The purpose of this Act is to promote and protect the interests of consumers in respect of transactions that relate to real estate and to promote public confidence in the performance of real estate agency work.

The Act achieves its purpose by—

In this Act, unless the context otherwise requires,—

To avoid doubt, the sale, purchase, or other disposal or acquisition of shares comes within the definition of transaction in subsection (1) if, and only if, the shares entitle the holder to a licence that is registrable under Part 7A of the Land Transfer Act 1952.

This Act binds the Crown.

A person must not carry out any real estate agency work unless the person—

No person may hold himself or herself out to the public as ready to carry out any agency work if that person is not licensed under this Act or exempt from the licensing requirement under any of sections 7 to 9 or under another enactment.

For the purposes of this section, it is immaterial whether or not a person carries out any agency work as a business in its own right or as part of, or in connection with, any other business.

This section applies to any person who is—

A person to whom this section applies may carry out any real estate agency work 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.

When any person to whom this section applies carries out any real estate agency work, that person—

A person who is registered as an auctioneer under the Auctioneers Act 2013 may sell or offer to sell any land by auction.

A person who is exempted by a regulation made under section 156(1)(a) may, in accordance with that regulation, carry out real estate agency work.

This section establishes the Real Estate Agents Authority.

The Authority is a Crown entity for the purposes of section 7 of the Crown Entities Act 2004.

The Crown Entities Act 2004 applies to the Authority except to the extent that this Act expressly provides otherwise.

The functions of the Authority are to—

The Authority may, where it considers it appropriate to do so, consult with representatives of the real estate industry about any matter that relates to the functions of the Authority.

For the avoidance of doubt, nothing in subsection (1) affects the role of an industry training organisation for the time being recognised under the Industry Training and Apprenticeships Act 1992 as an industry training organisation for the real estate industry.

The Authority consists of no more than 7 members.

Members of the Authority are the board for the purposes of the Crown Entities Act 2004.

The Minister must appoint 1 member to be the chairperson of the board and that member must be a lawyer of not less than 7 years’ legal experience.

The Minister must appoint at least 2 members who are licensees or former licensees.

The Minister must consult with REINZ when making the first appointment of licensees or former licensees under subsection (4).

In addition to the criteria for appointments set out in section 29 of the Crown Entities Act 2004, the Minister must, when making any appointment, consider the need for the Authority to represent the views of a broad range of interests, including consumer and industry interests.

The Authority may, by notice in the Gazette, make any practice rules to enable it to discharge the duty imposed on it by subsection (2).

The Authority must have rules that include or provide for a code of professional conduct and client care, which will be a reference point for discipline and which will focus on, but need not be limited to, the duties of agents to their clients.

The Authority may, by notice in the Gazette, make practice rules that—

Practice rules are made by the Authority with the approval of the Minister and after consultation with—

The Minister must, in deciding whether to approve any practice rules, have regard, among other things, to—

If the Minister considers any practice rules to be deficient in any respect, the Minister may, by notice in the Gazette and subject to subsections (2) and (3), make any amendments to those rules that are necessary to remedy the deficiency.

Amendments made under subsection (1) to practice rules may relate only to matters in respect of which practice rules may be made.

The Minister, in deciding whether to make amendments under subsection (1) to any practice rules,—

Every notice under section 14, 15, or 18 comes into force on a date specified in the notice, being not less than 28 days after the date of publication of the notice in the Gazette.

A notice under section 14, 15, or 18 is a legislative instrument and a disallowable instrument for the purposes of the Legislation Act 2012 and must be presented to the House of Representatives under section 41 of that Act.

The Authority must ensure that an up-to-date version of each notice that the Authority has published under either of section 14, 15, or 18 is—

The Authority may from time to time, by notice in the Gazette, prescribe the fees payable for any action that a person wishes the Registrar to perform under this Act.

Different fees may be prescribed under this section for different kinds of action and for different classes of person, depending on the kind of licence that they have, or wish to obtain or renew.

Any notice prescribing any fee under this section may exempt any class or classes of person from liability to pay any such fee, and may provide for the waiver or refund of any such fee.

The Authority may from time to time, by notice in the Gazette, impose on every licensee an operational levy of any amount that the Authority thinks fit for the purpose of funding the costs arising from any or all of the following:

Any notice imposing any levy under this section may do either or both of the following:

The Authority may from time to time, by notice in the Gazette, impose on every licensee a disciplinary levy of any amount that the Authority thinks fit for the purpose of funding the costs arising from any proceeding of the Tribunal.

Any notice imposing any levy under this section may do either or both of the following:

Every notice under any of sections 20 to 22 comes into force on a date specified in the notice, being not less than 28 days after the date of publication of the notice in the Gazette.

