1 Title

2 Commencement

3 Purpose of Act

4 Interpretation

5 Act binds the Crown

6 Persons may not carry out real estate agency work unless licensed or exempt

7 Exemption for lawyers and conveyancers

8 Exemption for licensed auctioneers

9 Exemption for Landcorp Farming Limited

10 Exemption granted by Authority

11 Exemption under regulations

12 Exemptions granted by Order in Council

13 Recommendation by Minister

14 Authority established

15 Authority a Crown entity

16 Authority’s functions

17 Membership of Authority

18 Code of professional conduct and client care

19 Continuing education

20 Consultation in relation to practice rules

21 Criteria in relation to approval of practice rules by Minister

22 Power of Minister to amend practice rules

23 Further provisions relating to practice rules

24 Authority may prescribe fees

25 Operational levy

26 Disciplinary levy

27 Further provisions relating to fees and levies

28 Payment of fees, levies, and fines

29 Grounds for intervention

29A Power to take possession of documents

29B Administration of trust account in certain cases

29C Appointment of interim administrator in certain cases

29D Authority may direct audit of agent's trust account

30 Authority may inspect certain financial records

31 District Court Judge may order Authority to return documents

31AA High Court Judge may give directions to administrator of trust account or cancel appointment

31A Authority to appoint Registrar

32 Functions of Registrar

33 Power of Registrar to delegate

34 Entitlement to licence

35 Persons prohibited from being licensed

36 Application for licence

37 Applicant must advertise application

38 Objections to issue of licence

39 Written submission in response by applicant

40 Registrar to hold hearing if notice of objection made

41 Registrar to license applicant or decline application

42 Special provisions in respect of partnerships and companies

43 Duty to produce evidence of issue of licence

44 Term of licence

45 Licence may not be transferred

46 Agent’s licence

47 Branch manager’s or salesperson’s licence

48 Salespersons must be supervised

49 Employment status of salesperson

50 Review of section 49

51 Renewal of licence

52 Expiry of licence

53 Cancellation of licence

54 Process for cancellation

55 Effective date of cancellation

56 Mandatory suspension of licence

57 Voluntary suspension of licence

58 Effect of suspension of licence

59 Effective date of suspension

60 Voluntary surrender of licence

61 Temporary licence

62 Register of licensees

63 Purpose of register

64 Form of register

65 Matters to be contained in register

66 Obligation to notify Registrar

67 Alterations to register

68 Search of register

69 When search constitutes interference with privacy of individual

70 Meaning of licensee in this Part

71 Unsatisfactory conduct

72 Misconduct

73 Complaints about licensees

74 Authority to establish and maintain Complaints Assessment Committee

74 Authority to appoint Complaints Assessment Committees

74A Panel

74B Constitution of Committees for consideration of matters before it

75 Functions of Committees

76 Procedure on receipt of complaint

77 Decision to take no action on complaint

78 Notice of decision

79 Inquiry by Committee

80 Notice to licensee

81 Procedure of Committee

82 Powers to call for information or documents

83 Compliance with requirement to provide information or document

84 Negotiation, conciliation, and mediation

85 Evidence

86 Power of Committee to determine complaint or allegation

87 Hearings on papers

88 Reference of complaint to Disciplinary Tribunal

89 Application for suspension of licence

90 Power of Committee to make orders

91 Notice of determination

92 Members of Committee not personally liable

93 Protection and privileges of witnesses

94 Privileges and immunities of counsel

95 Enforcement of orders

96 Non-payment of fines or costs

97 Real Estate Agents Disciplinary Tribunal established

98 Constitution of Tribunal for hearings

99 Functions of Tribunal

100 Services for Tribunal

101 Further provisions in relation to Tribunal and its proceedings

102 Proceeding before Tribunal

103 Representation before Disciplinary Tribunal

104 Hearings to be in public

105 Restrictions on publication

106 Evidence

107 Determination of charges and orders that may be made if charge proved

108 Appeal to Tribunal against determination by Committee

109 Application to Tribunal to review determination by Registrar

110 Notification by Tribunal

111 Enforcement of order

112 Suspension of licence pending outcome of hearing

113 Right of appeal

114 High Court may make interim order

115 Duties of Registrar if interim order made

116 Determination of appeal

117 Appeal to Court of Appeal on question of law

117A Agent to display required name information

118 Duty of agent with respect to money received in course of business

119 Money to be held by agent for 10 working days

120 Agent to furnish account to client

121 Agents’ trust accounts to be audited

122 Administration of trust account in certain cases

123 Appointment of interim administrator in certain cases

124 No entitlement to commission or expenses without agency agreement

125 Approved guide to be provided before agency agreement for residential property signed

126 Agency agreement must disclose rebates, discounts, and commissions

127 Regulations may make provisions in respect of agency agreements

128 Client may cancel sole agency agreement by 5 pm next working day

129 Parties may cancel sole agency agreements in respect of residential property 90 days after agreement is signed

130 Licensee to give copy of contractual document

131 Approved guide to be provided when contractual document provided

132 Contracts for acquisition by licensee or related person may be cancelled

133 Client to be provided with valuation

134 Disclosure of other benefits that licensee stands to gain from transaction

135 Meaning of licensee and person related to licensee in sections 132 to 134

136 Application of sections 137 to 141

137 Bidders Record

138 Details to be established by proof of identity

139 Confidentiality of Bidders Record

140 Bids may only be taken from registered bidders

141 Vendor’s bids to be identified

142 General offences

143 General penalty

144 Forfeiture for certain offences

145 Offences to be punishable on summary conviction

146 Offence to carry on business of agent, branch manager, or salesperson unless licensed or exempt

147 Offence of holding out as agent, branch manager, or salesperson unless licensed or exempt

148 Offence of employing or contracting unlicensed or non-exempt person as agent, branch manager, or salesperson

149 Offence to provide false or misleading information

150 Offence to fail to notify change in circumstances

150A Offence to fail to comply with requirement to give possession of documents

150B Offence to fail to comply with a requirement to produce financial records

150C Offence to fail to provide information or document

151AB Offence to fail to pay person lawfully entitled to money received

151AAB Offence to fail to hold money

151 Offence to fail to disclose conflict of interest

152 Offence to render false accounts

152A Offence to breach confidentiality of Bidders Record

152B Offence to take a bid from unregistered bidder

153 Offence to resist, obstruct, etc

154 Service of notice and documents

154A Civil remedies not affected

155 Regulations

156 Repeal of Real Estate Agents Act 1976

157 Transfer of assets and liabilities

157A Membership of REINZ

158 Continuation of certain provisions of Real Estate Agents Act 1976

159 Claims in relation to Real Estate Agents Fidelity Guarantee Fund

160 Public notice of last day for making claims

161 Winding up of Real Estate Agents Fidelity Guarantee Fund

162 Application of Real Estate Agents Fidelity Guarantee Fund on winding up

163 Continuation in office for purposes of transitional provisions

164 Agents licensed under Real Estate Agents Act 1976

165 Salespersons and branch managers approved under Real Estate Agents Act 1976

166 Continuing effect of permits issued under Real Estate Agents Act 1976

167 Applications pending at commencement of this section to be dealt with under Real Estate Agents Act 1976

167A Continuing effect of agency agreements entered into before repeal of Real Estate Agents Act 1976

168 Continuation of pending disciplinary proceedings

169 Allegations about conduct before commencement of this section

170 Amendments to other enactments