Real Estate Agents Act 2008

25 Grounds for intervention

• The grounds for exercising a power conferred by any of sections 26 to 28 in respect of any agent are—

  • (a) that there are reasonable grounds to believe that the agent, or, if the agent is a company, any officer of the company, has been guilty of theft or of any improper conduct in relation to the money or other property of any other person; or

  • (b) that there are reasonable grounds to believe that any money or other property entrusted to the agent has been stolen by his or her employee, salesperson, or person acting on behalf of the agent, or, if the agent is a company, by any officer, employee, salesperson, or person acting on behalf of the company; or

  • (c) that the agent is, owing to physical or mental disability, unable to properly administer the agent's trust account; or

  • (d) that the agent has died; or

  • (e) that the agent has been adjudicated a bankrupt or has been subject to subpart 4 of Part 5 of the Insolvency Act 2006, or has been placed in receivership or liquidation under the Companies Act 1993; or

  • (f) if the agent is a building society, that the building society is being dissolved; or

  • (g) that the licence of the agent has been cancelled or suspended; or

  • (h) that there are reasonable grounds to believe that the agent has ceased to carry on business and has neglected to wind up the agent's trust account after reasonable notice has been given to the agent by the Authority requiring the agent to do so; or

  • (i) that there are reasonable grounds to believe that the agent has not administered the trust account in accordance with this Act and any regulations made under it; or

  • (j) that there are reasonable grounds to believe that the agent operates a trust account that has been administered fraudulently or recklessly.

  Compare: 1976 No 9 s 88