A notice under any of sections 20 to 22 is a legislative instrument and a disallowable instrument for the purposes of the Legislation Act 2012 and must be presented to the House of Representatives under section 41 of that Act.

The Authority must ensure that an up-to-date version of each notice that the authority has published under any of sections 20 to 22 is—

Every levy imposed by the Authority under sections 20 to 22, is payable, and recoverable as a debt due, to the Authority.

The Authority receives any levies imposed under section 22 as agent for the chief executive of the Ministry of Justice.

If any fee is payable to the Authority under this Act, the Registrar may decline to do any act, or to permit any act to be done, or to receive any document in respect of which that fee is payable, until the fee is paid.

All fees and levies required to be paid under this Act are payable to the Registrar or the Authority.

All fines imposed on a person by a Complaints Assessment Committee or by the Disciplinary Tribunal are payable to the Registrar.

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

In this section, documents includes financial records and deeds.

If the Authority is satisfied that 1 or more of the grounds specified in section 25 apply to an agent, the Authority may, if in its opinion it is appropriate to do so, by notice, require any person to give the Authority possession of any documents that—

If the Authority is satisfied that 1 or more grounds specified in section 25 apply to an agent, the Authority may, if in its opinion it is appropriate to do so, make an order appointing a suitable person as the administrator of the agent’s trust account for a period specified by the Authority.

A copy of every order made by the Authority under this section must be served on the banker, and on receipt of that copy the bank in which the trust account is kept must allow the person appointed by the order to administer the trust account.

The Authority may make an order appointing an appropriate person as an interim administrator of an agent’s trust account if the Authority—

The function of the interim administrator is to preserve the assets until the termination of the order under subsection (1).

An order under subsection (1) is terminated when—

Section 27(2) applies, with all necessary modifications, to an order made under this section.

The Authority may direct an audit of an agent’s trust account at any time and appoint an auditor to carry out that audit.

No person is qualified for appointment as an auditor of the trust account unless the person is a qualified auditor (within the meaning of section 35 of the Financial Reporting Act 2013).

This section applies if the Authority has reasonable grounds to believe that any money entrusted to an agent or to any person acting on behalf of the agent has been stolen by any of the following persons:

The Authority may, by notice, require any person (including, without limitation, any banker) who has possession or control of financial records or other records that relate to any money received by any person specified in subsection (1) to produce those records to a person authorised by the Authority and to permit that person to inspect and copy those records.

Upon taking possession of any document under section 26, the Authority must, without delay, serve on the agent concerned a notice giving particulars of the document and the date on which it was taken into the Authority’s possession.

Within 14 days after the notice has been served, the agent, or any of his or her partners, may apply to a District Court Judge for an order directing the Authority to return any document specified in the order to the person from whom it was received, or for any other order that the District Court Judge thinks fit.

If the Authority makes an order, under section 27 or 28, appointing an administrator or interim administrator, the Authority must, without delay, serve a copy of the order on—

A person on whom a copy of the order is served may, within 14 days after service of the order, apply to the High Court for an order under subsection (4).

The following persons may, at any time while an order under section 27 or 28 is in force, apply for an order under subsection (4):

On an application under this section, a High Court Judge may, by order—

The Authority must appoint one of its employees as Registrar of the register of licensees.

The functions of the Registrar are to—

Except as provided in subsection (2), the Registrar may delegate to any person (whether an employee of the State services or not), either generally or particularly, any of the Registrar’s functions, duties, and powers.

The Registrar must not delegate the Registrar’s general power of delegation and must not, without the prior approval of the Authority, delegate any of the Registrar’s functions, duties, and powers set out in section 34(b) or (c).

A delegation—

A person to whom any functions, duties, or powers are delegated may perform those functions and duties and exercise those powers in the same manner and with the same effect as if they had been conferred directly by this Act and not by delegation.

A person who appears to act under a delegation is presumed to be acting in accordance with its terms in the absence of evidence to the contrary.

An individual may be licensed as an agent or branch manager if the individual satisfies the Registrar that he or she—

An individual may be licensed as a salesperson if the individual satisfies the Registrar that he or she—

A company may be licensed as an agent if at least 1 officer of the company satisfies the Registrar of the matters set out in subsection (1).

The following persons are not eligible to hold a licence:

A person is not eligible to hold an agent’s licence if he or she is an undischarged bankrupt or is subject to subpart 4 of Part 5 of the Insolvency Act 2006.

An application for a licence under this Part must—

The applicant must advertise the application for a licence in the prescribed manner.

A person may, within the prescribed time and in the prescribed manner, give the Registrar written notice of his or her desire to object to the issue of a licence to the applicant.

