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s 13

Operation of licensed agent's business

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Part 3Regulation of activities

13 Operation of licensed agent's business

(1)

A licensed agent that is a body corporate must ensure that the agent's business is (with respect to the functions authorised by the licence) properly managed and supervised by a natural person who holds a licence authorising the person to perform those functions personally without supervision. Maximum penalty: Maximum penalty: $20 000.

(2)

A licensed agent authorised to carry on business under the licence must ensure that functions performed in the course of the business are performed by natural persons who hold licences authorising them to perform those functions personally. Maximum penalty: Maximum penalty: $20 000.

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