New South Wales Consolidated Acts
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PROPERTY AND STOCK AGENTS ACT 2002 - SECT 48
Duty not to act for both buyer and seller of land
48 Duty not to act for both buyer and seller of land
(1) A licensee must not act in his or her capacity as licensee on behalf of
both the buyer and the seller of land at the same time.
(2) A licensee must
not enter into agency agreements in respect of the purchase or sale of land if
the performance of services by the licensee under the agreements will or can
result in the licensee acting in his or her capacity as licensee on behalf of
both the buyer and the seller of the land at the same time.
: Maximum
penalty-- (a) 200 penalty units in the case of a corporation, or
(b) 100
penalty units in any other case.
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