No objection may be made under subsection (1) except on 1 or more of the following grounds:

The notice of objection must include a statement of the grounds relied on and any prescribed matters.

The notice of objection may include a request for a hearing under section 42(4).

The Registrar must send a copy of the notice to the applicant.

An applicant to whom a notice of objection has been sent may, within the prescribed time, send to the Registrar a written submission in response to the notice of objection.

If an applicant sends a written response to the Registrar, the Registrar must send a copy of it to the person who gave notice of an objection.

A written response to the Registrar may include a request for a hearing under section 42(4).

This section applies if notice of an objection to an application is made under section 40.

Unless subsection (4) applies, the Registrar may consider the application and notice of objection to that application on the papers or by a hearing in accordance with subsection (5).

If the Registrar considers the application and notice of objection to that application on the papers, he or she must consider any written submission in response that is provided by the applicant under section 41.

If the Registrar has received a request for a hearing under section 40(3A) or 41(3), the Registrar must hold a hearing in accordance with subsection (5).

If the Registrar elects to hold a hearing under subsection (2) or is required to hold a hearing under subsection (4), the Registrar must,—

The Registrar must grant a licence to the applicant if, after considering or hearing any objection to the issue of a licence, the Registrar is satisfied that—

The Registrar, on granting the licence, must—

If the Registrar is not satisfied that the applicant is entitled to be licensed as an agent, branch manager, or salesperson, the Registrar must—

A person must not, after the issue to him or her of an agent’s licence, enter into partnership with any person in respect of his or her business as an agent without the prior approval of the Authority; and the Authority must refuse to grant its approval unless it is satisfied that the proposed partner holds an agent’s licence.

If a company is the holder of an agent’s licence, at least 1 officer of the company must, at any given time, hold an agent’s licence.

A licensee must, if asked by any person, produce for inspection by that person either—

A licence continues in force for a period of 12 months commencing on the date that the Registrar enters the applicant’s name in the register, unless—

A licence may be renewed for further periods of 12 months in accordance with section 52.

A licence may not be transferred and may not vest by operation of law in any person other than the person to whom the licence was granted.

An agent’s licence authorises the licensee to carry out real estate agency work on his or her own account, whether in partnership or otherwise.

An agent’s licence authorises the licensee to sell or offer to sell land by auction, and operates as an exemption from the requirement in the Auctioneers Act 2013 to be registered as an auctioneer.

However, every licensee who conducts an auction of land must comply with the rules about the conduct of auctions set out in sections 36Y to 36ZE (but not the rule in section 36ZF) of the Fair Trading Act 1986.

A branch manager’s licence or a salesperson’s licence authorises the licensee to carry out real estate agency work for or on behalf of an agent.

The licence also authorises the licensee to sell or to offer to sell, on behalf of the agent, any land by auction without having to be licensed under the Auctioneers Act 1928.

A salesperson must, in carrying out any agency work, be properly supervised and managed by an agent or a branch manager.

In this section properly supervised and managed means that the agency work is carried out under such direction and control of either a branch manager or an agent as is sufficient to ensure—

A salesperson may be employed by an agent as an employee or may be engaged by an agent as an independent contractor.

Any written agreement between an agent and a salesperson is conclusive so far as it expressly states that the relationship between the agent and the salesperson is that of employer and independent contractor.

An agent who engages a salesperson as an independent contractor is liable for the acts and omissions of the salesperson in the same manner, and to the same extent, as if the agent had employed the salesperson as an employee.

An application for renewal of a licence must, before the date on which the licence expires,—

Subject to subsection (3), sections 36, 37, and 43 apply, with any necessary modifications, to an application for renewal of a licence.

The Registrar must, in addition to the matters specified in section 43(1), be satisfied that the applicant for renewal of a licence has completed any continuing education required by practice rules made by the Authority pursuant to section 15.

If an application for renewal of a licence has been made but not determined before the date on which the licence is due to expire, the licence continues in force until the application is determined.

The grant of a renewal of a licence takes effect from the date of expiry of the previous licence.

If no application for the renewal of a licence is made on or before the date on which the licence would otherwise expire, the Registrar must record the expiry of the licence in the register as soon as practicable after that date.

The Registrar must cancel a person’s licence and remove that person’s name from the register,—

The process for cancellation of a licence, other than by determination of the Tribunal under section 110 or at the request of the licensee under section 54(b), is as follows:

If the Registrar decides to cancel the licence, the Registrar must—

The cancellation takes effect on the date specified by the Registrar in the notice given to the licensee under section 55(1)(d), which must be a date after the date of that notice.

The Registrar must, on receiving notice from the Tribunal that the licence of a licensee has been suspended under section 110(2)(c) or 115, record that suspension on the register for the period specified in the notice.

