New South Wales Consolidated Acts New South Wales Consolidated Acts
(1) The regulations may contain provisions of a savings or transitional nature consequent on the enactment of the following Acts--this ActProperty, Stock and Business Agents Amendment Act 2006Property, Stock and Business Agents Amendment Act 2013any other Act that amends this Act
(2) Any such provision may, if the regulations so provide, take effect from the date of assent to the Act concerned or a later date.
(3) To the extent to which any such provision takes effect from a date that is earlier than the date of its publication in the Gazette, the provision does not operate so as--(a) to affect, in a manner prejudicial to any person (other than the State or an authority of the State), the rights of that person existing before the date of its publication, or(b) to impose liabilities on any person (other than the State or an authority of the State) in respect of anything done or omitted to be done before the date of its publication.
In
this Part--
"repealed Act" means the Property, Stock and Business Agents Act 1941 .
(1) A person who was the holder of a licence or certificate of registration under a provision of the repealed Act immediately before its repeal is taken to be the holder of the corresponding licence or certificate of registration under this Act.
(2) The corresponding licence or certificate of registration--(a) is taken to have been issued subject to the same conditions to which it was subject under the repealed Act, and(b) remains in force for the remainder of the period for which it was issued.
(3) Section 8 applies in respect of a service performed by a person before the commencement of that section as if a reference in that section to a licence included a reference to the corresponding licence under the repealed Act.
Note : Licences under the repealed Act were issued for 3 years.
(1) The repealed Act continues to apply as if it had not been repealed to and in respect of--(a) an application for the issue, renewal or restoration of a licence or certificate of registration under a provision of the repealed Act that was pending immediately before its repeal, and(b) any objection under a provision of the repealed Act in respect of such an application.
(2) A licence or certificate of registration issued or renewed under a provision of the repealed Act pursuant to subclause (1) is taken to have been issued or renewed immediately before the repeal of the provision.
(1) The repealed Act continues to apply as if it had not been repealed to and in respect of a complaint that was made under section 29, 29A, 60 or 60AA of the repealed Act and was pending immediately before the repeal of those sections.
(2) For the purposes of the operation of this Schedule, any action taken by a court on such a complaint is to have effect as if it was made immediately before the repeal of the provision of the repealed Act under which the complaint was made.
(1) Any appeal pending under section 31 or 61 of the repealed Act immediately before the repeal of the section under which the appeal was made is to continue and be determined as if the repealed Act had not been repealed.
(2) For the purposes of the operation of this Schedule, the determination of the appeal is to have effect as if the appeal was made immediately before the repeal of the provision of the repealed Act under which it was made.
Any records kept under or for the purposes of a provision of the repealed Act are taken to be kept under or for the purposes of the corresponding provision of this Act.
(1) The Compensation Fund under this Act is a continuation of the Compensation Fund under the repealed Act. The Compensation Fund under the repealed Act is a continuation of the Property Services Council Compensation Fund (
"the PSCC Fund" ) under the repealed Act.
(2) Any amount payable to or from the Compensation Fund under the repealed Act or the PSCC Fund immediately before the commencement of this clause is payable instead to or from the Compensation Fund under this Act.
(3) Contributions made to the Compensation Fund under the repealed Act are taken to have been made to the Compensation Fund under this Act.
(4) Any payment under the repealed Act out of either the Compensation Fund or the PSCC Fund in settlement in whole or in part of a claim under the repealed Act is, for the purposes of this Act, taken to be a payment made out of the Compensation Fund under this Act in settlement in whole or in part of the claim concerned as if it were a claim under this Act.
(1) The Statutory Interest Account under this Act is a continuation of the Statutory Interest Account under the repealed Act.
(2) Any amount payable to the Statutory Interest Account under the repealed Act immediately before the commencement of this clause is payable instead to the Statutory Interest Account under this Act.
(3) Contributions made to the Statutory Interest Account under the repealed Act are taken to have been made to the Statutory Interest Account under this Act.
A trust account rate determined for an authorised deposit-taking institution and in force under section 36AA of the repealed Act immediately before its repeal is taken to have been determined under section 90 of this Act in respect of that institution until a different rate is determined for that institution under that section.
The Director-General is taken to have approved of a licensee carrying on, or advertising or holding out that the licensee carries on, business as a licensee under a name for the purposes of this Act if, immediately before the commencement of this clause, the licensee carried on business as a licensee under that name in compliance with section 43A of the repealed Act.
A reference in this Act to a licence cancelled under this Act includes a reference to a licence cancelled under the repealed Act.
The repealed Act continues to apply to and in respect of a receiver whose appointment under the repealed Act is in force immediately before the commencement of this clause as if the repealed Act had not been repealed.
