New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 53F

53F Licensees and certificate holders not to receive certain gifts or benefits

(1) The holder of a licence or a certificate of registration must not request or accept a gift or other benefit for the holder or for some other person in circumstances that may reasonably be considered to give rise to a conflict of interest.

: Maximum penalty--20 penalty units.

(2) This section does not apply to the following--

(a) anything provided by the employer of the holder,

(b) anything provided in accordance with the terms of an agency agreement or from a client as a gift in gratitude for services provided under an agency agreement,

(c) anything of a kind prescribed by the regulations for the purposes of this section,

(d) anything that has a value that is less than an amount prescribed by the regulations for the purposes of this section.

(3) This section does not apply to the requesting or accepting of a gift or other benefit by a strata managing agent (within the meaning of the Strata Schemes Management Act 2015 ) in connection with the provision of services as a strata managing agent or the exercise of functions as a strata managing agent.

Note : See section 57 of the Strata Schemes Management Act 2015 for an offence relating to the requesting or accepting of gifts by strata managing agents.

(4) In this section--

"gift" has the same meaning as it has in Part 6 of the Election Funding, Expenditure and Disclosures Act 1981 .