AUSTRALIAN CAPITAL TERRITORY

AGENTS ORDINANCE 1968

EXPLANATORY MEMORANDUM

No. 26 of 1968

	The objective of the Agents Ordinance 1968 is to regulate and control the operations of real estate, stock and station, and business agents in the Australian Capital Territory.  It prohibits the carrying on of the business of these agencies by persons or companies who do not hold appropriate licences.

	The Ordinance provides for registration and licensing of agents, rules of conduct they must observe in their dealings with the public and requirements for dealing with monies held on trust and the records which must be kept relating to agency operations.

	An Agents Board and a Registrar of Agents will be appointed under the provisions of the Ordinance.  The Board will adjudicate on applications for registration and licences, on reports from the Registrar that an agent has breached the rules of conduct and in proceedings where an agent wishes to surrender his licence or where he has been called upon to show cause why his licence should not be revoked.  The Board has power to refuse applications for, or revoke registration or a licence.  It may impose penalties on agents who breached the rules of conduct.

	Provision is made for appeal to the Supreme Court from the Board’s decision to impose penalties, to refuse application or to revoke licences and/or registration.

	The Registrar and inspectors who will be appointed under the provisions of the Ordinance have the responsibility for inspecting agents operations and enforcing the provisions of the Ordinance.

	The Ordinance makes provision for the Board to make rules of procedure for penalties for a number of specified offences and for the Minister to make regulations.

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(Minister’s Initials)