Australian Capital Territory Numbered Regulations

AGENTS REGULATIONS 2003 (NO 38 OF 2003) - REG 14

    (1)     This regulation applies to financial or investment advice that—

        (a)     is intended to influence the person to whom it is given in making a particular financial or investment decision about the sale or purchase of land; or

        (b)     could reasonably be regarded as being intended to have that influence.

    (2)     A real estate agent who gives the advice must give the following information or warning:

        (a)     a warning that the advice is general advice only and that its preparation has not taken into account the individual circumstances of the person;

        (b)     for advice given about the purchase of land—a warning that an intending purchaser should assess the suitability of any investment in the property in the light of their own needs and circumstances, and that they can do this themselves or by consulting an appropriately licensed financial adviser;

        (c)     information that discloses the existence and nature of any conflict of interest the agent may have in connection with the giving of the advice.

Example for par (c)

an entitlement to commission or referral fees

Note     An example is part of the regulations, is not exhaustive and may extend, but does not limit, the meaning of the provision in which it appears (see Legislation Act, s 126 and s 132).

Part 5     Agency agreements