Document ID: chunk:federal_register_of_legislation:F2015L01831:body:0:p3
Version: federal_register_of_legislation:F2015L01831
Segment Type: other
Provision Reference: 
Character Range: 5191–7299

company;
(C) no meeting has been called for the purpose of winding up the company; and
(iii) there are no proceedings pending in any court against the company that might prejudice or detrimentally affect it or its assets;
(f) under the terms of the draft contract the purchaser may make requisitions in relation to the vendor's title to the shares and the company's title to the property other than in respect of any matter fully disclosed and clearly described in the draft contract and identified as acceptable to the purchaser;
(g) annexed to the draft contract are copies of:
(i) the title documents in respect of the property which are current as at the date of the sale offer; and
(ii) the constitution and any other charter documents of the company which are current as at the date of the sale offer.
Real estate agents
(2) A licensed real estate agent that, in relation to an offer for sale of eligible shares in a real estate company, provides general advice to a vendor in relation to the shares or deals in the shares on behalf of a vendor, does not have to comply with the requirement in subsection 911A(1) of the Act to hold an Australian financial services licence covering the provision of those financial services provided:
           (a) the offer satisfies the requirements of subsection (1);
           (b) the agent has, before providing any of the financial services to the vendor, disclosed to the vendor the following information in writing:
              (i) the agent does not hold an Australian financial services licence;
              (ii) the relationship between the agent and the vendor is governed by the real estate licensing provisions in the relevant State or Territory.

Valuers
(3) A person that provides general advice to another person in relation to eligible shares in a real estate company does not have to comply with the requirement in subsection 911A(1) of the Act to hold an Australian financial services licence covering the provision of the advice where the advice relates to a valuation of eligible shares in the real estate company or a valuation of property.