Land Agents Regulations 2025

For the purposes of section 11A of the Act, a registered agent will not be taken to properly manage and supervise a business or place of business referred to in that section unless—

the agent makes written procedures readily available to all employees who handle trust money instructing those employees in the proper handling of such money; and

the agent, in respect of each place of business managed and supervised by an individual other than a registered agent ensures that—

a registered agent who is an individual is responsible for managing the trust accounts; and

the individual nominated to manage and supervise the place of business and all other persons employed at the place of business are instructed as to their obligations under the Act, these regulations and any other relevant laws; and

procedures are in place to enable the agent to ascertain whether the individual nominated to manage and supervise the place of business is managing and supervising the place of business properly and with due care and diligence (including inspection by a registered agent who is an individual, at least once per month, of the place of business and of previously uninspected prescribed business documents of the agent held at the place of business).

In this regulation—

prescribed business documents of an agent means documents or copies of documents relating to the sale or purchase of land or a business in respect of which the agent has been authorised to act and includes—

sales agency agreements; and

auction records; and

trust account records.