Real Estate Agents (Winding Up of Fidelity Guarantee Fund) Order 2012

2012/37

Coat of Arms of New Zealand

Real Estate Agents (Winding Up of Fidelity Guarantee Fund) Order 2012

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 12th day of March 2012

Present:
His Excellency the Governor-General in Council

Pursuant to section 163(7) of the Real Estate Agents Act 2008, His Excellency the Governor-General makes the following order, acting—

  • (a) on the recommendation of the Minister of Justice made after receipt of the final report and the final audited accounts in respect of the Real Estate Agents Fidelity Guarantee Fund; and

  • (b) on the advice and with the consent of the Executive Council.

Order

1  Title
  • This order is the Real Estate Agents (Winding Up of Fidelity Guarantee Fund) Order 2012.

2  Commencement
  • This order comes into force on 1 April 2012.

3  Real Estate Agents Fidelity Guarantee Fund wound up
  • The Real Estate Agents Fidelity Guarantee Fund is wound up on 1 April 2012.

Rebecca Kitteridge,
Clerk of the Executive Council.


Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on 1 April 2012, winds up the Real Estate Agents Fidelity Guarantee Fund (the fund) on that date. The fund had been established under prior legislation that the Real Estate Agents Act 2008 (the Act) replaced. The Act continued the fund for the purpose of dealing with claims for reimbursement for loss due to thefts committed while the prior legislation was in force. The Act provides for a final period within which such claims must be lodged and after the closing of this period no further claims can be brought against the fund. That period has expired and all claims made before the expiry of that period have been dealt with.


Issued under the authority of the Acts and Regulations Publications Act 1989.

Date of notification in Gazette: 15 March 2012.

This order is administered by the Ministry of Justice.