperson Chairman 6(1), (2), (3)(c)
7: Meetings to be held in public except in certain circumstances
1: Except as provided by subsections (2) to (4)
2: The Board may deliberate in private as to its decision in any matter or as to any question arising in the course of any proceedings before it.
3: Where the Board is satisfied that it is desirable to do so either by reason of the confidential nature of any evidence or matter, or that the interests of any party to the hearing in having the whole or any part of the proceedings conducted in private outweigh the public interest in having the hearing conducted in public, the Board may, of its own motion or on the application of any party to the proceedings, order that the whole or any part of the hearing shall be in private.
4: Every application to the Board under subsection (3)
5: In any case where a hearing of the Board is held in private, the Board may allow any particular person to attend the private hearing if it is satisfied that that person has a special and proper interest in the matter to be heard.
8: Remuneration and expenses of members of Board
1: The Board shall pay to its members out of funds provided by the Institute, such remuneration by way of fees, salary, or allowances, and travelling expenses and allowances, as the Board, with the approval of the Minister, may from time to time determine.
2: Except as provided in this section, no member of the Board shall be entitled to receive as a member any remuneration or other payment out of the funds of the Institute.
9: Functions and powers of Board
1: The principal functions of the Board shall be those conferred on it—
a: By Part 2
b: By Part 3 salespersons
ba: By sections 54B to 54D
c: By Part 7
d: By section 118
2: The Board shall also have such other functions as are conferred on it by this or any other Act.
3: The Board shall have all the powers necessary to carry out its functions. Subsection (1)(b) amended 23 March 1992 3(8) Real Estate Agents Amendment Act 1992 by substituting the word salespersons salesmen Subsection (1)(ba) inserted 1 December 1989 Real Estate Agents Amendment Act 1989
9A: Chairperson may exercise Board's jurisdiction in respect of certain matters
1: Notwithstanding anything in any of the foregoing provisions of this Part of this Act, the Chairperson of the Board may, on behalf of the Board,—
a: Exercise the Board's jurisdiction in respect of any application, pursuant to section 34
b: Make an order relating to the interim suspension of a licensee, officer of a company, or salesperson pursuant to section 98
2: Every decision of the Chairperson in relation to any matter under this section shall, for all purposes, be the decision of the Board. Section 9A inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Section 9A amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words salesman, or branch manager or salesman Section 9A substituted 9B inserted 1 July 1994 Real Estate Agents Amendment Act 1994 See section 3(4) (7) (9) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her his 9A(1)(a) substitution of Chairperson Chairman 9A(1), (2) and (3) substitution of salesperson salesman 9A(2)
9B: Registrar may be authorised to exercise Board's jurisdiction in respect of certain matters
1: Notwithstanding anything in any of the foregoing provisions of this Part of this Act, the Board may from time to time authorise the Registrar to exercise, on behalf of the Board, the Board's jurisdiction in respect of any of the following applications except where the Institute, or any other person entitled under this Act to do so, has objected to the application within the time allowed:
a: An application, pursuant to section 25
b: An application, pursuant to section 27
c: An application, pursuant to section 29
d: An application, pursuant to section 45
e: An application, pursuant to section 48
f: An application, pursuant to section 54B
g: An application, pursuant to section 48 section 54D(8)
2: Every decision of the Registrar in relation to any matter under this section shall, for all purposes, be the decision of the Board.
3: The Board may at any time revoke in whole or in part any authorisation granted to the Registrar pursuant to subsection (1) Section 9A substituted 9B inserted 1 July 1994 Real Estate Agents Amendment Act 1994
10: Receipt of money by Board
1: All fees and other money received by the Board pursuant to this Act shall, subject to subsection (2)
2: The Institute may enter into an agreement with the Board that the amounts or kinds of deductions specified in the agreement may be made by the Board from money otherwise held on behalf of the Institute.
11: Secretary of Board
The Registrar of Real Estate Agents appointed pursuant to section 35
12: Seal
1: The Board shall have a seal, which shall be judicially noticed in all Courts and for all purposes.
2: The seal shall be in the custody of the Registrar, and shall be applied to every licence and certificate of approval granted by the Board, and to such other documents of the Board as the Chairperson See section 3(7) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of Chairperson Chairman 12(2)
13: Representation of parties
1: Subject to any provision to the contrary in this Act, every person making an application to the Board shall be entitled to appear and be heard by the Board in respect of the application.
2: Where any person is entitled under this Act to appear and be heard in relation to proceedings before the Board, that person may appear in person or by his or her See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her his 13(2)
14: Evidence before Board
1: The Board may receive in evidence any statement, document, information, or matter that may, in its opinion, assist it to deal effectively with the matter before it, whether or not the same would otherwise be admissible in a Court of law.
2: The Board may, if it thinks fit in respect of any application before it, examine, on oath or otherwise, the applicant or any other party to the application, or require any person to verify by statutory declaration any statement made by him or her
3: The Chairperson or her See section 3(4) (5) (7) (10) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 14(3) insertion of or her him 14(2) substitution of Chairperson Chairman 14(3)
15: Reasons for adverse decision of Board may be obtained
Where any application under this Act is made to the Board and is refused by the Board, the applicant, and, in respect of any application made on behalf of a salesperson or branch manager salesperson or branch manager Section 15 amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
2: Licensing of real estate agents
16: Real estate agents to be licensed
1: Subject to section 34 or she
2: Every person, not being the holder of a licence, commits an offence and is liable to a fine not exceeding $2,000 who describes himself or herself or herself or her or her
3: All money forfeited to Her Majesty under subsection (2)
4: In any proceedings in respect of an offence under this section a certificate, signed by the Registrar, to the effect that the defendant or any other named person was not at the time of the alleged offence the holder of a licence shall, in the absence of proof to the contrary, be sufficient evidence of that fact. 1963 No 135 ss 4(1), 22 Subsection (2) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $1,000 See section 3(2) 3(3) 3(5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or herself himself 16(2) insertion of or she He he 16(1) insertion of or her him 16(2)
17: Eligibility for licences
1: Subject to this Part of this Act, every person who—
a: Has attained the age of 20 years and has passed the examinations for the time being prescribed by the Institute and has been approved by the Board for the purposes of this section; or
b: Is a company; or
bb: Is a building society; or
c: Was, at any time within 5 years before the commencement of this Act,—
i: The holder of a real estate agent's licence issued under the Real Estate Agents Act 1963
ii: A director or officer of a licensee company, in either case approved under section 21(2) of the Real Estate Agents Act 1963
ca: Has surrendered a licence pursuant to section 31
d: Is, and has been, an associate member of the Institute since before the 1st day of January 1966 and who has, at least since that date, been continuously engaged or employed as an approved salesperson shall be eligible to hold a licence under this Act.
2: Notwithstanding subsection (1)
a: He or she or her or she or her
b: He or she High Court
c: He or she
d: He or she working full-time or primarily and predominantly Real Estate Agents Act 1963
3: No company shall apply for or obtain a licence under this Act if such of the officers of the company (if it is granted a licence) as the Board may designate upon application made to it in that behalf are not eligible under this section from applying for or obtaining a licence in their own right.
4: Every person who applies for or obtains a licence knowing that he or she 1963 No 135 ss 4(2), 12 Subsection (1)(bb) inserted 1 September 1987 41(3) Building Societies Amendment Act 1987 Subsection (1)(ca) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (2)(c) substituted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (2)(d) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by inserting the words working full-time or primarily and predominantly The words High Court substituted 1 April 1980 Supreme Court 12 Judicature Amendment Act 1979 See section 3(3) (4) (9) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 17(2) and (4) insertion of or her His his 17(2)(a) substitution of salesperson salesman 17(1)(d)
18: Application for licence
1: Every person who desires to obtain a licence under this Act shall make application to the Board in the prescribed form.
2: Every application—
a: Shall state the place or places of business of the applicant, including every branch office:
b: Shall, where the applicant has or proposes to have 2 or more places of business, specify which of those places of business is to be his or her principal place of business
c: Shall specify the person who is to be the branch manager 1963 No 135 s 5(1)-(3) 1968 No 25 s 4(1) Subsection (2)(b) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words principal place of business registered office Subsection (2)(c) amended 9 December 1989 Real Estate Agents Amendment Act 1982 by substituting the words the branch manager in effective control See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 18(2)(b)
19: Notice of application to be given to Institute
1: The applicant shall serve on the Institute a copy of his or her
2: Within 1 month after the receipt by the Institute of a copy of an application under subsection (1)
a: To object to the issue of a licence to the applicant, in which case it shall state in the notice the grounds of its objection; or
b: To be heard in respect of the application, in which case it shall state in the notice the reasons why it desires to be heard.
3: The Institute shall send a copy of the notice to the applicant. 1963 No 135 s 5(4) 1968 No 25 s 4(2) See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 19(1)
20: Public notice to be given
1: In addition to complying with section 19
2: Any person (other than the Institute) may, within 1 month after the date of the first publication of the notice, give to the Board written notice of his or her
3: No objection may be made under subsection (2)
a: That by virtue of the provisions of section 17
b: Where the applicant is a person other than a company, that the applicant is not, by reason of his or her
c: Where the applicant is a company, that it is not, by reason of its financial position, or of the nature of any other business carried on or to be carried on by it, a proper person to be the holder of a licence:
d: Where the applicant is a company, that any person who will be an officer of the company if the application is granted is not, by reason of his or her
4: Every notice of objection filed under subsection (2)
5: The Registrar shall send a copy of each such notice to the applicant and to the Institute. 1963 No 135 s 8 1968 No 25 s 6(1) See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 20(2) and (3)(b) and (d) Hearing and disposal of applications
21: Board to hold a hearing except in certain cases
1: Subject to section 22(3) or her
2: The applicant and any person objecting to the issue of a licence to the applicant (including the Institute) shall be entitled to be present and to be heard.
3: Notwithstanding subsection (1) or she or her subsections (1) (2) See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 21(3) insertion of or her His his 21(1)
22: Board not to hear or consider an application until satisfied of certain matters
1: The Board shall not hear or consider an application for a licence under this Act until it is satisfied that the applicant has—
a: Served on the Institute a copy of every document that is required to be served on it under section 19(1)
b: Published a notice of his or her section 20(1)
c: Paid to the Institute all fees payable in respect of the application under the rules of the Institute; and
d: Paid the contribution to the Fidelity Guarantee Fund as required under section 76
e: Given notice to the Institute of the appointment of an auditor of his or her
f: Where the applicant is not a company, passed the examinations for the time being prescribed by the Institute.