A licensee may, by written notice to the Registrar, request that the Registrar suspend his or her or its licence for a period specified in the notice.

The Registrar must suspend the person’s licence and record the suspension in the register for that specified period.

A person whose licence is suspended under this section may, by written notice to the Registrar, request that the Registrar revive that person’s licence.

The Registrar must then revive that person’s licence unless there is some other ground for cancellation or suspension of that person’s licence under section 54, 110(2)(c), or 115.

A person is not a licensed agent, branch manager, or salesperson for the purposes of this Act for the period during which his or her licence is suspended.

At the end of the period of suspension the person’s licence is immediately revived unless there is some other ground for cancellation or suspension of that person’s licence under section 54, 110(2)(c), or 115.

The suspension of a licence under section 110(2)(c) or 115 takes effect on the date notified in the Tribunal’s decision communicated under section 113 or 115.

The suspension of a licence under section 58 takes effect on the date the suspension is recorded in the register.

A licensee may, by written notice to the Registrar, surrender his or her licence.

A written notice under subsection (1) must be accompanied by the licence.

The Registrar must cancel the person’s licence and record the cancellation in the register.

The cancellation takes effect on the date the cancellation is recorded in the register.

The surrender of a licence under this section does not affect the licensee’s liability—

A reference in this section to a licensee is a reference to a licensee who is an agent.

Any of the following persons may apply to the Registrar in the prescribed form for permission to carry on or appoint some other person to carry on the licensee’s business as an agent for a period specified by the Registrar:

If, under subsection (2), a person mentioned in that subsection has applied to the Registrar for permission to carry on or to appoint some other person to carry on a licensee’s business, then, until the application has been determined, the Registrar may, in writing, authorise the applicant to carry on the licensee’s business, either personally or by an agent, for any period not exceeding 2 months.

Despite subsection (3), an authority given under that subsection in any event ceases to have effect when the application for the Registrar’s permission under subsection (2) is determined.

The Registrar must establish, keep, and maintain, in accordance with this Act, a register of licensees.

The Registrar must enter in the register—

The Registrar must make any other entries in the register that may be required, permitted, or directed to be entered by or under this Act or the regulations.

The purpose of the register is—

The register may be kept—

The register must be operated at all times, unless the Registrar suspends the operation of the register, in whole or in part, in accordance with subsection (3).

The Registrar may refuse access to the register or otherwise suspend the operation of the register, in whole or in part, if the Registrar considers that it is not practicable to provide access to the register.

The register must contain all of the following information for each licensee whose name is entered in the register:

The register must also show—

Each applicant for a licence, and each licensee, must give written notice to the Registrar of any change in circumstances within 10 working days after the change.

In this section, change of circumstances means—

The Registrar may at any time make any amendments to the register that are necessary to—

A person may search the register, on payment of the prescribed fee (if any), for a purpose set out in section 64.

The Registrar must make the register available for public inspection—

The Registrar must supply copies of all or part of the register on request and on payment of a reasonable charge for the production of the copy if the provision of those copies is consistent with the register’s purposes.

A person who searches the register for a purpose that is not a purpose set out in section 64 must be treated, for the purposes of Part 8 of the Privacy Act 1993, as if that person has breached an information privacy principle under section 66(1)(a)(i) of that Act.

In this Part, unless the context otherwise requires, licensee has the meaning given to it by section 4 and includes—

For the purposes of this Act, a licensee is guilty of unsatisfactory conduct if the licensee carries out real estate agency work that—

For the purposes of this Act, a licensee is guilty of misconduct if the licensee’s conduct—

Any person may, in accordance with regulations made under this Act, complain in writing to the Authority about the conduct of a licensee.

When the Authority receives a complaint under this section, the Authority must refer the complaint to a Committee and notify the person complained about of the reference.

The Authority must appoint as many Complaints Assessment Committees as, in its opinion, are required to deal effectively with complaints and allegations about licensees.

Each Committee consists of 3 members appointed from the panel maintained under section 76.

One of the members of each Committee must be a lawyer of not less than 7 years’ legal experience.

The Authority must designate one of the members as the chairperson of the Committee, and another member as the deputy chairperson.

The Authority must maintain a panel of up to 20 persons who are suitable to serve as members of Complaints Assessment Committees.

In considering the suitability of any person for inclusion on the panel, the Authority must have regard not only to the person’s personal attributes but also to the person’s knowledge and experience of matters likely to come before a Committee.

The knowledge and experience referred to in subsection (2) includes, without limitation, experience and knowledge of—

The name of a person must be removed from the panel when 5 years have elapsed since the Authority approved the inclusion of the person’s name on the panel or if the person resigns from the panel.

