Western Australian Current Acts Western Australian Current Acts (1) Subject to this
Act, 2 or more persons constituting a firm who apply to the Commissioner for a
real estate settlement agent’s licence or a business settlement
agent’s licence, or both, and pay to the Commissioner the prescribed fee
for the licence shall be granted and may hold a licence if the Commissioner is
satisfied that —
(a) all
of the natural persons, if any, by whom the firm is constituted and all of the
directors of, and all of the persons concerned in the management or control
of, any body corporate by which the firm is constituted are persons of good
character and repute and are persons fit to be concerned as directors of, or
in the management and control of, a settlement agent’s business; and
(b) the
persons by whom or by which the firm is constituted have sufficient material
and financial resources available to them to enable them to comply with the
requirements of this Act; and
(c)
where the firm is constituted by not more than 3 persons, at least one of them
is licensed or where the firm is constituted by more than 3 persons at least 2
of them are licensed; and
(d) the
person in bona fide control of the business operated under the licence is
—
(i)
in the case of an application for a real estate
settlement agent’s licence, licensed as a real estate settlement agent
and holds a current triennial certificate; and
(ii)
in the case of an application for a business settlement
agent’s licence, licensed as a business settlement agent and holds a
current triennial certificate; and
(iii)
ordinarily resident in the State.
(2) The provisions of
clause 10 of Schedule 1 apply to a licence granted under this section.
[Section 28 amended: No. 58 of 2010 s. 176.]