❓ Details allocations from the Fidelity Guarantee Fund, Education and General Purpose Fund, and Board Interest Account over the past two years, and outlines the intended use of these funds in the next 12 months.
AnsweredQoN 186Legislative Council
QuestionView source ↗
Further to question on notice No. 146, answered on August 21 2001 -
(1) What allocations, in terms of funds and purpose, have been made from the Fidelity Guarantee Fund over the past two years?
(2) What allocations, in terms of funds and purpose, have been made from the Education and General Purpose Fund over the past two years?
(3) What allocations, in terms of funds and purpose, have been made from the Board Interest Account over the past two years?
(4) What will funds in these three accounts be used for in the next 12 months?
(1) What allocations, in terms of funds and purpose, have been made from the Fidelity Guarantee Fund over the past two years?
(2) What allocations, in terms of funds and purpose, have been made from the Education and General Purpose Fund over the past two years?
(3) What allocations, in terms of funds and purpose, have been made from the Board Interest Account over the past two years?
(4) What will funds in these three accounts be used for in the next 12 months?
AnswerView source ↗
Answered
30 August 2001
Responded by
Minister for Racing and Gaming representing the Minister for Consumer and Employment Protection
Response time
8 days
1999/2000 2000/2001 $ $ Fidelity Guarantee Fund claims 1,427,801 915,301 Legal fees 33,012 93,339 Fund administration costs 2,214 4,365 Total 1,463,027 1,013,005 (2) The following allocations were made from the Education and General Purpose Fund in the past two years: 1999/2000 2000/2001 $ $ Costs incurred with the administration and enforcement of the Act 3,854,697 4,308,976 Education grants 250,723 140,721 Total 4,105,420 4,449,697 (3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(2) The following allocations were made from the Education and General Purpose Fund in the past two years: 1999/2000 2000/2001 $ $ Costs incurred with the administration and enforcement of the Act 3,854,697 4,308,976 Education grants 250,723 140,721 Total 4,105,420 4,449,697 (3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
1999/2000 2000/2001 $ $ Costs incurred with the administration and enforcement of the Act 3,854,697 4,308,976 Education grants 250,723 140,721 Total 4,105,420 4,449,697 (3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
35% to the Home Buyers Assistance Fund.
(2) The following allocations were made from the Education and General Purpose Fund in the past two years: 1999/2000 2000/2001 $ $ Costs incurred with the administration and enforcement of the Act 3,854,697 4,308,976 Education grants 250,723 140,721 Total 4,105,420 4,449,697 (3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
1999/2000 2000/2001 $ $ Costs incurred with the administration and enforcement of the Act 3,854,697 4,308,976 Education grants 250,723 140,721 Total 4,105,420 4,449,697 (3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(3) The following allocations were made from the Board Interest Account in the past two years: 1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
1999/2000 2000/2001 $ $ Fund administration costs 4,414 4,211 Distribution to the Education & General Purpose Fund 3,621,554 4,570,624 Distribution to the Fidelity Guarantee Fund 56,586 71,416 Distribution to the Home Buyers Assistance Fund 1,980,538 2,499,559 Total 5,663,092 7,145,810 (4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
(4) In the next 12 months, funds in these accounts will be used for the following purposes: Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Fidelity Guarantee Fund: In accordance with section 110 of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to pay successful claims against the Fund, and to meet the cost of all expenses incurred in defending claims against the Fund and administering the Fund. Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Education and General Purpose Fund: In accordance with section 124C of the Real Estate and Business Agents Act 1978, expenditure from this Fund will be used to administer and enforce the Act (which includes the remuneration for Board members and employees) and provide education grants to registered real estate training providers. Key activities that will be undertaken in the next 12 months include: Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Monitoring the behaviour of agents and sales representatives. Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Receiving complaints. Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Investigating complaints. Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Investigating qualified audit reports and complaints of trust account breaches. Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Conciliating disputes between parties to a real estate transaction. Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Holding Inquiries into complaints. Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Applying sanctions. Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Undertaking proactive assessments of compliance. Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Providing education grants to fund industry professional development courses. Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Providing telephone and counter advisory services for consumers and industry members. Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Producing publications, conducting seminars and undertaking other awareness activities for consumers and industry members. Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Receiving and reviewing new applications and renewals for real estate and business agent licences/triennial certificates, and sales representative certificates of registration. Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Maintaining a licensing database. Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Reviewing and approving real estate industry training programs for registration and licensing purposes. Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
Board Interest Account: In accordance with section 127 of the Real Estate and Business Agents Act 1978, expenditure from this Account will be used to pay the costs involved in administering the Account, and the balance remaining will be transferred to the Board’s Funds in the following proportions, in accordance with Regulation 11: 1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
1% to the Fidelity Guarantee Fund; 64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
64% to the Education and General Purpose Fund; and 35% to the Home Buyers Assistance Fund.
35% to the Home Buyers Assistance Fund.
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