If subsection (4) applies, the name of the person must not be removed from the panel until any current matters that the person is considering as a member of a Committee have been disposed of by the Committee.

For the purposes of considering any matter before it, each Committee consists of—

The functions of each Committee are—

As soon as practicable after receiving a complaint concerning a licensee, a Committee must consider the complaint and determine whether to inquire into it.

The Committee may—

A Committee may, in its discretion, decide to take no action or, as the case may require, no further action on any complaint if, in the opinion of the Committee,—

Despite anything in subsection (1), the Committee may, in its discretion, decide not to take any further action on a complaint if, in the course of the investigation of the complaint, it appears to the Committee that, having regard to all the circumstances of the case, any further action is unnecessary or inappropriate.

In any case where a Committee decides to take no action on a complaint, the Committee must promptly give written notice of that decision to—

The notice must—

If a Committee decides to inquire into a complaint or into matters raised by allegations about a licensee, it must inquire into the complaint or those matters as soon as practicable.

The Committee may authorise any person to assist it with its inquiry.

A Committee—

A Committee must exercise its powers and perform its duties and functions in a way that is consistent with the rules of natural justice.

The Committee may, subject to subsection (1), direct such publication of its decisions under sections 80, 89, and 93 as it considers necessary or desirable in the public interest.

The Committee may regulate its procedure in any manner that it thinks fit as long as it is consistent with this Act and any regulations made under it.

If the conditions stated in subsection (2) are satisfied, a Committee may, by notice in writing, require any person to produce to the Committee any papers, documents, records, or things.

The conditions referred to in subsection (1) are that—

A person who receives a notice under section 85 must, without charge, comply with the requirement stated in the notice in the manner and within the period (being not less than 10 working days after the notice is given to the person) specified in the notice.

Subsection (1) does not require a person to provide any information or produce any document that would be privileged in a court of law.

No person is required to produce to the Committee any papers, records, documents, or things if compliance with that requirement would be in breach of an obligation of secrecy or non-disclosure imposed on the person by an enactment (other than this Act, the Official Information Act 1982, or the Privacy Act 1993).

A Committee may give, in relation to any complaint received by it, a direction that, within a time or before a date fixed by the Committee, the parties both—

The Committee must not give a direction under subsection (1) if it considers that such a direction—

If the parties reach an agreed settlement in relation to the complaint or any issue involved in the complaint, the Committee—

No evidence is admissible in any court or before any person acting judicially or before the Committee or before the Disciplinary Tribunal of any information, statement, or admission disclosed or made to any person in the course of any negotiation, conciliation, or mediation conducted, in accordance with a direction given under subsection (1), for the purpose of resolving a complaint or any issue involved in a complaint.

Nothing in this section prevents the discovery or affects the admissibility of any evidence (being evidence which is otherwise discoverable or admissible and which existed independently of any negotiation, conciliation, or mediation conducted under a direction given under subsection (1) for the purpose of resolving a complaint or any issue involved in a complaint) merely because the evidence was presented in the course of the negotiation, conciliation, or mediation.

A Committee may receive in evidence any statement, document, information, or matter that may in its opinion assist it to deal effectively with the matters before it, whether or not the statement, document, information, or matter would be admissible in a court of law.

The Committee may take evidence on oath, and for that purpose, any member or officer of the Committee may administer an oath.

The Committee may permit a person appearing as a witness before it to give evidence by tendering a written statement and, if the Committee thinks fit, verifying that statement by oath.

The Evidence Act 2006 applies (subject to subsections (1) to (3)) to the Committee in the same manner as if it were a court within the meaning of that Act.

This section is subject to sections 84(1) and 87(4).

A Committee may make 1 or more of the determinations described in subsection (2) after both inquiring into a complaint or allegation and conducting a hearing with regard to that complaint or allegation.

The determinations that the Committee may make are as follows:

Nothing in this section limits the power of the Committee to make, at any time, a decision under section 80 with regard to a complaint.

A hearing conducted under section 89(1) by a Committee is to be a hearing on the papers, unless the Committee otherwise directs.

If the Committee conducts the hearing on the papers, the Committee must make its determination on the basis of the written material before it.

Consideration of the written material may be undertaken in whatever manner the Committee thinks fit.

If a Committee makes a determination that the complaint or allegation be determined by the Disciplinary Tribunal, the Committee must—

If, under section 91(a), a Committee lays before the Disciplinary Tribunal a charge against a licensee, the Committee may apply to the Tribunal for an order that, pending the determination of the charge, the licence of the licensee be suspended.

If a Committee makes a determination under section 89(2)(b), the Committee may do 1 or more of the following:

An order under this section may be made on and subject to any terms and conditions that the Committee thinks fit.