2: For the purpose of subsection (1) paragraphs (a) (c) (d) (e) (f)
3: Notwithstanding subsection (1) section 19(1) section 20(1) 1963 No 135 s 5(5) 1968 No 25 s 4(3) See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 22(1)(b) and (e)
23: Board may grant licence
If, after hearing and considering any application for a licence and all objections (if any) to its issue, the Board is satisfied—
a: That the applicant is, under the provisions of section 17
b: That, having regard to the applicant's character and financial position, and to the interests of the public, and where appropriate, to the matters specified in section 24 the Board shall grant the licence, which shall be issued to the applicant in the prescribed form on payment of the prescribed fee. If the Board is not so satisfied, it shall not issue a licence to the applicant unless ordered to do so by the Court. 1963 No 135 s 9
24: Evidence required by Board
At any hearing or consideration of an application for a licence the Board shall require evidence of the following matters:
a: In any case where the applicant proposes to carry on business as a real estate agent in partnership with any other person, that each partner holds a licence granted under this Act or the Real Estate Agents Act 1963
b: In any case where the applicant is a company, the financial position of the company, and the eligibility of such of the officers of the company, as the Board thinks fit, to hold a licence under this Act:
c: In any case where the applicant has, since he or she Real Estate Agents Act 1963 or she
d: In any case where the applicant proposes to carry on business from any branch office, that the person, under whose control each such branch office will be, is entitled to hold a certificate of approval as a branch manager 1963 No 135 s 10(2), (3) See section 3(3) Real Estate Agents Amendment Act 1992 (c) 23 March 1992 or her Paragraph (d) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words entitled to hold a certificate of approval as a branch manager a qualified person
25: Licence to be held in licensee's own name unless Board otherwise approves
1: No licensee shall carry on business as a real estate agent under any name that is not—
a: His or her
b: Where the licensee is in partnership with any other person, the name of the firm or of one of the partners; or
c: unless the name has first been approved by the Board.
2: An applicant for a licence, or a licensee, may at any time apply in writing to the Board to approve a name for the purposes of subsection (1)
3: The applicant shall, forthwith after making application to the Board, send a copy of the application to the Institute.
4: The application shall not be heard or considered by the Board within 14 clear days after the date of the receipt of the copy of the application by the Institute.
5: The Institute shall be entitled to appear and be heard by the Board in respect of the application.
6: The Board shall not approve a name under subsection (2)
a: Whose licence has been surrendered under section 31
b: Whose application for a licence has at any time been refused, and who or which has not subsequently obtained such a licence; or
c: Who is not eligible to hold a licence under this Act; or
d: Who, having been the holder of a licence under the Real Estate Agents Act 1963 section 23 of the Real Estate Agents Act 1963
7: Notwithstanding any of the foregoing provisions of this section, no licensee shall carry on the business of a real estate agent under more than 1 name or description.
8: Every licensee who contravenes subsection (1) (7) $1,500 1963 No 135 s 11 1968 No 25 s 9 Subsection (1)(c) repealed 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (8) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $1,500 $750 See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 25(1)(a)
26: Effect of licence
A licence shall authorise the licensee to carry on the business of a real estate agent in any part of New Zealand at any place of business that is from time to time endorsed on the licence. 1963 No 135 s 14(1)
27: Carrying on business at place not specified in licence
1: No licensee shall carry on business as such at any branch office or her or she
2: A licensee may at any time apply in the manner prescribed by the Board to the Board for approval for the purposes of subsection (1)
a: Give the address of the proposed branch office; and
b: Give the name of the person who is to be the branch manager.
3: The applicant shall, forthwith after making application to the Board, send a copy of the application to the Institute.
4: The application shall not be heard or considered by the Board within 14 clear days after the date of the receipt of the copy of the application by the Institute.
5: The Institute shall be entitled to appear and be heard by the Board in respect of the application.
5A: The Board shall not give an approval under this section unless it is satisfied that the person under whose control the branch office will be is entitled to hold a certificate of approval as a branch manager
5B: The Institute may at any time apply to the Board for an order cancelling the approval granted under this section in respect of the branch
6: If a real estate agent states in any application made under subsection (2) principal place of business section 54(2B)
7: Where the Board gives its approval to any application under this section, the licence of the applicant shall be endorsed accordingly upon payment of the prescribed fee (if any), and the Registrar shall note the Register.
8: Every person who knowingly acts in contravention of subsection (1) $2,000 1963 No 135 s 14 1968 No 25 s 13 Subsection (1) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words branch office place of business Subsection (2) substituted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (2)(b) substituted 1 December 1989 Real Estate Agents Amendment Act 1989 Subsections (5A) 5(B) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words entitled to hold a certificate of approval as a branch manager a qualified person Subsection (6) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words principal place of business registered office section 54(2B) section 52 Subsection (8) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $1,000 See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 27(1) insertion of or her His his 27(1)
28: Duration of licence
A licence shall, unless it is sooner cancelled, or the licensee is sooner suspended, in accordance with the provisions of this Act, continue in force until the expiration of the year in respect of which it is issued, and may from time to time be renewed for the next succeeding year. 1963 No 135 s 15
29: Renewal of licence
1: An application for the renewal of a licence shall be made in the prescribed form to the Board not earlier than the 1st day of January and not later than the 15th day of February preceding the date of the expiry of the licence.
2: Forthwith upon making application to the Board, the applicant shall send a copy of his or her
3: The Institute may, before the 15th day of March preceding the date of expiry of the licence, give to the Board notice of its desire to object to the renewal of the licence, or to be heard in respect of the application, in the same manner as if the application were an application for the issue of a licence, and section 21
4: Any person other than the Institute may, before the 15th day of March preceding the date of the expiry of the licence, give to the Registrar notice of that person's desire to object to the renewal of the licence on any of the following grounds:
a: Any of the grounds specified in section 20(3)
b: That the applicant has not properly been in effective control of his or her or her or her branch manager section 54
c: That the applicant has permitted any person, other than a person lawfully carrying on the business of a real estate agent, to act as his or her or her
d: That the applicant has not shown that each branch office from which he or she branch manager section 54
da:
e: Having regard to the character or fitness of any salesperson or branch manager and subsections (4) (5)
5: In any case where no notice of objection is given under subsection (3) (4)
a: Grant the application without further inquiry; or
b: Call and hear the applicant on any matter affecting the application.
5A: After calling and hearing the applicant under subsection (5)(b)
a: May grant the application; or
b: Where it considers the Institute would have made an objection under this section if it had been aware of the matters known to the Board in respect of the application, shall refer the matters to the Institute.
5B: The Institute may, within 14 clear days after the date of the receipt of any matters referred to it under subsection (5A)(b) subsection (6)
6: Where a notice of objection is given within the time allowed, the application shall be heard and determined by the Board and sections 22 23 24
7: Where an objection is made on the ground set out in subsection (4)(d)
8: An application for the renewal of a licence, or any objection to the renewal of a licence, may be heard and determined under this section notwithstanding that the application or notice of objection is not filed by the date specified in this section, if the application or notice is filed before the date of the expiry of the licence.
9: Where an application for the renewal of a licence is granted, the licence shall be endorsed accordingly on payment of the prescribed fee.
10: Where an application for the renewal of a licence has been made but not determined before the date on which the licence would otherwise expire, the licence shall, notwithstanding section 28 1963 No 135 s 16 1968 No 25 s 14 Subsection (4)(b) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words branch manager qualified person Subsection (4)(d) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words branch manager qualified person Subsection (4)(da) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (4)(da) repealed 1 December 1989 Real Estate Agents Amendment Act 1989 Subsection (4)(e) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager Subsection (5) substituted 10 December 1982 (5A) (5B) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 See section 3(3) (4) (9) (10) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 29(4)(d) insertion of or her His his 29(2), 29(4)(b) and (c) substitution of salesperson salesman 29(4)(e)
30: Special provisions in respect of partnerships and companies
1: No person shall, after the issue to him or her or her
2: Where a company is the licensee, no person who was not, at the date of the issue of the licence, an officer of the company shall act in such capacity in respect of that company without the prior approval of the Board upon an application made in that behalf; and the Board shall refuse to grant its approval unless it is satisfied that—
a: That person is eligible to apply for or obtain a licence; or
b: That person does not hold an office in respect of which the Board has required the holder under section 17(3)
c: If that person is not eligible to apply for or obtain a licence, the real estate agency business of the company is disproportionately small in relation to any other business of the company.
3: The applicant shall, forthwith after making application to the Board, send a copy of the application to the Institute.
4: The application shall not be heard or considered by the Board within 14 clear days after the date of the receipt of the copy of the application by the Institute.
5: The Institute shall be entitled to appear and be heard by the Board in respect of the application.
6: Any person who knowingly acts in contravention of subsection (1) (2) $2,000 1963 No 135 s 21 1968 No 25 s 17 Subsection (6) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $1,000 See section 3(4) (5) (10) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her him 30(1) insertion of or her his 30(1)
31: Voluntary surrender of licence
1: A licensee may at any time surrender his or her
2: The Registrar shall endorse on the notice and the Register the date on which he or she
3: Where a licensee forwards to the Registrar a notice under subsection (1)
4: The surrender of a licence under this section shall not affect the licensee's liability—
a: To pay any fees or other money payable or to be payable in accordance with this Act on or before the date on which the licence would, but for its surrender, expire:
b: To perform any obligation required to be performed by him or her
c: For any act done or default made before the date on which the licence ceased to have effect. 1963 No 135 s 24A 1968 No 25 s 18 SSee section 3(3) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she he 31(2) insertion of or her his 31(1) insertion of or her him 31(4)(b)
32: Temporary licence
1: Any person who—
a: In the case of a licensee who is person subject to a property order under the Protection of Personal and Property Rights Act 1988 or her
b: In the case of a licensee in respect of whom a property order Protection of Personal and Property Rights Act 1988 or her
c: In the case of a licensee who is deceased, is his or her
d: In the case of a licensee who has been adjudicated bankrupt, is his or her
e: In the case of a licensee company that is in liquidation or receivership, is the liquidator or receiver of that company, as the case may be; or
f: In the case of a licensee who is sick, absent, or is otherwise temporarily prevented from carrying on business as a real estate agent, is his or her
g: In the case of a licensee building society that is being dissolved, is the liquidator or other person conducting its dissolution, or a trustee appointed under an instrument of dissolution of the building society,— may apply to the Board in the prescribed form for authority to carry on or appoint some other person to carry on the licensee's business as a real estate agent for such period as the Board determines.
2: While any person authorised under subsection (1) (7) or she
3: A copy of every application made under subsection (1)
4: In any case where the Board has, under subsection (1)
a: That it is not in the interests of the public for the business to be carried on; or
b: That the person carrying on the business has been convicted of an offence against this Act or against any regulations for the time being in force under this Act; or
c: That the person carrying on the business has failed to comply with the rules or code of ethics of the Institute.
5: A copy of every application made under subsection (4)
6: On the hearing of an application under subsection (4)
7: Where under subsection (1)
8: Notwithstanding subsection (7) subsection (1) 1963 No 135 s 20 1968 No 25 s 16 Subsection (1)(a) amended 23 December 1977 Real Estate Agents Amendment Act 1977 by inserting the words a licensee who is Subsection (1)(a) amended 1 October 1988 by substituting the words person subject to a property order under the Protection of Personal and Property Rights Act 1988 protected patient within the meaning of the Mental Health Act 1969 117(3) Protection of Personal and Property Rights Act 1988 The reference to a person subject to a property order under the Protection of Personal and Property Rights Act 1988 was substituted 1 October 1988 protected person under the Aged and Infirm Persons Protection Act 1912 117(3) Protection of Personal and Property Rights Act 1988 Subsection (1)(e) amended 23 December 1977 Real Estate Agents Amendment Act 1977 by substituting the words as the case may be; or as the case may be,— Subsection (1)(f) inserted 23 December 1977 Real Estate Agents Amendment Act 1977 Subsection (1)(g) inserted 1 September 1987 41(3) Building Societies Amendment Act 1987 Subsection (2) amended 23 December 1977 Real Estate Agents Amendment Act 1977 by substituting the words authorised under subsection (1) or subsection (7) of this section so authorised See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her his 32(1)
33: Administration of trust account in certain cases
1: This section shall apply in any case where the Board is satisfied that any real estate agent—
a: Is, owing to physical or mental disability, unable properly to administer his or her
b: Has died; or
c: Has been adjudicated a bankrupt; or
d: Has had his or her
e: Has been suspended from carrying on the business of a real estate agent; or
f: Has ceased to carry on the business of real estate agent and has neglected to wind up his or her or her or her and that any money entrusted to that real estate agent is held by a banker in any trust account of the real estate agent.
