ESTATE AGENTS ACT (CHAPTER 27:17)

CHAPTER 27:17

ESTATE AGENTS ACT

Act 6/1999 (s. 29), 22/2001(s. 4).

ARRANGEMENT OF SECTIONS

PART I

PRELIMINARY Section

1. Short title.

PART II

ESTATE AGENTS COUNCIL

3. Continuation of former Council.
4. Functions of Council.
5. Composition of Council.
6. Chairman and vice-chairman of Council.
7. Terms and conditions of office of members.
8. Disqualifications for election or appointment as member.
9. Vacation of office by member.
10. Minister may require member to vacate office.
11. Filling of vacancies on Council.
12. Meetings and decisions of Council.
13. Validity of decisions and acts of Council.
14. Funds of Council.
15. Expenses of Council.
16. Accounts of Council.
17. General meetings of registered estate agents.
18. Inquiries by Council.
19. Committees of Council.
20. Recovery by Council of costs and fees.

PART III

REGISTRAR AND REGISTER OF ESTATE AGENTS

21. Registrar of Estate Agents.
22. Register of Estate Agents and certificates of registration.
23. Offences in connection with Register, etc.
24. Register and certificates of Registrar to be evidence.

PART IV

REGISTRATION

25. Qualifications for registration.
26. Board of examiners and recognition of examinations and qualifications.
27. Application for registration.
28. Application for registration to be referred to Council.
29. Procedure by Council in connection with application for registration.
30. Provisional registration.

PART V

CANCELLATION AND SUSPENSION OF REGISTRATION AND DISCIPLINARY POWERS OF COUNCIL

31. Disciplinary powers of Council.
32. Persons employed by estate agents.
33. Exercise of disciplinary powers by Council on conviction of offence: court to forward evidence.
34. Failure to pay contributions and fees.
35. Suspension because of sequestration or liquidation of company.

PART VI

APPEALS  36. Appeals against decisions of Council.

PART VII

ESTATE AGENTS COMPENSATION FUND

37. Continuation of Estate Agents Compensation Fund and vesting thereof.
38. Composition of Compensation Fund.
39. Compensation for loss due to estate agent’s dishonesty.
40. Subrogation when Council makes grant from Compensation Fund.
41. Compensation fund certificates and contributions to Compensation Fund.
42. Practising without compensation fund certificate.
43. Failure to produce compensation fund certificate.
44. Insurance to indemnify Compensation Fund.
45. Investment of moneys in Compensation Fund.
46. Borrowing for purposes of Compensation Fund.
47. Audit of Compensation Fund.
48. Expenditure from Compensation Fund.
49. Fidelity cover.
50. Rules in respect of Compensation Fund.

PART VIII

TRUST ACCOUNTS

51. Opening of trust accounts.
52. Books of account and audit of trust accounts.
53. Trust moneys excluded from insolvency or attachment.
54. Control of operation of trust account.
55. Bank or financial institution not deemed to know that funds are held in trust.
56. Limitation of set-off, etc., against trust account.
57. Saving of estate agent’s rights against moneys in trust account.
58. Partnership or group trust accounts.
59. Council may require certified balance of trust account.

PART IX

GENERAL

60. Offences by or in respect of unregistered persons.
61. Incorporated estate agents.
62. Persons who may perform estate agents’ work without being registered.
63. Special provisions relating to companies and partnerships.
64. Supervision of employees.
65. Estimation of sale price not to constitute valuation.
66. Notice of registration, order, cancellation, suspension, etc.
67. Information to be notified to Registrar.
68. Commission or remuneration not recoverable in certain cases.
69. Certain terms and conditions in sales of immovable property to be void.
70. Regulations and rules.
71. Alteration of Schedule.
72. [Repealed]
73. Prosecution not to preclude other proceedings.
74. Repeal and savings.

SCHEDULE

Practical Experience Required for Registration.

AN ACT to provide for the functions and powers of the Estate Agents Council; to provide for the registration of estate agents and the regulation of the practice of estate agents in Zimbabwe; to provide for the operation of the Estate Agents Compensation Fund; to regulate the keeping of money held by estate agents on behalf of other persons; to repeal the Estate Agents Act [Chapter 27:05]; and to provide for matters connected with or incidental to the foregoing.

[Date of commencement : 31st August, 2007]

PART I

PRELIMINARY

• Short title

This Act may be cited as the Estate Agents Act, [Chapter 27:17].

• Interpretation

(1)  In this Act—

“appointed member” means a member of the Council referred to in paragraph (b) subsection (1) of section

five;