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AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SCHEDULE 1
SCHEDULE 1 – Dictionary
"account" , for part 4 , see section 41 .
"agent" —
(a) generally—see section 8 ; and
(b) for part 3 , division 3
—see section 33 ; and
(c) for part 4 —see section 41 ; and
(d) for part
7 —see section 80 .
"Agents Act" means the following— (a) the
Debt Collectors (Field Agents and Collection Agents) Act 2014 ;
(b) the
Motor Dealers and Chattel Auctioneers Act 2014 ;
(c) the
Property Occupations Act 2014 .
"amount in dispute" see section 25 (1) (b) .
"approved financial institution" means a financial institution that has
entered into an agreement with the chief executive under section 14 .
"arrangement" includes agreement, promise, scheme, transaction (with or
without consideration), understanding and undertaking (whether express or
implied).
"audit month" , for part 3 , division 3 , see section 33 .
"auditor" , for part 3 , see section 29 .
"audit period" , for part 3 , division 3 , see section 33 .
"audit report" , for part 3 , division 3 , see section 33 .
"chattel auctioneer" , for part 7 , see section 80 .
"claimant" , for part 7 , see section 80 .
"claim fund" means the claim fund established under section 78 .
"claim notice" , for part 7 , see section 80 .
"client" , of an agent, means the person who appoints the agent to perform an
activity.
"collection agent" means a collection agent under the
Debt Collectors (Field Agents and Collection Agents) Act 2014 .
"conviction" includes a plea of guilty or a finding of guilt by a court, but
does not include a plea of guilty or a finding of guilt by a court if no
conviction is recorded by the court.
"defalcation" , for part 4 , see section 41 .
"employ" includes— (a) engage on a contract for services or commission and
use the services of, whether or not for reward; and
(b) directly engage a
person as an independent contractor; and
(c) engage a person from a labour
hire provider.
"executive officer" , for a corporation, means a person, by whatever name
called and whether or not the person is a director of the corporation, who is
concerned, or takes part, in the management of the corporation.
"financial loss" , for part 7 , see section 80 .
"former licensee" means a person who held a licence under this Act or the
repealed Act.
"FTI Act" see section 5 (1) .
"fund" means the claim fund.
"holder" — (a) of an account, means the agent or other person authorised to
operate on the account; or
(b) of a licence, means the person in whose name
the licence is issued.
"in charge" , of an agent’s business, means in charge within the meaning of
the Agents Act under which the agent conducts the business.
"inspector" means a person who holds office under the FTI Act as an inspector
for this Act.
"licence" means a licence issued under an Agents Act.
"licensed" , for a person, means licensed under an Agents Act.
"licensee" means the holder of a licence under an Agents Act, that is in
force.
"marketeering contravention" , for part 7 , see section 80 .
"misleading" includes deceptive.
"money" , for part 4 , see section 41 .
"motor dealer" , for part 7 , see section 80 .
"motor vehicle" , for part 7 , see section 80 .
"non-investment residential property" see section 81 .
"obstruct" includes hinder, delay and attempt to obstruct.
"on-sale" see section 110 (1) .
"parties" , to a claim, see section 96 (2) .
"principal agent" means the following— (a) if the agent is a licensee—a
licensee that carries on business under the licensee’s licence on the
licensee’s own behalf;
(b) a collection agent that carries on business as a
collection agent on the agent’s own behalf.
"receiver" means a receiver appointed under section 50 .
"receivership property" , for part 4 , see 50(2).
"registered office" see section 80 .
"relevant activity" , for a debt collector for part 7 , see section 80 .
"relevant person" , for part 7 , see section 80 .
"repealed Act" means the Property Agents and Motor Dealers Act 2000 .
"representation" means a statement, promise, publication and other
representation made in any way.
"residential property" see section 80 .
"respondent" — (a) for part 7 , see section 80 ; and
(b) for part 8 , see
section 117 (2) ; and
(c) for part 10 , see section 125 .
"reward" includes remuneration of any kind including, for example, any fee,
commission or gain.
"sell" includes agree to sell, advertise or display for sale, attempt to sell,
have for sale, negotiate for a sale, and in any way be concerned in selling.
"special investigator" means a special investigator appointed under section 70
.
"special payment" see section 115 .
"trust account" means a trust account kept under this Act.
"trust money" includes an amount that was, or ought, under this Act, to have
been, deposited in a trust account by an agent.
"trust property" , for part 4 , see section 41 .
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