Estate Agents (Exemption) Regulations 1997

i Estate Agents (Exemption) Regulations 1997 S.R. No. 9/1997 TABLE OF PROVISIONS Regulation Page 1. Objective 1 2. Authorising provisions 1 3. Revocation 1 4. Exemption for certain corporations 1 5. Exemption for bank employees 2 ═══════════════ NOTES 3 -- 1 of 4 -- 1 STATUTORY RULES 1997 S.R. No. 9/1997 Estate Agents Act 1980 Estate Agents (Exemption) Regulations 1997 The Governor in Council makes the following Regulations: Dated: 11 February 1997 Responsible Minister: JAN WADE Minister for Fair Trading A. WILTSHIRE Acting Clerk of the Executive Council 1. Objective The objective of these Regulations is to exempt certain classes of corporation and employees of a bank from the requirement to hold an estate agent's licence in certain circumstances. 2. Authorising provisions These Regulations are made under sections 5(2)(h) and 99 of the Estate Agents Act 1980. 3. Revocation Regulation 33 of the Estate Agents (Licensing, General, Accounts and Audit) Regulations 1992 1 is revoked. 4. Exemption for certain corporations A corporation which— (a) carries on the business of an estate agent in relation to the assets of— -- 2 of 4 -- S.R. No. 9/1997 Estate Agents (Exemption) Regulations 1997 2 (i) another corporation which is directly or indirectly wholly owned by the first mentioned corporation; or (ii) another corporation, where both corporations are directly or indirectly owned by the same persons in the same proportions; or (iii) another corporation which directly or indirectly wholly owns the first mentioned corporation; and (b) is an estate agent by reason only of the business carried on by it in relation to those assets; and (c) when carrying on that business as an estate agent discloses in writing in any advertising or contract relating to those assets its relationship to the owner of those assets— is an exempt person for the purpose of section 5(2)(h) of the Estate Agents Act 1980. 5. Exemption for bank employees Any employee of a bank in carrying out any transaction for that bank is an exempt person for the purposes of section 5(2)(h) of the Estate Agents Act 1980. ═══════════════ r. 5 -- 3 of 4 -- S.R. No. 9/1997 Estate Agents (Exemption) Regulations 1997 3 NOTES 1 S.R. No. 129/1992. Notes -- 4 of 4 --