2: Subject to subsection (4) section 88
3: A copy of every order made by the Board under this section shall be served on the banker, and on receipt of such copy the banker shall allow any 2 nominated members of the Institute to administer the trust account on behalf of the Institute.
4: No order shall be made under this section in any case where an order made under section 32 See section 3(4) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 33(1) insertion of or her him 33(1)(f)
34: Permits
1: Notwithstanding section 16 or her section 16
2: Forthwith after receiving an application under subsection (1)
3: The application shall not be considered by the Board within 14 clear days after the receipt of the copy of the application by the Institute.
4: The Institute shall be entitled to appear and be heard by the Board in respect of the application.
5: If, after the issue of a permit under this section, the Board is satisfied that the holder of the permit has not complied with all the conditions of the permit, the Board may, by notice in writing to the holder, revoke the permit.
6: Any permit issued by the Board under subsection (1)
7: A copy of every permit, revocation of a permit, or extension of a permit shall be given by the Board to the Institute. See section 3(5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her him 34(1) Registrar of real estate agents
35: Registrar of Real Estate Agents
1: The Board shall, from time to time and after consultation with the Institute, appoint a Registrar of Real Estate Agents.
2: The Institute shall pay to the Registrar, out of the funds of the Institute, such salary, fees, and allowances as it from time to time thinks fit.
36: Register of Real Estate Agents
1: For the purpose of this Act the Registrar shall set up and maintain a Register of Real Estate Agents.
2: The Register shall be open to inspection by the public during ordinary office hours on payment of the prescribed fee (if any).
3: On payment to him or her See section 3(5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her him 36(1)
37: Registrar to record the issue, renewal, suspension, and cancellation of licences and certificates of approval in Register
1: Wherever a licence or certificate of approval is issued, renewed, or cancelled under this Act, or a licensee or holder of a certificate of approval is suspended, the Registrar shall make an appropriate entry in the Register, showing—
a: In the case of the issue of a licence, the name and address of the licensee, the qualification by virtue of which he or she or her branch manager of such branch office
b: In the case of the issue of a certificate of approval, the name and address of the holder and his or her
c: In the case of the renewal of a licence or certificate of approval, the date on which the application was granted:
d: In the case of the cancellation of a licence or certificate of approval or the suspension of a licensee or holder of a certificate of approval, the date and the grounds on which the cancellation or suspension was made.
2: The Registrar shall also, in respect of any entry, record such other particulars as may be required by this Act or as may from time to time be prescribed.
3: As soon as practicable after making any entry in the Register, the Registrar shall give notice in writing to the Institute of the entry, together with all relevant particulars. 1968 No 25 s 7 Subsection (1)(a) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words branch manager of such branch office person in effective control of such branch office as approved by the Board pursuant to section 24(d) of this Act See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she he 37(1)(a) insertion of or her His his 37(1)(a) and (b)
38: Correction of Register
1: If any person has been issued with a licence or certificate of approval under this Act by reason of any false or fraudulent representation or statement, or if any person not entitled to be issued with a licence or certificate of approval under this Act has one so issued, the Board shall cancel that licence or, as the case may require, that certificate, and cause the name of the licensee or holder to be removed from the Register, and the fact of the cancellation and removal shall be notified by the Registrar in the Gazette
2: If any particulars appearing in the Register in respect of the qualifications of any licensed real estate agent are proved to the satisfaction of the Board to be, or are to the knowledge of the Board, false or erroneous in any respect, the Board shall direct the Registrar to remove those particulars from the Register, and the Registrar shall amend the Register accordingly.
3: Subsection (2)
39: Registrar to keep copies of permits
1: The Registrar shall keep and maintain a file containing a copy of every permit issued pursuant to section 34
2: The file shall be open to inspection by the public during ordinary office hours on payment of the prescribed fee (if any).
40: Penalty for wrongfully procuring issue of licence, certificate of approval, permit, or extension of time
Every person commits an offence and is liable to a fine not exceeding $2,000 or herself section 44 Section 40 amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $1,000 See section 3(2) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or herself himself
41: Lost licences, certificates, and permits
Where the Registrar is satisfied that any licence, certificate of approval, or permit has been lost he or she or her See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he insertion of or her him
3: Approved
salespersons
42: No person to employ, or act as, salesperson without certificate of approval
Every person commits an offence and is liable to a fine not exceeding $1,500
a: Being a licensed real estate agent, engages or employs as a salesperson or her section 46
b: Not being the holder of a certificate of approval then in force, acts as a salesperson
c: Acts as a salesperson salesperson 1963 No 135 s 13(7), (7A) 1968 No 25 s 10(4) Section 42 amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $1,500 $750 See section 3(3) (9) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her his 42(a) substitution of salesperson salesman 42
43: Limit on employment of unqualified persons
Subsection (1) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by inserting the words who work primarily and predominantly at or from that place Subsections (2) to (5) repealed 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (6) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by omitting the words without the Board's approval Subsections 43 44 repealed 1 December 1989 Real Estate Agents Amendment Act 1989
44: Continued employment of unqualified person in certain cases
Subsections 43 44 repealed 1 December 1989 Real Estate Agents Amendment Act 1989
44A: Objection to recognition as qualified person
Section 44A inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Section 44A repealed 1 December 1989 Real Estate Agents Amendment Act 1989
45: Application for approval of
salesperson
1: An application for the approval of a salesperson salesperson salespersons
2: The application shall be made in the prescribed form.
3: The applicant shall, as soon as practicable after making application to the Board, send a copy of the application to the Institute.
4: The application shall not be heard or considered by the Board within 14 clear days after the date of the receipt of the copy of the application by the Institute.
5: The Institute shall be entitled to appear before and be heard by the Board in respect of the application. 1963 No 135 s 13(1)-(3) See section 3(8) (9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salespersons salesmen 45(1) substitution of salesperson salesman 45(1) The original subsection (2) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words who work or will work primarily and predominantly at or from that place except where approved by the Board pursuant to section 43(2) of this Act Subsection (2) substituted 1 December 1989 Real Estate Agents Amendment Act 1989
46: Board may grant certificate of approval
1: If, after considering any application for a certificate of approval, the Board is satisfied that—
a: The Institute does not wish to appear before and be heard by the Board in respect of the application; and
b: Having regard to the character and general knowledge of the person in respect of whom the application is made, and to the interests of the public, the person is a fit and proper person to be employed as a salesperson
c: the Board shall, on payment of the prescribed fee, issue to the applicant a certificate of approval in the prescribed form.
2: If the Board is not so satisfied, it shall appoint a time and place for hearing the application, and shall give at least 14 days' notice of the hearing to the applicant and the Institute.
3: In any case to which subsection (2)
4: If, after hearing an application, the Board is satisfied of the matters specified in paragraph (b)
5: Where the Board is not satisfied of the matters specified in paragraph (b) 1963 No 135 s 13(4) Section 46 substituted 30 March 1987 Real Estate Agents Amendment Act 1987 Subsection (1)(b) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by omitting the expression ; and Subsection (1)(c) repealed 1 December 1989 Real Estate Agents Amendment Act 1989 Subsections (4) (5) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by omitting the words and paragraph (c) See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 46(1)(b)
47: Duration of certificate of approval
Every certificate of approval shall, unless sooner cancelled under this Act, continue in force until the expiration of the year for which it is issued, whether or not the salesperson 1963 No 135 s 13(5) See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
48: Renewal of certificate of approval
1: An application for the renewal of a certificate of approval shall be made to the Board in the prescribed form by the licensee by whom the salesperson
2: After making application to the Board, the applicant shall serve a copy of it on the Institute in the same manner as if it were an application for the issue of a certificate of approval.
3: The application shall not be determined subsection (2)
4: The Institute may, before the 15th day of March preceding the date of the expiry of the certificate of approval, give to the Board a notice of its desire to object to the renewal of the certificate, or to be heard in respect of the application.
5: Subject to subsection (8) subsection (4)
6: Where a notice is given to the Board within the time allowed, the application shall be
7:
8: An application for the renewal of a certificate of approval, or any objection thereto, may be
9: Where an application for the renewal of a certificate of approval is granted, the certificate of approval shall be endorsed accordingly on payment of the prescribed fee.
10: Where an application for the renewal of a certificate of approval has been made but not determined before the date on which the certificate would otherwise expire, the certificate shall continue in force until the application is determined. 1963 No 135 s 13(6) Subsection (3) amended 30 March 1987 Real Estate Agents Amendment Act 1987 by substituting the word determined heard Subsections (6) (8) amended 30 March 1987 Real Estate Agents Amendment Act 1987 by omitting the words heard and Subsection (7) repealed 30 March 1987 Real Estate Agents Amendment Act 1987 See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 48(1)
49: Institute may require list of
salespersons
1: The Institute may at any time by notice in writing direct any licensee to supply it with a list containing the full name, residential address, and place of employment, of every salesperson or her
2: Every licensed real estate agent who fails within 14 days to comply with a direction given under subsection (1) salespersons 1963 No 135 s 13A 1968 No 25 s 11 See section 3(5) (8) (9) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her him substitution of salespersons salesmen substitution of salesperson salesman
50: Custody of certificates of approval
1: Every certificate of approval and every renewal thereof shall at all times be kept in the custody of the real estate agent who employs the salesperson
2: When a salesperson salesperson or her salesperson's
3: If any such salesperson or her after payment of the prescribed fee (if any) 1963 No 135 s 13B 1968 No 25 s 12 Subsection (2) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by inserting the words and shall at the same time advise the Registrar in writing whether or not the salesman was a qualified person for the purposes of section 43(1) of this Act amended 1 December 1989 Real Estate Agents Amendment Act 1989 Subsection (3) amended 22 October 1981 Real Estate Agents Amendment Act 1981 by inserting the words after payment of the prescribed fee (if any) See section 3(5) (8) (9) (10) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her him substitution of salespersons salesmen substitution of salesperson salesman substitution of salesperson's salesman's
51: Voluntary surrender of certificate of approval
1: A salesperson or her or her salesperson's
2: The Registrar shall endorse on the notice and the Register the date on which he or she
3: Where a licensee forwards to the Registrar a notice under subsection (1)
4: The surrender of a certificate of approval under this section shall not affect the salesperson's See section 3(3) (4) (9) (10) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she he 51(2) insertion of or her his 51(1) substitution of salesperson salesman 51(1) substitution of salesperson's salesman's 51(1) and (4)
51A: Employment status of certain salespersons
1: This section applies (or, as the case may be, shall be deemed to have applied) to a salesperson and a real estate agent at any time if—
a: Before that time and before the commencement of the Real Estate Agents Amendment Act 1992
b: Before that time and on or after the commencement of the Real Estate Agents Amendment Act 1992
2: At a time before the 19th day of July 1990 when this section is deemed to have applied to a salesperson and a real estate agent, the salesperson shall for all purposes (other than the purposes of the Income Tax Act 1976 Goods and Services Tax Act 1985
3: At a time after the 31st day of March 1991 and before the 22nd day of August 1991 when this section is deemed to have applied to a salesperson and a real estate agent, the salesperson shall for the purposes of the Income Tax Act 1976
4: At a time after the 21st day of August 1991 and before the 1st day of April 1992 when this section applies (or is deemed to have applied) to a salesperson and a real estate agent, the salesperson shall for all purposes (other than the purposes of the Goods and Services Tax Act 1985
5: At a time after the 31st day of March 1992 when this section applies to a salesperson and a real estate agent, the salesperson shall for all purposes be deemed to be engaged by the agent under a contract for services.
