STATUTES AMENDMENT (REAL ESTATE REFORM REVIEW AND OTHER MATTERS) BILL

Final Stages

The Legislative Council agreed to the Bill with the amendments indicated by the following schedule, to which amendments the Legislative Council desires the concurrence of the House of Assembly:

No. 1. Clause 13, page 7, lines 4 to 11 [clause 13(7), inserted subsection (6a)]—Delete subsection (6a) and substitute:

(6a) If, in relation to a sales agency agreement, a notice of expiry is given in the prescribed manner to the vendor by the agent who has been authorised to act on behalf of the vendor under the agreement—

(a) the vendor may, by notice given to the agent before the date on which the agreement is due to expire, indicate his or her intention not to extend the agreement, in which case the agreement terminates on that date; or

(b) if notice is not given under paragraph (a), the following provisions apply, subject to subsection (6ab):

(i) the agreement may be extended—

(A) by agreement between the parties recorded in writing and dated and signed by the parties no earlier than 14 days before the agreement is due to expire; and

(B) for a period not exceeding the number of days prescribed by regulation;

(ii) if the agreement is not extended under subparagraph (i), it is taken to have been extended by force of this paragraph for the period prescribed by regulation from the time at which it would otherwise have expired.

(6ab) A sales agency agreement cannot be extended more than once.

(6ac) If a notice of expiry is not given by an agent to a vendor in accordance with subsection (6a), the sales agency agreement terminates on the date on which it is due to expire and cannot be extended.

No. 2. Clause 13, page 7, line 14 [clause 13(7), inserted subsection (6b)]—After 'agreement' insert:

under subsection (6a)(b)(i)

No. 3. Clause 13, page 7, lines 19 to 22 (inclusive) [clause 13(7), inserted subsection (6c)]—Delete subsection (6c) and substitute:

(6c) A vendor may, by notice in writing given to the agent at any time during a period of extension of a sales agency agreement, terminate the agreement without specifying any grounds.

No. 4. Clause 13, page 7, after line 34—After subclause (8)—insert:

(9) Section 20—after subsection (9) insert:

(10) For the purposes of this section, a notice of expiry, in relation to a sales agency agreement, will be taken to have been given to the vendor in the prescribed manner if it is given to the vendor no earlier than 14 days before the agreement is due to expire.

(11) In this section—

notice of expiry, in relation to a sales agency agreement, means a notice in writing—

(a) reminding the vendor of the date on which the agreement is due to expire and the vendor's rights to terminate the agreement; and

(b) setting out the vendor's rights to extend the agreement and the effect of subsections (6a), (6ab), (6b) and (6c).