When a Committee makes a determination under section 89, the Committee must promptly give written notice of that determination to the complainant and to the licensee.

The notice must—

A person who is a member of a Committee or any person authorised by a Committee to assist it with any investigation or proceeding is not under any civil or criminal liability in respect of—

Subsection (1) does not apply if the person acts in bad faith.

Every person has the same privileges and immunities as a witness has in a court of law in relation to—

Every counsel appearing before a Committee has the same privileges and immunities as counsel in a court of law.

An order made by a Committee may be enforced in all respects as if it were an order of the District Court on the filing of a sealed copy in that court.

If money payable by a person under an order by a Committee or by the Disciplinary Tribunal remains unpaid for 60 days or longer after the date of the order, the Committee may suspend the person’s licence until the person pays the money and, if he or she does not do so within 12 months, cancel his or her licence and direct the Registrar to remove the person’s name from the register.

This section establishes a body to be known as the Real Estate Agents Disciplinary Tribunal.

The Tribunal consists of—

The members of the Tribunal are appointed by the Minister.

The Minister must consult with REINZ when making the first appointment of a licensee under subsection (2)(b).

The Minister must designate one of the members referred to in subsection (2)(b) as the deputy chairperson of the Tribunal.

For the purposes of each hearing, the Tribunal consists of—

The functions of the Tribunal are—

The Ministry of Justice must furnish such secretarial, recording, and clerical services as may be necessary to enable the Tribunal to discharge its functions.

The provisions of Schedule 1 have effect in relation to the Tribunal and its proceedings.

The Tribunal may regulate its procedures as it thinks fit.

Subsection (1) is subject to the rules of natural justice and to this Act and any regulations made under this Act.

Every person whose rights may be affected by a proceeding of the Disciplinary Tribunal (other than a review under section 112) is entitled to appear and be heard at the hearing of that proceeding and to be represented by counsel or otherwise.

A charge made by the Committee against a licensee is, at the hearing, to be prosecuted by the Committee, which, for that purpose, may be represented by counsel or otherwise.

Every hearing of the Disciplinary Tribunal must be held in public.

Subsection (1)—

If the Disciplinary Tribunal is of the opinion that it is proper to do so, having regard to the interest of any person (including (without limitation) the privacy of the complainant (if any)) and to the public interest, it may hold a hearing or part of a hearing in private.

The Disciplinary Tribunal may, in any case, deliberate in private on its decision or on any question arising in the course of a hearing.

If the Disciplinary Tribunal is of the opinion that it is proper to do so, having regard to the interest of any person (including (without limitation) the privacy of the complainant (if any)) and to the public interest, it may make 1 or more of the following orders:

Unless it is reversed or modified in respect of its currency by the High Court on appeal under section 116, an order made under subsection (1) continues in force as specified in the order, or, if no time is specified, until the Disciplinary Tribunal, in its discretion, revokes it on the application of any party to the proceedings in which the order was made or of any other person.

Subsection (1)(c) does not apply to any communications between the Disciplinary Tribunal and the Authority.

Subject to section 105, the Disciplinary Tribunal may receive as evidence any statement, document, information, or matter that may, in its opinion, assist it to deal effectively with the matters before it, whether or not that statement, document, information, or matter would be admissible in a court of law.

The Disciplinary Tribunal may take evidence on oath and, for that purpose, any member of the Disciplinary Tribunal may administer an oath.

The Disciplinary Tribunal may permit a person appearing as a witness before it to give evidence by tendering a written statement and verifying that statement by oath.

Subject to subsections (1) to (3), the Evidence Act 2006 applies to the Disciplinary Tribunal in the same manner as if the Disciplinary Tribunal were a court within the meaning of that Act.

A hearing before the Disciplinary Tribunal is a judicial proceeding within the meaning of section 108 of the Crimes Act 1961 (which relates to perjury).

If the Disciplinary Tribunal, after hearing any charge against a licensee, is satisfied that it has been proved on the balance of probabilities that the licensee has been guilty of misconduct, it may, if it thinks fit, make 1 or more of the orders specified in subsection (2).

The orders are as follows:

The making of an order under this section for the payment of compensation to any person does not affect the right (if any) of that person to recover damages in respect of the same loss, but any sum ordered to be paid under this section, and the effect of any order made under this section for the reduction, cancellation, or refund of fees, must be taken into account in assessing any such damages.

If the Disciplinary Tribunal, after hearing any charge against a licensee, is satisfied that the licensee, although not guilty of misconduct, has engaged in unsatisfactory conduct, the Tribunal may make any of the orders that a Complaints Assessment Committee may make under section 93.

A person affected by a determination of a Committee may appeal to the Tribunal against a determination of the Committee within 20 working days after the date of the notice given under section 81 or 94.