6: Notwithstanding subsections (2) to (5) This section was inserted 23 March 1992 2(1) Real Estate Agents Amendment Act 1992
4: Duties of real estate agents
52: Licensee to have registered office
Subsection (2) substituted 20 October 1978 Real Estate Agents Amendment Act 1978 Subsection (5) added 20 October 1978 Real Estate Agents Amendment Act 1978 This section and the preceding heading were repealed 10 December 1982 Real Estate Agents Amendment Act 1982
53: Licensee to display notice on place of business, etc
1: Every licensee shall exhibit and keep exhibited in a prominent place at each of his or her or her or she or she or her
2: The information referred to in subsection (1) or her or her
3: It shall be sufficient compliance with the provisions of this section requiring a licensee to exhibit at any place or to show on any document the fact that he or she or she MREINZ
4: Every licensee who fails to comply with subsection (1) (2) 1963 No 135 s 26 1968 No 25 s 20 See section 3(3) (4) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 53(1) and (3) insertion of or her His his 53(1) and (2) insertion of or her him 53(2) Supervision of business
54: Supervision of business
1: A licensee or, if the licensee is a company, an officer of the company who is eligible to hold a licence shall be in effective control of the principal place of business of a real estate agent.
2: Every branch office of a real estate agent (as specified in the agent's licence) shall be under the effective control of a person approved by the Board, in accordance with sections 54B to 54D
3: A licensee may at any time, by notice in writing given to the Registrar, change the address of his or her principal place of business to that of any of his or her branch offices, and shall forward a copy of any such notice to the Institute within 7 days after the notice is given to the Registrar.
4: For the purposes of this section, the Board may, on application made in writing in that behalf by either the licensee or the Institute, determine which place of business of that licensee is his or her principal place of business.
5: Every real estate agent commits an offence against this Act who, for any continuous period of more than 4 weeks, allows any person other than one specified in subsection (1) (2) The original subsection (1) amended 23 December 1977 Real Estate Agents Amendment Act 1977 by substituting the words eligible to hold a licence, a qualified person, Subsections (1) (2) substituted (2A) to (2C) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Section 54 substituted 1 December 1989 Real Estate Agents Amendment Act 1989
54A: Approvals for remote located
salespersons
1: In this section, the term remote located salesperson salesperson branch manager
2: A licensee may apply to the Board for approval to employ or engage remote located salespersons
a: Each salesperson
b: Each salesperson salesperson
3: The applicant shall, as soon as practicable after making application to the Board, send a copy of the application to the Institute.
4: The application shall not be heard or considered by the Board within 14 clear days after the date of the receipt of the copy of the application by the Institute.
5: The Institute shall be entitled to appear and be heard by the Board in respect of the application.
6: The Board, after being satisfied of the matters referred to in subsection (2)
7: The Institute may at any time apply to the Board for an order cancelling an approval granted under this section on either or both of the following grounds:
a: That the remote located salesperson subsection (2)(b)
b: That the licensee has breached or failed to comply with any condition imposed by the Board in granting its approval.
8: Any approval granted pursuant to this section shall cease to have effect—
a: Where an order is made by the Board pursuant to subsection (7)
b: Where the licensee who engages or employs the remote located salesperson salesperson
9: Where any other licensee establishes an approved place of business within the area in which a remote located salesperson salesperson subsections (3) to (4)
10: The Board may, if it thinks fit, order the cancellation of an approval pursuant to an application made under subsection (9) Section 54A inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (1) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words branch manager qualified person Subsection (2)(b) substituted 1 December 1989 Real Estate Agents Amendment Act 1989 See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 54A(1), (2), (7)(a), (8)(b) and (9)
54B: Application for approval of branch manager
1: An application for the approval of a branch manager may be made to the Board at any time by a licensee or an applicant for a licence on behalf of any person who intends to become a branch manager.
2: The applicant shall, as soon as practicable after making application to the Board, send a copy of the application to the Institute.
3: The application shall not be heard or considered by the Board until the expiration of 14 days after the date of the receipt of the copy of the application by the Institute.
4: The Institute shall be entitled to appear before and be heard by the Board in respect of the application. Sections 54B to 54E inserted 25 October 1989 Real Estate Agents Amendment Act 1989
54C: Criteria for approval as branch manager
On an application made under section 54B
a: That person is—
i: Eligible under this Act to hold a licence; and
ii: The holder of a certificate of approval to act as a salesperson section 46
b: That person—
i: Has attained the age of 20 years; and
ii: Is the holder of a certificate of approval to act as a salesperson section 46
iii: Has passed the examinations for the time being prescribed by the Institute for persons intending to become branch managers; and
iv: Has had, during the preceding 5 years, at least 3 years' practical experience working full-time or primarily and predominantly in real estate agency work; or
c: That person—
i: Has attained the age of 20 years; and
ii: Is the holder of a certificate of approval to act as a salesperson section 46
iii: Is recognised by the Board as having been, at any time within the period of 5 years immediately preceding the date of the commencement of section 3 of the Real Estate Agents Amendment Act 1989
iv: Has had, during the preceding 5 years, at least 3 years' practical experience working full-time or primarily and predominantly in real estate agency work; or
d: That person—
i: Holds the position of branch manager for a stock and station agent licensee; and
ii: In that position, supervises any salesperson
iii: Is an associate member of the Institute. Sections 54B to 54E inserted 25 October 1989 Real Estate Agents Amendment Act 1989 See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
54D: Powers of Board in respect of application for approval of branch manager
1: If, after considering an application made under section 54B
a: That the Institute does not wish to appear before and be heard by the Board in respect of the application; and
b: That the proposed branch manager is, under the provisions of section 54C
c: That, having regard to the interests of the public, the proposed branch manager is a fit and proper person to be employed as a branch manager by a real estate agent,— the Board shall, on payment of the prescribed fee (if any), issue to the applicant a certificate of approval.
2: If the Board is not so satisfied, it shall appoint a time and place for hearing the application, and shall give at least 14 days' notice of the hearing to the applicant and the Institute.
3: In any case to which subsection (2)
4: If, after hearing an application, the Board is satisfied of the matters specified in paragraphs (b) (c)
5: Where the Board is not satisfied of the matters specified in paragraph (b) (c)
6: Subject to subsection (7)
7: A certificate of approval issued under this section on the ground specified in section 54C(d)
8: The provisions of sections 47 to 51 salesperson Sections 54B to 54E inserted 25 October 1989 Real Estate Agents Amendment Act 1989 See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 54D(8)
54E: On transfer of branch manager, licensee to notify Registrar and Institute
Where a licensee transfers a branch manager from one branch office to another, the licensee shall give notice in writing to the Registrar of the transfer, and shall forward a copy of the notice to the Institute within 7 days after the notice is given to the Registrar. Sections 54B to 54E inserted 25 October 1989 Real Estate Agents Amendment Act 1989 Receipt of money and audit of accounts
55: Treatment of certain money received by real estate agent
For the purposes of sections 56 to 59
a: Any money received by any real estate agent by way of rent from the letting of any land, and any principal or interest received by any real estate agent arising out of any transaction affecting land, shall be deemed to be money received by him or her or her
b: Any insurance premiums received by a real estate agent on behalf of an insurance company, and any other money received by a real estate agent in the course of any agency business conducted by him or her or her or her or her 1963 No 135 s 27(5) See section 3(4) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his insertion of or her him
56: Duty of real estate agent with respect to money received in course of business
1: Subject to subsection (4) or her Provided that where the real estate agent is in doubt on reasonable grounds as to the person who is lawfully entitled to any such money, he or she or her
2: Pending the payment of any such money, it shall be paid by the real estate agent into a general or separate trust account at any bank carrying on business in New Zealand under the authority of any Act, and, subject to subsection (4)
3: No money to which this section applies shall be available for payment of the real estate agent's debts, nor shall it be liable to be attached or taken in execution under the order or process of any Court at the instance of any of the real estate agent's creditors.
4: Nothing in this section shall be construed as to take away or affect any just lien or claim which the real estate agent may have on or in respect of any money received by him or her
5: Every licensee who contravenes or fails to comply with any of the provisions of this section commits an offence. 1963 No 135 s 27(1)-(4), (6) See section 3(4) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 56(1) insertion of or her him 56(4)
57: Money to be held by real estate agent for 10 days
1: Except in pursuance of an order of a Court of competent jurisdiction or an authority signed by all the parties to the transaction, where a real estate agent receives any money (other than money received by way of rent from the letting of any land) in respect of any transaction, he or she or she or she or she or she
2: Every person who contravenes or fails to comply with subsection (1) 1963 No 135 s 30 See section 3(3) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 57(1)
58: Real estate agent to furnish account to principal
1: Forthwith on the demand of the person for whom he or she or her or her
2: It shall be sufficient compliance with the provisions of this section in respect of rent or interest collected by a real estate agent if he or she
3: Where a real estate agent is in doubt on reasonable grounds as to the person who is lawfully entitled to any such money, he or she or she
4: If any real estate agent refuses or, for a period of 7 days after demand, neglects or fails to render an account, or, in the absence of a demand, neglects or fails to render an account within the period of 28 days allowed under subsection (1) or she
5: Subject to section 57 56(1) section 56(1) or her or she 1963 No 135 s 29 See section 3(3) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 58 insertion of or her His his 58(1) insertion of or her him 58(1) and (5)
59: Rendering false account
Every person is liable on conviction on indictment to imprisonment for a term not exceeding 5 years or to a fine not exceeding $2,000 or her or her 1963 No 135 s 31 Section 59 amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $1,000 See section 3(4) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 59 insertion of or her him 59
60: Real estate agents' trust accounts to be audited
1: Every general or particular trust account of a real estate agent shall be audited at the times and in the manner prescribed by regulations made under this Act.
2: Every real estate agent commits an offence who fails to appoint an auditor within the time prescribed, or who fails to comply with the provisions of any regulations relating to the audit of real estate agents' trust accounts.
