Northern Territory Numbered Acts

AGENTS AND LAND LEGISLATION AMENDMENT ACT 2019 (NO 6 OF 2019) - SECT 26

After section 102, in Part 4.1

insert

102A     Use of Agents Licensing Fidelity Guarantee Fund

    (1)     The Minister responsible for the administration of the Agents Licensing Act may, by transfer to the appropriate Agency, use part of the moneys of the Agents Licensing Fidelity Guarantee Fund of the Northern Territory established under that Act for the purpose of meeting the operating costs of the office of schemes supervisor.

    (2)     The Minister mentioned in subsection (1) may, from time to time, determine the amount that is to be transferred.

    (3)     The Minister mentioned in subsection (1) may use the moneys of the Fund under this section only after consulting:

    (a)     the Agents Licensing Fidelity Guarantee Fund of the Northern Territory; and

    (b)     the Commissioner of Consumer Affairs, appointed under the Consumer Affairs and Fair Trading Act ; and

    (c)     any bodies that, in the opinion of the Minister, represent the interests of developers, bodies corporate and unit owners.