Western Australian Current Acts Western Australian Current Acts (1) Subject to this
Act, a body corporate which applies to the Commissioner for a real estate
settlement agent’s licence or a business settlement agent’s
licence, or both, and pays 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 directors of the body corporate, and all of the persons concerned in
the management or conduct of the body corporate, 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) it
has sufficient material and financial resources available to it to comply with
the requirements of this Act; and
(c)
unless for good cause shown by the applicant the Commissioner otherwise
determines, where there are not more than 3 directors of the body corporate at
least one of them is licensed where there are more than 3 directors of the
body corporate 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 29 amended: No. 58 of 2010 s. 176.]