(1B) If the Director imposes a requirement on a person S. 69(1B) under subsection (1A), the person must comply inserted by No. 41/2003 with the requirement within the time specified by s. 45. the Director in the notice imposing the requirement. 25 penalty units. (2) Where the accounts of trust money are kept by a S. 69(2) amended by partnership of estate agents an audit of those No. 10028 accounts under section 64, 64A or 64B and the s. 42(c). certificates and report of the auditor thereon shall operate as regards those accounts as an audit certificate and report in relation to each estate agent who is a member of that partnership. Division 2—Monitoring of estate agency business Pt 6 Div. 2 (Heading) inserted by No. 103/2004 s. 40. 70 Definitions S. 70 amended by Nos 9902 In this Division— s. 2(1)(Sch. item 82), 9925 includes licensed estate agent and any estate agent s. 5(a)(b), person— 10028 s. 43, 29/1989 (a) whose estate agent's licence has expired ss 11(2), 19(3), 86/1994 ss 35, or has been cancelled; or 47(zu), 52/1998 (b) who is a director or officer of a s. 99(1), 41/2003 s. 46, corporation which is a licensed estate substituted by agent; or No. 103/2004 s. 40. (c) where the licence of a corporation has expired or has been cancelled, who was a director or officer of the corporation at the time the licence expired or was cancelled; includes any account of or with trust account respect to any moneys received or held by a
S. 69(1B) inserted by No. 41/2003 s. 45. (1B) If the Director imposes a requirement on a person under subsection (1A), the person must comply with the requirement within the time specified by the Director in the notice imposing the requirement. 25 penalty units. S. 69(2) amended by No. 10028 s. 42(c). (2) Where the accounts of trust money are kept by a partnership of estate agents an audit of those accounts under section 64, 64A or 64B and the certificates and report of the auditor thereon shall operate as regards those accounts as an audit certificate and report in relation to each estate agent who is a member of that partnership. Pt 6 Div. 2 (Heading) inserted by No. 103/2004 s. 40. Division 2—Monitoring of estate agency business S. 70 amended by Nos 9902 s. 2(1)(Sch. item 82), 9925 s. 5(a)(b), 10028 s. 43, 29/1989 ss 11(2), 19(3), 86/1994 ss 35, 47(zu), 52/1998 s. 99(1), 41/2003 s. 46, substituted by No. 103/2004 s. 40. 70 Definitions In this Division— estate agent includes licensed estate agent and any person— (a) whose estate agent's licence has expired or has been cancelled; or (b) who is a director or officer of a corporation which is a licensed estate agent; or (c) where the licence of a corporation has expired or has been cancelled, who was a director or officer of the corporation at the time the licence expired or was cancelled; trust account includes any account of or with respect to any moneys received or held by a
80-9428a119A.docx