3: All information obtained by an auditor in the course of the audit of any trust account under this Act shall be treated as confidential, subject only to such rights of publication as may be prescribed in furtherance of the proper purposes of the audit. 1963 No 135 s 28 Miscellaneous duties
61: Real estate agent not to act as land broker in connection with same transaction
Section 61 repealed 1 August 2008 section 341 Lawyers and Conveyancers Act 2006
62: Real estate agent to have written contract of agency
No person shall be entitled to sue for or recover any commission, reward, or other valuable consideration in respect of any service or work performed by him or her
a: He or she Real Estate Agents Act 1963
b: His or her or her 1963 No 135 s 79 See section 3(3) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 62(a) insertion of or her His his 62(b) insertion of or her him 62
63: Purchase or lease by agent voidable
1: No real estate agent shall, without the consent on the prescribed form of his or her or herself
a: Purchase or take on lease, or be in any way concerned or interested, legally or beneficially, in the purchase or taking on lease of any land or business which he or she
b: Sell or lease to his or her , civil union partner, de facto partner,
2: No partner or employee of a real estate agent and no officer of a company that is a real estate agent shall, without the consent on the prescribed form of the principal of the real estate agent, directly or indirectly,—
a: Purchase or take on lease, or be in any way concerned or interested, legally or beneficially, in the purchase or taking on lease of any land or business which the real estate agent of whom he or she or she or she
b: Sell or lease to his or her , civil union partner, de facto partner,
3: Any contract made in contravention of this section shall be voidable at the option of the principal. No commission shall be payable in respect of any such contract, whether the principal has avoided it or not; and any commission paid in respect of the contract shall be repayable by the real estate agent to his or her 1963 No 135 s 78 1968 No 25 s 26 See section 3(2) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 63 insertion of or her His his 63 insertion of or herself himself 63(1) Subsection (1)(b) amended 26 April 2005 4(1) Real Estate Agents Amendment Act 2005 by inserting the words , civil union partner, de facto partner, spouse See section 3 Subsection (2)(b) amended 26 April 2005 4(2) Real Estate Agents Amendment Act 2005 by inserting the words , civil union partner, de facto partner, spouse See section 3
64: Real estate agent to provide valuation
1: This section shall apply to every real estate agent, partner or employee of a real estate agent, or officer of a company that is a real estate agent; but, in relation to any real estate agent (whether a company or not) that carries on other business in addition to its business as a real estate agent, shall not apply to any employee of that real estate agent whose work primarily and predominantly relates to that other business.
2: Every person to whom this section applies shall either—
a: Before seeking the consent of a principal for the purposes of section 63
b: With the agreement of the principal, within 14 days after obtaining that consent— supply, at his or her
3: Every consent given under section 63 subsection (2)
4: Where—
a: A principal gives his or her consent under section 63 subsection (2)
b: The valuation, when supplied, is greater than the valuation specified in the prescribed form of consent as the provisional valuation,— any contract to which the principal is a party and to which the consent relates shall be voidable at the option of the principal. This section was substituted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (4) inserted 1 July 1994 Real Estate Agents Amendment Act 1994 See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his
65: Real estate agent to give copy of contract
1: Every real estate agent shall, forthwith after any person has signed an offer or an agreement or other form of contract to purchase or to take on lease any land through the agency of the real estate agent, give to that person a true copy of the offer or the agreement or other form of contract.
2: Every real estate agent who fails to comply with subsection (1)
66: Representations by real estate agent to be question of question of fact
Section 66 repealed 1 April 1980 14(4) Contractual Remedies Act 1979
5: The real estate institute of New Zealand incorporated
67: Licensees to be members of Institute
1: Every licensee shall be a member of the Institute, whether or not he or she
2: Every member of the Institute who ceases to hold a licence for the time being in force shall thereupon cease to be a member of the Institute, unless he or she or her
3: Notwithstanding subsection (1)
4: Every member of the Institute shall from time to time pay to the Institute the fees or other payments, annual or otherwise, that are payable in respect of his or her
5: If any fee or other payment payable to the Institute by a member under subsection (4)
6: While a person is suspended under subsection (5) or she
a: If he or she
b: If he or she
7: If any person suspended under this section satisfies the Board that all fees and other payments have been paid, the Board shall cancel the suspension of that person. 1963 No 135 s 32 1968 No 25 s 21 See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 68(1), (2) and (6) insertion of or her His his 68(2) and (4)
68: Conscientious objection to membership of Institute
1: Notwithstanding section 67 or her
2: While any such exemption continues in force, and all conditions relating to the exemption are duly complied with, the person granted the exemption shall be excused from membership of the Institute.
3: Every person who is for the time being exempted from membership of the Institute shall from time to time pay to the Institute the fees or other payments, annual or otherwise, that he or she or she
4: If any fee or other payment payable to the Institute under subsection (3)
5: While a person is suspended under subsection (4) or she
a: If he or she
b: If he or she
6: If any person suspended under subsection (4)
7: All the provisions of this Act and of the rules and code of ethics of the Institute relating to the discipline of members of the Institute, all the decisions of the Institute regulating the charges that may be made by real estate agents for work as such, and all other provisions of those rules and that code that are not inconsistent with the provisions of this section, shall apply with respect to every person exempted from membership of the Institute under this section as if he or she 1963 No 135 s 32 See section 3(3) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 68(3), (5) and (7) insertion of or her him 68(1)
69: Improper use of words, etc, implying membership of Institute
Every person commits an offence who, not being a member of the Institute, holds himself or herself or she 1963 No 135 s 34 See section 3(2) (3) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or herself himself insertion of or she He he
70: Rules of Institute
1: The Institute may from time to time make rules (not inconsistent with this Act or any regulations made under it) for all or any of the following purposes:
a: The regulation and good government of the Institute, its members, and affairs:
b: Prescribing the qualifications for membership of the Institute, and for different classes of members:
c: The creation of districts, and the constitution, election, and tenure of office of the Council, and the filling of extraordinary vacancies thereon:
d: Regulating the election of the President and Vice-Presidents of the Institute, and the filling of extraordinary vacancies in those offices:
e: Providing for the constitution of branches of the Institute:
f: Regulating the audit of the accounts of the Institute and the appointment of auditors, and prescribing their qualifications:
g: Providing for and regulating the granting of certificates of membership:
h: Prescribing the examination in any subjects to be passed by persons intending to apply for a licence, or by persons intending to become salespersons salespersons
i: Regulating the members of the Institute who are not holders of licences:
j: Providing for the convening of ordinary and special meetings of the Institute and of the Council, and regulating the quorum, the representation of members, and the procedure:
k: Providing for the conferring of fellowships, honorary memberships, and other distinctions:
l: Prescribing the fees or other payments, annual or otherwise, to be paid by members of the Institute, not being licence fees or payments to be made into the Fidelity Guarantee Fund:
m: Prescribing a code of ethics for regulating the professional conduct of members of the Institute and the conduct of salespersons and branch managers
ma: For the purposes of establishing Regional Disciplinary Committees within a region to deal with matters relating to the discipline of persons engaged in real estate business in that region, creating regions by amalgamating 2 or more districts, and amalgamating or abolishing any such region created:
mb: Establishing Regional Disciplinary Committees, one in each region, constituted pursuant to section 101
mc: Establishing sub-committees of Regional Disciplinary Committees within each district (consisting of not more than 3 members of the Institute who need not be carrying on business outside that district) for the purpose of determining such minor matters relating to discipline as may be referred to it from time to time by the Institute, and regulating the procedure of, and methods of determination by, such a sub-committee of those minor matters:
n:
o: Imposing fines not exceeding $750
p: Generally for carrying into full effect the objects for which the Institute is formed.
2: The subject-matter and syllabus of the examinations to be prescribed by the Institute shall be approved by the Minister.
3: Any fine imposed upon any member under any rule shall be a debt due from the member to the Institute, and shall be recoverable accordingly.
4: No rule or amendments to rules made under paragraphs (f) (l) (m) (p)
5: The rules of the Institute in force at the commencement of this Act, as far as they are applicable and are not inconsistent with this Act, shall continue in force as if they had been made under this section and approved by the Minister. 1963 No 135 s 35 1968 No 25 s 22 Subsection (1)(h) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words salesmen or branch managers qualified persons or salesmen salesmen, or branch managers qualified persons, or salesmen Subsection (1)(m) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words and branch managers salesmen Subsections (1)(ma) (mb) (mc) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 Subsection (1)(n) repealed 1 May 1986 110(1) Commerce Act 1986 Subsection (1)(o) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $750 $100 See Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salespersons salesmen 70(1)(h) and (m)
6: Real Estate Agents Fidelity Guarantee Fund
71: Real Estate Agents Fidelity Guarantee Fund
1: There shall continue to be a Fund known as the Real Estate Agents Fidelity Guarantee Fund.
2: The Fund shall continue to be the property of the Institute, and to be held in trust for the purposes specified in this Part of this Act.
3: The Fund shall consist of—
a: All sums paid to or on account of the Fund by real estate agents, either as annual contributions or as levies, in accordance with the provisions of this Act in that behalf:
b: The interest from time to time accruing from the investment of the Fund in accordance with section 80
c: All money recovered by or on behalf of the Institute in the exercise of any right of action conferred by this Part of this Act:
d: Any other money that may be lawfully paid into the Fund.
4: All money belonging to the Fund shall, pending its investment or application in accordance with this Part of this Act, be paid into a bank to the credit of a separate account to be called the Real Estate Agents Fidelity Guarantee Fund Account. 1963 No 135 ss 37, 38, 39
72: Audit of accounts of Fund
The accounts of the Fund shall be audited by a chartered accountant (within the meaning of section 19 Institute of Chartered Accountants of New Zealand Act 1996 or she 1963 No 135 s 41 See section 3(3) Real Estate Agents Amendment Act 1992 or she 23 March 1992 This section was amended 1 October 1996 23 Institute of Chartered Accountants Act 1996 by substituting the words chartered accountant (within the meaning of section 19 of the Institute of Chartered Accountants Act 1996 ) member of the New Zealand Society of Accountants
73: Council to administer Fund
1: Subject to section 74 High Court or she
2: For the purposes of this Part of this Act, the barrister or solicitor so appointed shall be deemed to be a member of the Council.
3: For the purposes of this Part of this Act, the quorum for meetings of the Council shall be the number of members specified in the rules of the Institute, together with the barrister or solicitor appointed under this section. 1963 No 135 s 42 See section 3(3) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 74(1) The words High Court substituted 1 April 1980 Supreme Court 12 Judicature Amendment Act 1979
74: Committee of management
1: The Council may, by resolution, delegate its powers in relation to the Fund, or any of those powers, to a committee of management consisting of not less than 3 and not more than 8 members of the Council, together with the barrister or solicitor who is a member of the Council under section 73(2)
2: Any such resolution may at any time be varied or revoked by the Council.
3: Where the Council has delegated any of its powers to a committee of management under this section, every reference in this Part of this Act to the Council shall, in relation to those powers, be deemed to include a reference to the committee of management. 1963 No 135 s 43
75: Expenditure from Fund
1: There shall from time to time be paid out of the Fund, as required—
a: The amount of all claims, including costs, allowed or established against the Fund in accordance with this Act:
b: All legal and other expenses incurred in defending claims made against the Fund, or otherwise incurred in relation to the Fund:
c: All premiums payable in respect of contracts of insurance entered into by the Council under section 86
d: All refunds made to real estate agents under section 76(3)
e: The expenses involved in the administration of the Fund, including allowances to members of the Council and to members or officers of the Institute in respect of their services, and their reasonable travelling expenses incurred in connection with the management of the Fund:
f: All other money payable in respect of any matter for which payment is required or considered necessary by the Council for the purposes of this Part of this Act or the rules made thereunder, including the cost of investigations directed by the Council.
2: While the amount of the Fund exceeds $500,000 section 80
a: The administration of any regulations for the time being in force under this Act relating to the audit of trust accounts:
b: The provision of educational programmes and other facilities for the purpose of improving the efficiency and promoting the welfare of real estate agents:
c: The administration by the Institute of the provisions of this Act, and the conduct of the affairs of the Institute to such extent and in accordance with such conditions (if any) as the Council from time to time determines. 1963 No 135 s 40 1968 No 25 s 23 Subsection (2) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $500,000 $150,000
76: Real estate agents to contribute to Fund
1: Subject to section 78 such basic contribution as may be prescribed
2: Where the applicant for a licence or the renewal of a licence is a company, the contribution of that company under subsection (1)
3: Where a real estate agent who for any year has paid the amount prescribed by this section remains in business as such for less than 3 months in that year, the Council may, out of the money received by it under subsection (1)
4: If any real estate agent commences business as such during the last 3 months of any year for which the amount prescribed by this section is payable, the Council may accept, in full satisfaction of the contribution for that year, such portion of the contribution as it thinks fit.
