New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2014 - REG 40

40 Sharing of commission

(1) A licensee is exempt from complying with section 33 of the Act if--

(a) the transaction concerned relates solely to livestock and the person with whom the licensee enters into an arrangement or acts in conjunction in respect of that transaction is a person whose principal place of business is a State or Territory under the law of which a person is not required to be licensed, registered or otherwise authorised to act as an agent in connection with any such transaction, or

(b) the person with whom the licensee enters into an arrangement or acts in conjunction as referred to in that section is a person who is licensed, registered or otherwise authorised under the law of a place outside Australia to act as agent in connection with the transaction concerned.

(2) Each of the following Acts is declared to be a corresponding Act for the purposes of section 33 of the Act--

the Agents Act 2003 of the Australian Capital Territory

the Agents Licensing Act of the Northern Territory

the Property Occupations Act 2014 of Queensland

the Land Agents Act 1994 of South Australia

the Property Agents and Land Transactions Act 2005 of Tasmania

the Estate Agents Act 1980 of Victoria

the Real Estate and Business Agents Act 1978 of Western Australia