The appeal is by way of written notice to the Tribunal of the appellant’s intention to appeal, accompanied by—

The appeal is by way of rehearing.

After considering the appeal, the Tribunal may confirm, reverse, or modify the determination of the Committee.

If the Tribunal reverses or modifies a determination of the Committee, it may exercise any of the powers that the Committee could have exercised.

An applicant may apply to the Tribunal against a determination of the Registrar that adversely affects the applicant within 20 working days after the date the applicant is notified of the determination.

The application must be made by way of written notice to the Tribunal of the applicant’s intention to apply, accompanied by—

The review must be conducted on the papers unless the applicant requests to be heard in his or her application.

After conducting the review, the Tribunal may confirm, reverse, or modify the decision of the Registrar.

If the Tribunal reverses or modifies a determination of the Registrar, it may exercise any of the powers that the Registrar could have exercised.

When the Tribunal determines a matter in a proceeding, the Tribunal must notify every person involved in the proceeding, the Authority, and the Registrar of the determination in writing, setting out the reasons for the decision and the right of appeal to the High Court.

Any order made by the Tribunal under section 110 may be enforced in all respects as if it were an order of the District Court on the filing of a sealed copy in that court.

The Tribunal may suspend the licence of a licensee where—

The process for suspending a licence under this section is as follows:

If the Tribunal decides to suspend the licence, the Tribunal must give the licensee and the Registrar written notice of its decision and—

A person who is affected by a decision of the Tribunal may appeal to the High Court against the decision.

At any time before the final determination of an appeal, the High Court may make an interim order allowing an appellant who is a licensee to carry out real estate agency work until the close of the day on which the High Court finally determines the appeal.

An interim order may be subject to any conditions that the High Court thinks fit.

If an interim order is made allowing a licensee to engage in agency work,—

To enable the Registrar to fulfil the duties imposed by this section, the Registrar of the court in which the interim order is made must send a copy of the order to the Registrar as soon as practicable.

The High Court’s decision in the determination of an appeal is final.

This section is subject to the right of a party to appeal to the Court of Appeal on a question of law under section 120.

If dissatisfied with a decision of the High Court on the ground that it is erroneous in law, a party to an appeal under this Part may appeal to the Court of Appeal on a question of law only.

The appeal must be heard and determined in accordance with the rules of court.

The decision of the Court of Appeal on any appeal under this section is final.

In this section,—

Every agent must ensure that the required name information is displayed in a prominent place—

The required name information must be capable of being easily read from outside each office or shop maintained by the agent for the purposes of the business.

All money received by an agent in respect of any transaction in his or her capacity as an agent must be paid to the person lawfully entitled to that money or in accordance with that person’s directions.

Despite subsection (1), if an agent is in doubt on reasonable grounds as to the person who is lawfully entitled to the money, he or she must take all reasonable steps to ascertain as soon as practicable the person who is entitled and may retain the money in his or her trust account until that person has been ascertained.

Pending the payment of any such money, the money must be paid by the agent into a general or separate trust account at any bank carrying on business in New Zealand under the authority of any Act and may not be drawn upon except for the purpose of paying it to the person entitled or as that person may in writing direct.

No money to which this section applies is available for payment of the agent’s debts, nor may it be attached or taken in execution under the order or process of any court at the instance of any of the agent’s creditors.

Nothing in this section takes away or affects any just lien or claim that an agent who holds money to which this section applies has against the money.

When an agent receives any money in respect of any transaction in his or her capacity as an agent, he or she must not pay that money to any person for a period of 10 working days after the date on which he or she received it.

Despite subsection (1), a court order or an authority signed by all the parties to the transaction may require the agent to pay the money before the expiry of the period specified in that subsection.

If at any time while holding any money on behalf of any party to the transaction, the agent receives written notice of any requisitions or objections in respect of the title to any land affected by the transaction, the agent must not at any time pay that money to any person except in accordance with a court order or an authority signed by all the parties to the transaction.

As soon as an agent is asked by his or her client to do so, and in any case not later than 28 days after the agent receives any money in respect of the transaction in his or her capacity as an agent, the agent must render to the person lawfully entitled to the money an account in writing, setting out particulars of all such money, and its application.

If an agent is in doubt on reasonable grounds as to the person who is lawfully entitled to any money, the agent must take all reasonable steps to ascertain as soon as practicable the person who is entitled and is not required to render an account under this section until the person lawfully entitled has been ascertained.

Every general or separate trust account of an agent must be audited at the times and in the manner prescribed by regulations made under this Act.

All information obtained by an auditor in the course of the audit of any trust account under this Act must be treated as confidential.