5: The person receiving any amounts paid to the Council under this section shall forthwith pay them into the Fund. 1963 No 135 s 44 Subsection (1) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words such basic contribution as may be prescribed the basic contribution specified in that behalf in the Schedule to this Act
77: Council may make refunds of contributions to Fund
If a claim under this Part of this Act has not been made or, if made, not sustained against a licensed real estate agent, then, on the retirement from business of that agent or on his or her or her or her or her Provided that no refund shall be made unless the amount remaining in the Fund after the refund is made will be not less than $500,000 1963 No 135 s 55 The proviso to this section was amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $500,000 $150,000 See section 3(4) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his insertion of or her him
78: Contributions to Fund while it exceeds specified amount
While the amount of the Fund (including any investments, and after deducting the amount of all unpaid claims and other liabilities outstanding against the Fund) exceeds $500,000 section 76 such amounts as may be prescribed 1963 No 135 s 45 1968 No 25 s 24 This section was amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $500,000 $150,000 amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words such amounts as may be prescribed the amounts specified in that behalf in the Schedule to this Act
79: Real estate agents may be required to pay levy
1: If at any time the Fund is not sufficient to satisfy the liabilities of the Institute in relation thereto, the Council may, by resolution, impose on every licensed real estate agent, for payment into the Fund, a levy of such amount as it thinks fit, but not exceeding the amounts specified in that behalf in the Schedule to this Act.
2: Notwithstanding subsection (1)
a: No real estate agent, being an individual, shall be required to pay by way of levy under this section, whether as the holder of a licence or as a partner of the holder of a licence, more than $100 during the whole period of his or her
b: No real estate agent, being a company, shall be required to pay by way of levy under this section more than $500 during the whole period of its carrying on business as a real estate agent.
3: The amount of every such levy shall become payable on a date and in a manner to be fixed by the Council, and, if not paid earlier shall be paid together with the next annual contribution payable to the Fund under section 76 1963 No 135 s 46 See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 79(2)(a)
80: Investment of Fund
Any money in the Fund that is not immediately required for the purposes thereof may be invested in any manner in which trustees are for the time being authorised to invest trust funds. 1963 No 135 s 47
81: Purpose of Fund
Subject to the provisions of this Part of this Act, the Fund shall be held and applied for the purpose of reimbursing persons who may suffer pecuniary loss by reason of the theft by a licensed real estate agent, or by his or her 1963 No 135 s 48(1) See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her his
82: Claims against Fund
1: Subject to this section, the Council may receive and settle any claim against the Fund at any time after the cause of the claim has arisen.
2: No person shall have any claim against the Fund—
a: In respect of any theft committed before the 1st day of February 1963; or
b: In respect of any theft committed after that date—
i: Unless written notice of the claim is given to the Council within 12 months after the claimant has become aware of the theft; and
ii: Except with leave of the Council, until the claimant has exhausted all relevant rights of action and other legal remedies available against the defaulting real estate agent or any other person in respect of the loss suffered by the claimant.
3: No person shall be entitled to recover from the Fund an amount greater than the balance of the loss suffered by him or her or her or her or her
4: No amount shall be paid or payable out of the Fund as interest on the amount of any judgment obtained or of any claim admitted against the Fund.
5: No right of action shall lie in relation to the Fund in respect of any loss suffered by any person by reason of any theft committed by a real estate agent at any time after the claimant or his or her section 74 , her,
6: No right of action shall lie in relation to the Fund in respect of any loss suffered by the spouse , civil union partner, or de facto partner
7: No action for damages shall lie against the Institute or the Council or any member or employee of the Institute or of the Council for any notification given in good faith and without malice for the purpose of subsection (5) 1963 No 135 ss 48(2), 49 See section 3(3) (4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 82(3) and (5) insertion of , her, him 82(5) Subsection (6) amended 26 April 2005 5 Real Estate Agents Amendment Act 2005 by inserting the words , civil union partner, or de facto partner spouse
83: Defences to claims against Fund
In any action brought against the Institute in relation to the Fund, all defences which would have been available to the defaulting real estate agent shall be available to the Institute. 1963 No 135 s 50
84: Subrogation of rights of action against defaulting real estate agent
1: On payment out of the Fund of any money in settlement in whole or in part of any claims under this Part of this Act, the Institute shall be subrogated, to the extent of that payment, to all rights and remedies of the claimant against the real estate agent in relation to whom the claim arose, or in the event of the death or insolvency or other disability of the real estate agent, against his or her or her
2: Notwithstanding anything to the contrary in the Companies Act 1955 or the Companies Act 1993 District Court Judge 1963 No 135 s 51 1968 No 25 s 25 See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 84(1) The words District Court Judge substituted 1 April 1980 Magistrate 18 District Courts Amendment Act 1979 Subsection (2) amended 1 July 1994 2 Company Law Reform (Transitional Provisions) Act 1994 by inserting the words or the Companies Act 1993
85: Provisions applicable if Fund insufficient to satisfy claims
1: No money or other property belonging to the Institute (other than the Fund) shall be available for the satisfaction of any judgment obtained against the Institute in relation to the Fund, or for the payment of any claim allowed by the Council; but if at any time the Fund is not sufficient to provide for the satisfaction of all such judgments and claims they shall, to the extent to which they are not so satisfied, be charged against future accumulations of the Fund.
2: The Council may, having regard to the rules set out in subsection (3)
3: Without limiting the discretion of the Council, it shall, in applying the Fund towards the settlement of any such judgments and claims, have regard to the following rules:
a: It shall take into consideration the relative degree of hardship suffered or likely to be suffered by the several claimants in the event of their claims against the Fund not being satisfied in whole or in part:
b: Claims for amounts not exceeding $1,000 shall, except in special circumstances, be satisfied in full before claims for amounts exceeding $1,000 are satisfied to a greater extent than $1,000:
c: Where all other considerations are equal, claimants shall have priority as between themselves according to the dates of the judgments or the dates when the claims were received by the Council, as the case may require. 1963 No 135 s 52
86: Council may enter into contracts of insurance
1: Notwithstanding any of the foregoing provisions of this Part of this Act, the Council may, in its discretion, enter into any contract of insurance with any person carrying on fidelity insurance business in New Zealand, whereby the Institute will be indemnified to the extent and in the manner provided by the contract against liability to pay claims under this Part of this Act.
2: Any such contract may be entered into in relation to licensed real estate agents generally, or in relation to any licensed real estate agent or agents named in the contract.
3: No action shall lie against the Institute, or against any member or employee of the Institute, or against any member or employee of the Council, for injury alleged to have been suffered by any real estate agent by reason of the publication in accordance with fact of a statement that any contract of insurance entered into under this section does or does not apply to that real estate agent.
4: If any contract of insurance is entered into in respect of any specified real estate agent or agents, the Council shall, on the application of any other real estate agent, enter into a like contract of insurance in respect of the last-mentioned real estate agent if the insurer signifies his , her, 1963 No 135 s 53 Subsection (4) amended 23 March 1992 3(12) Real Estate Agents Amendment Act 1992 by inserting the expression , her,
87: Application of insurance money
1: All money paid to the Institute in accordance with any contract of insurance entered into by the Council under section 86
2: No claimant against the Fund shall have any right of action against any person with whom any such contract of insurance was entered into, or have any right to claim any money paid by that person in accordance with the contract. 1963 No 135 s 54
88: Council may take possession of and inspect real estate agent's books and documents
1: This section applies in any case where the Council is satisfied, in respect of any real estate agent,—
a: That there is reasonable cause to believe that he or she
b: That there is reasonable cause to believe that any money or other property entrusted to the real estate agent has been stolen by his or her
c: That he or she
d: That he or she
e: That he or she
f: Where the real estate agent is a company, that the company is being wound up, whether by the Court or voluntarily or subject to the supervision of the Court; or
ff: Where the real estate agent is a building society, that the building society is being dissolved; or
g: That the licence of the real estate agent has been cancelled or that the real estate agent has been suspended; or
h: That the real estate agent has ceased to carry on business and has neglected to wind up his or her or her
2: In any case to which this section applies, the Council may, if in its opinion it is expedient to do so, take possession of any ledgers, books of account, records, deeds, or other documents belonging to the real estate agent or held in the course of his or her or her or her
3: Every person having possession or control of any such ledgers, books of account, records, deeds, or other documents who refuses or fails without lawful justification to deliver them or cause them to be delivered to the Council forthwith upon demand by the Council commits an offence and is liable to a fine not exceeding $1,500 1963 No 135 s 56(1)-(3) Subsection (1)(ff) inserted 1 September 1987 41(3) Building Societies Amendment Act 1987 Subsection (3) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $1,500 $750 See section 3(3) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 88(1) insertion of or her His his 88(1)(b) and (h) and 88(2) insertion of or her him 88(1)(h)
89: Council may inspect books relating to money received by defaulting real estate agent
1: If the Council has reason to believe that any money entrusted to a real estate agent has been stolen by him or her or her or her
2: Every person commits an offence and is liable to a fine not exceeding $1,500 1963 No 135 s 57 Subsection (2) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $1,500 $750 See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 89(1)
90: Council to give receipt for document taken into possession
1: Upon taking possession of any document under section 88
2: If any such document is the property of a firm of real estate agents in which the real estate agent is a partner, a copy of the notice shall be served on each partner in the firm.