Unless the context otherwise indicates or requires, a provision of this Act extends to any act or omission occurring before the commencement of the provision.
Anything done by the Director-General or a licensee under or for the purposes of a provision of the repealed Act is, to the extent that the thing done has effect immediately before the repeal of the provision, taken to have been done under or for the purposes of the corresponding provision of this Act.
For the purposes of section 219 (Disclosure of information) of this Act, information obtained in connection with the administration or execution of the repealed Act is taken to have been obtained in connection with the administration or execution of this Act.
(1) Section 35 (1) applies only to the entering into of a franchising agreement after the commencement of that section.
(2) Section 35 (2) extends to a franchising agreement entered into before the commencement of that section.
Section 55 extends to services performed by a licensee under the repealed Act before the commencement of that section.
In this Part--
"2006 amending Act" means the Property, Stock and Business Agents Amendment
Act 2006 .
Division 6 of Part 3 extends to conduct that occurred before the commencement of the Division.
Section 76A extends to auctions conducted before the commencement of that section (but only in respect of statements made in the course of marketing the property after that commencement) and applies in respect of such an auction as if a reference in that section to a vendor bid included a reference to a bid made by or on behalf of the seller.
The amendment of section 78 by the 2006 amending Act does not apply to a contravention of that section that occurred before the commencement of the amendment.
The amendment of section 86 by the 2006 amending Act extends to a trust account opened before the commencement of the amendment.
The declaration of a provision of Part 9 of this Act as a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act extends to a provision of that Part as amended by the Statute Law (Miscellaneous Provisions) Act 2008 .
In this Part--
"2013 amending Act" means the Property, Stock and Business Agents Amendment
Act 2013 .
The amendments made to section 55 by the 2013 amending Act, and section 55A as inserted by that Act, do not apply in respect of an agency agreement entered into before the commencement of section 55A.
(1) An amendment made by the 2013 amending Act to the Unclaimed Money Act 1995 extends to money held in a trust account immediately before the commencement of the amendment, subject to this clause.
(2) Division 4 (Unclaimed trust money) of Part 7 of this Act continues to apply (despite its repeal) to and in respect of money held in a trust account by a person who became a former licensee, or the personal representative of a deceased licensee, before the repeal of that Division.
(3) Section 9C (Trust money held by former licensee or personal representative) of the Unclaimed Money Act 1995 does not apply to or in respect of money held in a trust account by a person who became a former licensee, or the personal representative of a deceased licensee, before the commencement of that section.
(4) Division 4 (Unclaimed trust money) of Part 7 of this Act continues to apply (despite its repeal) to and in respect of the following--(a) an unclaimed money statement under that Division furnished (or required to have been furnished) to the Director-General before the repeal of that Division,(b) any money referred to in (or required to be referred to in) any such unclaimed money statement,(c) any money received by the Director-General under that Division and paid under that Division into the Compensation Fund or the Consolidated Fund before or after the repeal of that Division.
(5) Without limiting subclause (4), section 99 (Repayment of unclaimed trust money) of this Act continues to apply (despite its repeal) to money paid under Division 4 of Part 7 into the Compensation Fund or the Consolidated Fund before or after the repeal of that Division.
In this
Part--
"2015 amending Act" means the Property, Stock and Business Agents Amendment
(Underquoting Prohibition) Act 2015 .
"existing agency agreement" means an agency agreement for the sale of
residential property entered into before the commencement of Schedule 1
[2[#93] to the 2015 amending Act.
Except as provided by clause 29, Division 3 of Part 5 of the Act (as in force immediately before the commencement of Schedule 1 [2[#93] to the 2015 amending Act) continues to apply in relation to any act, matter or thing done in accordance with an existing agency agreement.
(1) Sections 73 and 73A (as substituted and inserted, respectively, by the 2015 amending Act) extend to any act, matter or thing done after the commencement of those sections in connection with the sale of a residential property in accordance with an existing agency agreement.
(2) An estimate of the likely selling price or price range of residential property, however described, specified in an existing agency agreement is, for the purposes of the application of those sections by subclause (1), taken to be an estimated selling price for the property.
(3) A real estate agent may, in accordance with section 72A (as inserted by the 2015 amending Act), revise an amount that is taken to be an estimated selling price.
In this
Part--
"amending Act" means the Property, Stock and Business Agents Amendment
(Property Industry Reform) Act 2018 .
Section 8 (2), as in force immediately before its substitution by the amending Act, continues to apply in respect of proceedings in relation to services to which that subsection relates that were performed before that substitution.
(1) On the substitution of section 17 (1) by the amending Act--(a) a certificate of registration as a real estate salesperson is taken to be a certificate of registration as an assistant real estate agent, and(b) a certificate of registration as a stock and station salesperson is taken to be a certificate of registration as an assistant stock and station agent, and(c) a certificate of registration as a registered manager is taken to be a certificate of registration as an assistant strata managing agent.