Subsection (2) is subject to any rights of disclosure that may be prescribed for the purposes of the audit.

An agent is not entitled to any commission or expenses from a client for or in connection with any real estate agency work carried out by the agent for the client unless—

A court before which proceedings are taken by an agent for the recovery of any commission or expenses from a client may order that the commission or expenses concerned are wholly or partly recoverable despite a failure by the agent to give a copy of the relevant agency agreement to the client within 48 hours after it was signed by or on behalf of the client.

A court may not make an order described in subsection (2) unless satisfied that—

This section overrides subpart 5 of Part 2 of the Contract and Commercial Law Act 2017.

An agent must not enter into an agency agreement with a person for the sale of residential property unless the agent or a licensee on the agent’s behalf—

In this section—

A contravention of this section does not affect the validity of the agency agreement.

An agent is not entitled to any expenses from a client for or in connection with any real estate agency work carried out by the agent for the client in connection with a transaction unless the agency agreement under which the agent performs that work contains a statement that—

This section does not limit the liability of any person under the Secret Commissions Act 1910.

Regulations under section 156 may provide for 1 or more of the following:

A client who is party to a sole agency agreement with an agent may, by 5 pm on the first working day after the day on which a copy of the agreement is given to the client under section 126(1)(c), cancel the agreement by written notice to the agent.

A notice under subsection (1) may be served by fax or email.

Subsection (1) has effect despite any provision to the contrary in any agreement.

Even though a sole agency agreement has been cancelled, an agent may rely on that agreement if, before that cancellation,—

Any party to a sole agency agreement that relates to residential property and is for a term longer than 90 days may, at any time after the expiry of the period of 90 days after the agreement is signed, cancel the agreement by written notice to the other party or parties.

If the parties to a sole agency agreement to which subsection (1) relates agree in writing to renew the sole agency agreement, the signing of the renewal agreement is, for the purposes of that subsection, taken to be the signing of a new sole agency agreement.

For the purposes of subsection (1), a sole agency agreement is signed when it is signed by or on behalf of the client or, if there is more than 1 client, when the agreement is signed by the last client.

A notice under subsection (1) may be served by fax or email.

This section has effect despite any provision to the contrary in any agreement.

In this section, residential property does not include any property that—

As soon as practicable after a person signs a contractual document and gives that document to a licensee carrying out real estate agency work in connection with the document, the licensee must give the person an accurate copy of the document.

An agent must ensure that subsection (2) is complied with before a person signs a contractual document if the contractual document—

The agent or a licensee on the agent’s behalf must have—

In this section—

A contravention of this section does not affect the validity of any contract.

No licensee may, without the consent of the client for whom he or she carries out real estate agency work in respect of a transaction, directly or indirectly, whether by himself or herself or through any partner, sub-agent, or nominee, acquire the land or business to which the transaction relates or any legal or beneficial interest in that land or business.

No licensee may, without the consent of the client, carry out or continue to carry out any agency work in respect of a transaction if the licensee knows or should know that the transaction will, or is likely to, result in a person related to the licensee acquiring the land or business to which the transaction relates or any legal or beneficial interest in that land or business.

The client’s consent is effective only if—

The client may cancel any contract—

No commission is payable in respect of any contract of the kind described in subsection (4), regardless of whether the client cancels the contract.

The client may recover any commission paid in respect of any contract of the kind described in subsection (4) as a debt.

For the purposes of this section, a person who is the client of an agent in respect of a transaction is also the client of any branch manager or salesperson whose work enables the agent to carry out real estate agency work for that client.

This section and section 135 have effect despite any provision to the contrary in any agreement.

For the purposes of section 134(3), the licensee must give the client a valuation made at the licensee’s expense.

The valuation must have been made by—

The licensee must give the client the valuation either—

Every consent given under section 134 without the valuation being supplied to the client in accordance with subsection (3) is ineffective.

Any contract to which the client is a party and to which the consent relates is voidable at the option of the client if—

A licensee who carries out real estate agency work in respect of a transaction must disclose in writing to every prospective party to the transaction whether or not the licensee, or any person related to the licensee, may benefit financially from the transaction.

Subsection (1) does not apply to any matter disclosed under section 128 or 134.

The licensee must make the disclosure required by subsection (1) before or at the time that the licensee provides the prospective party with any contractual documents that relate to the transaction.

For the purposes of this section, an agent does not benefit financially from a transaction merely because of any commission payable to the agent under an agency agreement in respect of the transaction.

A contract entered into in contravention of this section may not be cancelled merely because of that contravention.

In sections 134 to 136, licensee includes, in the case of an agent that is a company, every officer and shareholder of the company.

For the purposes of sections 134 to 136, a person is related to a licensee if the person is—