3: Within 14 days after any such notice has been served, the real estate agent, or any of his or her District Court Judge District Court Judge 1963 No 135 s 56(4), (7) See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 90(3) The words District Court Judge substituted Magistrate 18 District Courts Amendment Act 1979
91: Appointment of authorised person to investigate affairs of real estate agents
1: For the purpose of safeguarding the Fund, the Council may at any time appoint a chartered accountant (within the meaning of section 19 Institute of Chartered Accountants of New Zealand Act 1996
2: Every appointment under this section shall be in writing and shall be signed on behalf of the Council by the Chairperson
3: Upon production by any person so appointed of his or her or she sections 88 89 Provided that he or she section 89
4: The person so appointed to make any examination of accounts for the purposes of this section shall not, otherwise than in the course of his or her or her or her
5: The Council shall consider the report in committee, but may disclose the contents to any Police employee Institute of Chartered Accountants of New Zealand
6: No member or officer of the Council shall communicate to any person any information disclosed in the report, except in the performance of his or her 1963 No 135 s 59 Subsection (1) amended 1 October 1996 23 Institute of Chartered Accountants of New Zealand Act 1996 by substituting the words chartered accountant (within the meaning of section 19 of the Institute of Chartered Accountants Act 1996 ) member of the New Zealand Society of Accountants Section 91(5) amended 1 October 2008 section 130(1) Policing Act 2008 Subsection (5) amended 1 October 1996 23 Institute of Chartered Accountants of New Zealand Act 1996 by substituting the words Institute of Chartered Accountants of New Zealand New Zealand Society of Accountants See section 3(3) (4) (7) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 91(3) insertion of or her His his 91(3), (4) and (6) substitution of Chairperson Chairman 91(2)
92: Expenses of Council in investigating affairs of real estate agent
The reasonable expenses of the Council acting in the exercise of any of the powers conferred by sections 88 89 91 1963 No 135 s 58
93: Rules for purposes of this Part of this Act
For the purposes of this Part of this Act, the Institute may from time to time make rules for all or any of the following purposes:
a: Providing for the investment of so much of the Fund as is not immediately required for the purposes thereof:
b: Prescribing the forms of notices to be given to the Council in relation to claims against the Fund, and the conditions subject to which and the extent to which the Council may settle any such claims without recourse being had to legal proceedings:
c: Prescribing the duties of an accountant appointed to conduct an examination of any accounts under section 91
d: Generally, for such other matters as may be considered necessary for the purpose of protecting the Fund, or of giving full effect to the intent of this Part of this Act. 1963 No 135 s 60
7: Disciplinary provisions
Disciplinary powers of Board
94: Grounds on which licence may be cancelled by Board
1: The Institute, the Disciplinary Committee, or any other person with leave of the Board, may at any time apply in the prescribed form to the Board for an order cancelling a real estate agent's licence, and the Board may cancel the licence, on any of the following grounds:
a: That a licensee or, in the case of a licensee company, any officer of the company, has been convicted of a crime involving dishonesty:
b: That a licensee or, in the case of a licensee company, any officer of the company, has been guilty of misconduct in the course of his or her
c: That a licensee or, in the case of a licensee company, any officer of the company, has been shown to the satisfaction of the Board to be of such a character that it is in the interests of the public that the licence be cancelled:
ca: That a licensee or, in the case of a licensee company, the chief executive officer of the company, has failed to be in effective control of any place of business in respect of which it is that person's duty to be in effective control or has failed to ensure that any branch manager
d: That a licensee or, in the case of a licensee company, any officer of the company, has been adjudicated bankrupt, or has made any assignment for the benefit of his or her or her
e: That in the case of a licensee company, the company is in receivership or in liquidation:
f: That, in the case of a licensee building society, the building society is being dissolved.
2: No licence shall be cancelled on the ground set out in subsection (1)(a) 1963 No 135 s 23 Subsection (1)(ca) inserted 10 December 1982 Real Estate Agents Amendment Act 1982 amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words branch manager qualified person in control Subsection (1)(e) amended 1 September 1987 41(3) Building Societies Amendment Act 1987 by substituting the expression winding up. winding up: substituted 1 July 1994 2 Company Law Reform (Transitional Provisions) Act 1994 Subsection (1)(f) inserted 1 September 1987 41(3) Building Societies Amendment Act 1987 See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 94(1)(b) and (d) The words High Court substituted 1 September 1980 Supreme Court 12 Judicature Amendment Act 1979
95: Board may suspend real estate agent
1: On any application under section 94(1)
2: While any order of suspension continues in force the person to whom the order relates shall not carry on the business of a real estate agent, or assist in the operation of any company that is a licensee.
3: Any person commits an offence and is liable to a fine not exceeding $2,000 subsection (2)
4: Any order of suspension made under this section may, on application to the Board by the person to whom the order relates, be varied or revoked by the Board at any time. 1963 No 135 s 23 Subsection (3) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $1,000
96: Board may impose monetary penalty
On any application made under section 94 95 $5,000 This section was amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $5,000 $500
97: Board may hold inquiry
1: Every application made to the Board under section 94 95 or she
2: The Board shall, unless it is satisfied that there is no reasonable ground for the complaint, hold an inquiry into the complaint, and shall give to the real estate agent concerned, and to the complainant, at least 14 days notice in writing of its intention to hold an inquiry, and of the time and place of the hearing, and, in the case of the real estate agent, the nature of the complaint to be inquired into.
3: The inquiry shall be conducted and the decision made by the Chairperson at least subsection (1) or she
4: At the inquiry the real estate agent and the complainant concerned shall be entitled to be present and to be heard.
5: Every complaint shall be prosecuted at the inquiry—
a: Where the Institute is the complainant, by the Institute; and
b: In every other case, by the complainant or such other person as the complainant, with the consent of the Chairperson Subsection (3) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by inserting the words at least See section 3(3) (7) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she he 97(1) and (3) substitution of Chairperson Chairman 97(3) and (4)
98: Interim suspension pending determination of complaint
1: Where an application has been made to the Board under section 94(1) 99(1) salesperson
2: The Board shall not be obliged to give any notice to the licensee, officer, salesperson
3: The Board shall notify the licensee, officer, salesperson salesperson
4: An order of suspension made under this section shall come into force when the licensee, officer, salesperson subsection (3)
a: The licence of the licensee shall cease to have effect and shall not be renewed nor a new licence granted:
b: The officer of the company shall (if applicable) cease to be eligible to apply for a licence in his or her section 17(3)
c: The certificate of approval of the salesperson or branch manager
5: The Board may at any time, on its own motion or on the application of the licensee, officer, salesperson This section was substituted 10 December 1982 Real Estate Agents Amendment Act 1982 This section was amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words salesman, or branch manager or salesman licensee Subsection (4)(c) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager the salesman See section 3(4) (9) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her His his 98(4)(b) substitution of salesperson salesman
99: Board may cancel certificate of approval or suspend salesman
1: On application made to the Board in that behalf by the Institute, the Disciplinary Committee or by any other person with leave of the Board, the Board may cancel the certificate of approval issued in respect of any person or may suspend that person for such period not exceeding 3 years as the Board thinks fit on the ground—
a: That since the issue of the certificate of approval the person has been convicted of any crime involving dishonesty; or
b: That the person has been, or has been shown to the satisfaction of the Board to be, of such a character that it is, in the opinion of the Board, in the public interest that the certificate of approval be cancelled or that person be suspended.
2: The Board shall, as soon as practicable after receiving an application under this section, send a copy of the application to the salesperson salesperson
3: The salesperson
4: The Board may, in addition to or instead of cancelling a certificate of approval or suspending the holder under this section, impose a monetary penalty upon the holder not exceeding $750 1963 No 135 s 13(8), (10) Subsections (2) (3) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager salesman Subsection (4) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $750 $200 See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 99(2) and (3)
100: Evidence of offences
1: For the purposes of this Part of this Act, a certificate containing the substance of the conviction of any person of any crime involving dishonesty, purporting to be signed by the Registrar of the Court by which the offender was convicted, shall, until the contrary is proved, be sufficient evidence of that conviction without proof of the signature or official character of the person appearing to have signed the certificate.
2: On any application under section 94 95 99 Chairperson salesperson or branch manager section 102 1963 No 135 s 24(1) Subsection (2) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager salesman See section 3(7) (9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of Chairperson Chairman 100(2) substitution of salesperson salesman 100(2) Disciplinary committee
101: Regional Disciplinary Committees
1: For the purposes of the succeeding provisions of this Part of this Act, a Regional Disciplinary Committee shall consist of—
a: A barrister or solicitor as its Chairperson:
b: Three members appointed by the Council from members of the Institute within the region for which the Committee is established:
c: One lay member (not being a real estate agent) appointed by the Minister.
2: Three members of a Regional Disciplinary Committee, including its Chairperson Section 101 substituted 10 December 1982 Real Estate Agents Amendment Act 1982 See Real Estate Agents Amendment Act 1992 23 March 1992 substitution of Chairperson Chairman 101(2)
102: Disciplinary Committee to consider complaints against real estate agents and
salespersons
1: Without limiting or derogating from any other provisions of this Act relating to offences by real estate agents or salespersons salesperson or her
2: Subject to the succeeding provisions of this Part of this Act, if, after inquiring into any such complaint, the Disciplinary Committee is satisfied that the real estate agent, or, as the case may require, the officer of the company or the salesperson or the branch manager
a: Apply to the Board under section 94 95 99 salesperson's salesperson or the branch manager
b: Order the real estate agent or the officer of the company or the salesperson $2,000
c: Censure the real estate agent or the officer of the company or the salesperson
3: 1963 No 135 s 62 Subsection (2) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or the branch manager or the salesman Subsection (2)(a) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or the branch manager or the salesman Subsection (2)(b) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $2,000 $200 Subsection (3) repealed 10 December 1982 Real Estate Agents Amendment Act 1982 See section 3(5) (9) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her him 102(1) substitution of salesperson salesman 102
103: Disciplinary Committee may delegate to subcommittee
Section 103 repealed 10 December 1982 Real Estate Agents Amendment Act 1982 General provisions relating to both Board and Disciplinary Committee
104: Immunity of witnesses, counsel, Board, and Institute
1: Witnesses and counsel shall have the same privileges and immunities in relation to complaints heard by the Board or Disciplinary Committee under this Part of this Act as they would have if the complaints were proceedings in a Court of law.
2: Neither the Board or any member of the Board, nor the Institute or any member of the Institute, nor any member of the Disciplinary Committee shall be under any criminal or civil liability in respect of anything done or omitted to be done at or for the purposes of the hearing of any complaint under this Part of this Act, unless it is proved to the satisfaction of the Court before which any proceedings are taken that the defendant in those proceedings has acted in bad faith. 1963 No 135 ss 70, 75
105: Board or Disciplinary Committee may award costs
After hearing any complaint under this Part of this Act the Board or the Disciplinary Committee may make such order as to costs as it thinks fit, including—
a: An order that costs be awarded to the licensee or officer of the company or salesperson or branch manager
b: An order that the licensee or officer of the company or salesperson or branch manager This section was amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager or salesman See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
106: Recovery of penalties and costs
Any sum ordered by the Board or the Disciplinary Committee to be paid by way of penalty, costs, or expenses shall be a debt due by the person ordered to pay it to the person to whom it is ordered to be paid, and shall be recoverable accordingly. 1963 No 135 s 66
107: Venue
The hearing of any complaint or inquiry by the Board or Disciplinary Committee under this Part of this Act shall, unless otherwise agreed between the Board or, as the case may require, Committee, and the real estate agent or officer of the company or salesperson or branch manager salesperson or branch manager This section was amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the words principal place of business registered office This section was amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager or salesman See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
108: Right of real estate agent to be heard
Except where the Board makes an order of interim suspension under section 98 salesperson or branch manager 1963 No 135 s 63 This section was amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager or salesman See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
109: Witnesses may be required to attend and give evidence
1: The Board or Disciplinary Committee may, by notice in writing signed by its respective Chairperson or her
2: The Board or Disciplinary Committee may require evidence to be given on oath, either orally or in writing, and for that purpose the Chairperson
3: Every person commits an offence who, without lawful justification, refuses or fails to attend and give evidence when required to do so by the Board or Disciplinary Committee, or to answer truly and fully any question put to him or her or her
4: Every witness giving evidence or attending to give evidence at the hearing of any complaint or inquiry by the Board or Disciplinary Committee under this Part of this Act shall be entitled to such sum for his or her or she or she District Court
5: Subject to any order as to costs made by the Board or Disciplinary Committee, all sums to which any witness is entitled under subsection (4) 1963 No 135 ss 69, 71 See section 3(3) (5) (7) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 109(4) insertion of or her His his 109(1) and (4) insertion of or her him 109(3) substitution of Chairperson Chairman 109(1) and (2) The words District Court substituted 1 April 1980 Magistrate's Court 18 District Courts Amendment Act 1979
110: Rules of procedure
The Board and the Disciplinary Committee may each from time to time make rules in respect of the making, hearing, and determination of applications and inquiries required to be made, heard, or determined by them under this Part of this Act. 1963 No 135 s 72
111: Jurisdiction of Court not limited
Except as expressly provided in this Part of this Act, nothing in this Part of this Act shall be construed to limit the jurisdiction of any Court. 1963 No 135 s 76
8: Appeals
112: Appeals to
High Court
1: In every case where the Board—
a: Refuses under section 23
b: Refuses under section 29(6)
c: Cancels a licence or suspends any person under the provisions of sections 94 95 98 section 96 the applicant or, as the case may require, the licensee or officer of a licensee company, shall have a right of appeal to the High Court
2: In every case where the Board—
a: Refuses under section 46
b: Refuses under section 48(6)
c: Cancels a certificate of approval or suspends a salesperson section 99 the applicant, licensee, salesperson High Court
3: In every case where the Board, under section 34 High Court
4:
5: Every such appeal shall be brought within 28 days after the date on which the appellant was notified of the decision appealed against, or within such further period as the Court may allow. 1963 No 135 s 77 Subsection (2) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by substituting the words salesman, or branch manager or salesman Subsection (4) repealed 15 August 1991 3(4) Judicature Amendment Act 1991 See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 112(2) The reference in the section title to High Court Administrative Division 15 August 1991 3(5) Judicature Amendment Act 1991 The words High Court substituted Supreme Court 12 Judicature Amendment Act 1979
113: Rights of licensee pending disposal of appeal in certain cases
Where a decision of the Board is to cancel any licence or refuse an application to renew any licence, that decision shall be of no effect until,—
a: Where notice of an appeal against that decision has been given within the period specified in section 112(5)
b: Where no notice of an appeal against that decision has been given within that period, that period expires.