(2) Nothing in this clause affects any condition to which a certificate of registration is subject on that substitution or the duration for which any such certificate remains in force.
(1) On the substitution of section 17 (1) by the amending Act--(a) the holder of a business agent's licence is taken to hold a real estate agent's class 2 licence that is subject to a condition that the holder exercise no real estate agent functions other than business agent functions, and(b) the holder of an on-site residential property manager's licence is taken to hold a real estate agent's class 2 licence that is subject to a condition that the holder exercise no real estate agent functions other than on-site residential property manager functions, and(c) the holder of a real estate agent's licence is taken to hold a real estate agent's class 2 licence that is subject to a condition that the holder exercise no real estate agent functions other than real estate sale or leasing functions or on-site residential property manager functions, and(d) the holder of a certificate of registration as a business salesperson is taken to hold a certificate of registration as an assistant real estate agent that is subject to a condition that the holder exercise no real estate agent functions other than business agent functions, and(e) the holder of a certificate of registration that is taken (because of clause 32 (1) (a)) to be a certificate of registration as an assistant real estate agent is taken to hold that certificate subject to a condition that the holder exercise no real estate agent functions other than real estate sale or leasing functions or on-site residential property manager functions, and(f) the holder of a certificate of registration as a registered manager who is employed by the holder of an on-site residential property manager's licence is taken to hold a certificate of registration as an assistant real estate agent that is subject to a condition that the holder exercise no real estate agent functions other than on-site residential property manager functions.
(2) If a person holds more than 1 licence or certificate of registration, only the licence or certificate of registration referred to in this clause is affected by any condition imposed by this clause.
(3) The Secretary may, by notice in writing to the holder of a licence or certificate of registration, remove or modify a condition imposed by this clause in order to permit the person to exercise more real estate agent functions but only if the Secretary is satisfied the person is eligible and qualified to exercise those functions.
(4) The Secretary may, by notice in writing to a person who, because of this clause, holds more than 1 real estate agent's licence or certificate of registration as an assistant real estate agent, merge those licences or certificates into a single licence or certificate.
(5) Nothing in this clause prevents a person from exercising a function that the person was lawfully authorised to exercise immediately before the commencement of this clause.
Section 111 (1) (b), as substituted by the amending Act, applies only to an auditor's report completed after that amendment.
Section 196 (3) as substituted by the amending Act extends to permit the suspension of a licence or certificate of registration for more than 60 days even if the grounds for that suspension occurred before that substitution.
In this Part--
"amending Act" means the Fair Trading Legislation Amendment (Reform) Act 2018
.
"commencement day" means the day on which Schedule 2.12 to the amending Act
commences.
(1) Subject to subclause (3), section 26A does not affect the term of a certificate of registration granted under this Act and in force immediately before the commencement day (an
"existing certificate" ).
(2) Despite section 26B(2), an application for the renewal of an existing certificate may be made within 6 weeks before the certificate expires and, if renewed, the certificate is no longer an existing certificate for the purposes of this clause.
(3) A certificate of registration as an assistant stock and station agent subject to a condition limiting the holder to activities relating to livestock that was in force immediately before the commencement day is taken to be a licence granted under this Act for the purposes of sections 25, 25A and 26(6) (as inserted by the amending Act) only.
(4) Subclause (3) ceases to apply to a certificate of registration if the certificate is cancelled, surrendered or not restored following its expiry.
Section 26B(1) does not apply to an application for a certificate of registration if--
(a) the application is made within 1 year after the commencement day, and
(b) the applicant previously held a certificate of registration that expired or was cancelled within 1 year before the commencement day.
In
this Part--
"amendment Act" means the Better Regulation and Customer Service Legislation
Amendment (Bushfire Relief) Act 2020 .
"relevant period" means the period--
(a) starting on 18 July 2019, and
(b) ending immediately before the commencement of the amendment Act.
(1) This clause applies if, during the relevant period, the Secretary waived, reduced, postponed or refunded, in whole or part, a fee payable or paid by a person under this Act or the regulations on the ground the Secretary was satisfied it was appropriate because--(a) the person was suffering financial hardship, or(b) special circumstances existed.
(2) The waiver, reduction, postponement or refund is taken to have been as valid as if it had happened after the commencement of the amendment Act.
To remove any doubt, the power of the Secretary to waive, reduce, postpone or refund, in whole or part, a fee payable or paid under this Act or the regulations applies in relation to--
(a) a person who was suffering financial hardship--(i) during the relevant period, or(ii) because of events that happened during the relevant period, or
(b) special circumstances--(i) that existed during the relevant period, or(ii) that exist because of events that happened during the relevant period.