Agents etc. to supply signatories of documents with copies
63 Agents etc. to supply signatories of documents with copies
Where a person signs any offer, acceptance, or contract, or any document purporting to be an offer, acceptance, or contract relating to any transaction that has been negotiated, or that is the subject of negotiation, wholly or in part by an agent, a developer, or a sales representative, in the course of his business or employment as such, the agent, developer, or sales representative, as the case may be, shall forthwith supply the person who has signed the offer, acceptance, contract, or document, with a true copy thereof (the onus of proof of which is upon the person obtaining the signature).
64. Conflicts of interest of agents etc.
An agent shall not have, directly or indirectly, any interest, otherwise than in his capacity as an agent, in any transaction in which he acts or purports to act as agent, unless his principal has given prior written consent thereto.
Penalty: $5 000.
A sales representative or other person in the employment of an agent shall not have, directly or indirectly, any interest, other than an interest that exists by virtue only of his employment, in any transaction in which the agent acts or purports to act unless the agent’s principal has given prior written consent thereto.
Penalty: $5 000.
A court before which any person is convicted of an offence under this section may order that person to pay over to the agent’s principal any profit that that person has made, or is, in the opinion of the court, likely to make from the transaction.
An agent shall not, whether directly or indirectly, demand, receive, or hold any reward or other valuable consideration for or in relation to any transaction in respect of which the agent or an employee of the agent has an interest in contravention of this section.
Any reward or other valuable consideration received or held in contravention of this section may be recovered as a civil debt recoverable summarily in any court of competent jurisdiction.
[Section 64 amended: No. 43 of 1994 s. 11; No. 50 of 2003 s. 88(2).]
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