114: Procedure on appeal
Subject to this Part of this Act, the procedure in respect of any appeal to the High Court The words High Court substituted 1 April 1980 Supreme Court 12 Judicature Amendment Act 1979
115: Hearing and determination of appeal
1: The Court may receive in evidence any statement, document, information, or matter that may in its opinion assist it to deal effectually with the matters before it, whether or not that evidence would be otherwise admissible in a Court of law.
2: The Court may, if it considers it is in the public interest, order that the hearing or any part of it shall be held in private.
3: The Court may make an order prohibiting the publication of any report or description of the proceedings or of any part of the proceedings in any appeal before it (whether heard in public or in private); but no order shall be made prohibiting the publication of the names and descriptions of the parties to the appeal, or particulars of any licence or certificate of approval affected by the appeal, or of any decision of the Court.
4: In its determination of any appeal the Court may confirm, modify, or reverse the decision appealed against, or any part of that decision, and, subject to section 117
116: Court may refer appeals back to Board
1: Notwithstanding section 115
2: In giving any direction under this section the Court shall—
a: Advise the Board of its reasons for doing so; and
b: Give to the Board such directions as it thinks just as to the reconsideration or otherwise of the whole or any part of the matter that is referred back for reconsideration.
3: The Board shall, in reconsidering any matter so referred back to it, have regard to the Court's reasons for giving a direction under subsection (1) subsection (2)
117: Appeal against decision of
High Court
1: If any party to any proceedings before the Court under this Part of this Act is dissatisfied with any determination or decision of the Court in the proceedings as being erroneous in point of law, he or she
2: Within 14 days after the date of the determination or decision of the Court, a party desiring to appeal to the Court of Appeal under this section shall file a notice of appeal with the Registrar of the High Court
3: Within 14 days after the filing of the notice of appeal, or within such further time as the Judge before whom the proceedings were heard may in his or her High Court
4: As soon as practicable after the filing of the case, the Registrar of the High Court
5: The Judge shall, as soon as practicable, and after hearing the parties if he or she High Court
6: Where since the date of the determination or decision the Judge before whom the proceedings were heard has ceased to hold office as such or died or left New Zealand, or is incapable by reason of sickness or otherwise from acting as such, the case may be submitted to any Judge of the High Court or her
7: The Registrar of the High Court
8: If within 14 days after the filing of the notice of appeal, or within such further time as may be allowed, the appellant does not file a case pursuant to subsection (3)
9: The High Court or her
10: The decision of the Court of Appeal on any appeal under this section shall be final.
11: Subject to this section, the case shall be dealt with in accordance with the rules of the Court of Appeal. See section 3(3) (5) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or she He he 117(1) and (5) insertion of or her His his 117(3) and (9) insertion of or her Him him 117(6) The reference in the section title to High Court 15 August 1991 Administrative Division 15 August 1991 3(5) Judicature Amendment Act 1991 The words High Court Judge of the High Court substituted 1 April 1980 Supreme Court Judge of the Supreme Court 12 Judicature Amendment Act 1979
118: Appeals to Board from decision of Disciplinary Committee
1: In any case where the Disciplinary Committee imposes a penalty under section 102(2)(b) salesperson or branch manager section 102(2)(c)
2: An appeal under this section shall be brought within 28 days after the date on which the appellant was notified in writing of the Disciplinary Committee's decision.
3: The Board, on the hearing of the appeal, may confirm or reverse the decision appealed against or make such other order as the case requires, or may refer the matter back, together with its reasons for doing so, to the Disciplinary Committee for reconsideration.
4: The Board's decision in respect of the appeal shall be final.
5: Subject to this section and to any regulations made under this Act, the procedure in respect of any appeal under this section shall be as determined from time to time by the Board. Subsection (1) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager or salesman See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman 118(1)
9: Miscellaneous provisions
119: General provision relating to offences
Except where this Act otherwise provides,—
a: Every person who commits an offence against this Act or against any regulations made under this Act is liable to a fine not exceeding $1,000
b: Every offence against this Act or against any regulations made under this Act shall be punishable on summary conviction before a District Court Judge 1963 No 135 s 81 Subsection 119(a) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $1,000 $500 The words District Court Judge substituted 1 April 1980 Magistrate 18 District Courts Amendment Act 1979
120: Civil remedies not affected
Nothing in this Act shall affect any civil remedy that any person may have against a real estate agent or salesperson or branch manager 1963 No 135 s 82 This section was amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the words or branch manager or salesman See section 3(9) Real Estate Agents Amendment Act 1992 23 March 1992 substitution of salesperson salesman
121: Service of notice and documents
1: Any notice or other document that under this Act may be or is required to be given to or served on any applicant for a licence, certificate of approval, or permit, may be given or served by delivering it to him or her or her or her or her or her
2: Any notice or other document that under this Act may be or is required to be given to or served on a holder of a licence, certificate of approval, or permit, may be served by delivering it to him or her or her
a: At his or her
b: In the case of a licensee, at his or her
c: In the case of an officer of a licensee company, at the registered office of the company; or
d: In the case of a salesperson or she
e: In the case of a branch manager, at the branch office.
3: Any notice or other document that under this Act may be or is required to be given to or served on the Institute shall be given or served by delivering it to the Secretary of the branch of the Institute within the district of which the sender has his or her
4: Any notice or other document that under this Act may be or is required to be given to or served on the Board shall be given or served by delivering it to the Registrar personally, or by leaving it or sending it by post in a registered letter addressed to him or her
5: Where any notice or other document is sent by post in the manner prescribed by any of the foregoing provisions of this section, it shall be deemed to have been given to or served on the addressee at the time when the letter would have been delivered in the ordinary course of the post, and, in proving service of the notice, it shall be sufficient to prove that it was duly put into the Post Office as a registered letter. Subsection (2)(d) amended 1 December 1989 Real Estate Agents Amendment Act 1989 by inserting the expression ; or Subsection (2)(e) inserted 1 December 1989 Real Estate Agents Amendment Act 1989 See section 3(3) (5) (9) 23 March 1992 insertion of or she he 121(2)(d) insertion of or her His his 121(1), (2) and (3) insertion of or her him 121(1), (2) and (4) substitution of salesperson salesman 121(2)(d)
121A: References to a company to include references to a building society
In this Act, unless the context otherwise requires, a reference to the expression company Building Societies Act 1965 Building Societies Act 1908 Section 121A inserted 1 September 1987 41(3) Building Societies Amendment Act 1987
122: Regulations
1: The Governor-General may from time to time, by Order in Council, make regulations for all or any of the following purposes:
a: Prescribing forms to be used for the purposes of this Act, and the matters to be specified in such forms:
b: Prescribing fees payable under this Act in respect of any application made under this Act, and providing for a refund of the fee or a specified part of it if the application is refused or is withdrawn:
c: Prescribing forms of advertisements and other notices under this Act:
d: Providing for an audit from time to time of the trust accounts of all real estate agents, and the manner in which and the persons or class of persons by whom that audit shall be conducted, and for a report of the result of the audit:
e: Requiring real estate agents to give such notice of the appointment of an auditor as may be prescribed:
f: Authorising the Minister of Justice and the Institute to direct an audit of a real estate agent's trust accounts at any time:
g: Requiring the production to the auditor of books, papers and accounts, subject to such conditions as are prescribed:
h: Prescribing the persons to whom the reports of auditors shall be sent for inspection, information, or record:
i: Generally to ensure that all such trust accounts shall be duly kept and audited:
j: Authorising the Secretary for Justice, following the report of any auditor or where the Minister of Justice or the Institute has directed any audit, to apply to the Board for the interim suspension of the licence of a real estate agent any of whose trust accounts is or was the subject of the audit, and empowering the Board, in its discretion, to make an order suspending the licence for such period as it thinks fit:
k: Prescribing the procedure to be followed in respect of any appeal to the Board against any decision of the Disciplinary Committee:
l: Prescribing offences in respect of the contravention of or non-compliance with any regulations made under this Act, and prescribing the amount of any fine that may be imposed in respect of such offence, being an amount not exceeding $1,000
m: Providing for such other matters as are contemplated by or necessary for giving full effect to the provisions of this Act and for its due administration.
2: Any regulations under this section prescribing the fees payable on the issue or renewal of a licence shall prescribe uniform fees in respect of both, but may prescribe—
a: Additional fees in respect of every branch office of the licensee:
b: Reduced fees in respect of licences issued after the 1st day of April in any year. 1963 No 135 s 83 1967 No 114 s 2 Subsection (1)(l) amended 10 December 1982 Real Estate Agents Amendment Act 1982 by substituting the expression $1,000 $500
123: Amendment of Schedule
The Governor-General may from time to time by Order in Council amend the amounts of any Section 123 amended 10 December 1982 Real Estate Agents Amendment Act 1982 by omitting the words contributions or
124: Transitional provisions and savings
1: Where, before the commencement of this Act, a District Court Judge District Court Judge
2: Where, before the commencement of this Act, any application has been made to a District Court Judge Real Estate Agents Act 1963 District Court Judge District Court Judge
3: For the purposes of Part 2 District Court Judge subsection (1) (2)
4: Where, as at the commencement of this Act, any person is the partner of a licensed real estate agent, that person may apply in writing to the Board for a licence on his or her
5: Notwithstanding anything to the contrary in this Act,—
a: Section 43
b: Section 54 shall not apply with respect to the business of any real estate agent who, as at the commencement of this Act, holds a current licence under the Real Estate Agents Act 1963 subsection (4) or her See section 3(4) Real Estate Agents Amendment Act 1992 23 March 1992 insertion of or her his 124(4) or her (5) The words District Court Judge substituted 1 April 1980 Magistrate 18 District Courts Amendment Act 1979
125: Repeals
The following enactments are hereby repealed:
a: The Real Estate Agents Act 1963
b: The Real Estate Agents Amendment Act 1967
c: The Real Estate Agents Amendment Act 1968