New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 5

5 Exemptions

(1) This Act does not require a licence to be held by, and does not require a certificate of registration to be held by any person in their capacity as employee of, any of the following--

(a) a Minister of the Crown whether a Minister of the State of New South Wales or of the Commonwealth,

(b) any Government Department of the State of New South Wales or the Commonwealth (including any statutory corporation representing the Crown),

(c) a council within the meaning of the Local Government Act 1993 ,

(d) any public authority prescribed by the regulations,

(e) any officer or employee of the Crown or of any such Minister, department, corporation, council or authority in the exercise of his or her functions as such officer or employee,

(f) the NSW Trustee and Guardian or any executor, administrator, trustee, liquidator, official receiver, trustee in bankruptcy of a bankrupt's estate, trustee under a composition or scheme of arrangement or under a deed of arrangement or under a deed of assignment, or manager of an estate appointed under the NSW Trustee and Guardian Act 2009 , in the exercise of functions as such,

(g) any person for the purposes of any sale made of Crown lands or other Crown property or for the purposes of any sale of any property made by virtue of any writ or process issued out of any Court or made in obedience to any process issued by any Court or judge or justice for the recovery of any fine, penalty or award, or under any rule, order or decree of any competent Court or made pursuant to the Impounding Act 1993 ,

(h) a receiver appointed under this Act, in the exercise of the receiver's functions under this Act,

(i) the New South Wales Land and Housing Corporation,

(l) the Aboriginal Housing Office,

(m) a registered community housing provider within the meaning of the Community Housing Providers National Law (NSW) , or an organisation for the time being registered under Part 5 of the Aboriginal Housing Act 1998 ,

(n) a person or organisation, or a person or organisation of a class, prescribed by the regulations as not requiring a licence.

(2) This Act does not prevent any person for the time being entitled to practise as an Australian legal practitioner from exercising any function that, had this Act not been enacted, the person might lawfully have exercised as an Australian legal practitioner.

(3) An exemption under subsection (1) (f) that allows a person to carry on a business lawfully without a licence expires 3 months after the management of the business vests in the person.

(4) This Act does not apply to a sale by auction made for the purposes of or in the course of a fundraising appeal within the meaning of the Charitable Fundraising Act 1991 if the appeal is made, and the proceeds of the sale are applied, in accordance with that Act.

(5) The following persons may exercise business agent functions without the need to hold a licence or certificate of registration--

(a) a person who holds an Australian financial services licence under the Corporations Act,

(b) a person who is an authorised representative of a financial services licensee within the meaning of Chapter 7 of the Corporations Act.