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ESTATE AGENTS ACT (CHAPTER 27:17)
ESTATE AGENTS ACT
Act 6/1999 (s. 29), 22/2001(s. 4).
ARRANGEMENT OF SECTIONS
- Short title.
ESTATE AGENTS COUNCIL
- Continuation of former Council.
- Functions of Council.
- Composition of Council.
- Chairman and vice-chairman of Council.
- Terms and conditions of office of members.
- Disqualifications for election or appointment as member.
- Vacation of office by member.
- Minister may require member to vacate office.
- Filling of vacancies on Council.
- Meetings and decisions of Council.
- Validity of decisions and acts of Council.
- Funds of Council.
- Expenses of Council.
- Accounts of Council.
- General meetings of registered estate agents.
- Inquiries by Council.
- Committees of Council.
- Recovery by Council of costs and fees.
REGISTRAR AND REGISTER OF ESTATE AGENTS
- Registrar of Estate Agents.
- Register of Estate Agents and certificates of registration.
- Offences in connection with Register, etc.
- Register and certificates of Registrar to be evidence.
- Qualifications for registration.
- Board of examiners and recognition of examinations and qualifications.
- Application for registration.
- Application for registration to be referred to Council.
- Procedure by Council in connection with application for registration.
- Provisional registration.
CANCELLATION AND SUSPENSION OF REGISTRATION AND DISCIPLINARY POWERS OF COUNCIL
- Disciplinary powers of Council.
- Persons employed by estate agents.
- Exercise of disciplinary powers by Council on conviction of offence: court to forward evidence.
- Failure to pay contributions and fees.
- Suspension because of sequestration or liquidation of company.
APPEALS 36. Appeals against decisions of Council.
ESTATE AGENTS COMPENSATION FUND
- Continuation of Estate Agents Compensation Fund and vesting thereof.
- Composition of Compensation Fund.
- Compensation for loss due to estate agent’s dishonesty.
- Subrogation when Council makes grant from Compensation Fund.
- Compensation fund certificates and contributions to Compensation Fund.
- Practising without compensation fund certificate.
- Failure to produce compensation fund certificate.
- Insurance to indemnify Compensation Fund.
- Investment of moneys in Compensation Fund.
- Borrowing for purposes of Compensation Fund.
- Audit of Compensation Fund.
- Expenditure from Compensation Fund.
- Fidelity cover.
- Rules in respect of Compensation Fund.
- Opening of trust accounts.
- Books of account and audit of trust accounts.
- Trust moneys excluded from insolvency or attachment.
- Control of operation of trust account.
- Bank or financial institution not deemed to know that funds are held in trust.
- Limitation of set-off, etc., against trust account.
- Saving of estate agent’s rights against moneys in trust account.
- Partnership or group trust accounts.
- Council may require certified balance of trust account.
- Offences by or in respect of unregistered persons.
- Incorporated estate agents.
- Persons who may perform estate agents’ work without being registered.
- Special provisions relating to companies and partnerships.
- Supervision of employees.
- Estimation of sale price not to constitute valuation.
- Notice of registration, order, cancellation, suspension, etc.
- Information to be notified to Registrar.
- Commission or remuneration not recoverable in certain cases.
- Certain terms and conditions in sales of immovable property to be void.
- Regulations and rules.
- Alteration of Schedule.
- Prosecution not to preclude other proceedings.
- Repeal and savings.
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]
- Short title
This Act may be cited as the Estate Agents Act, [Chapter 27:17].
(1) In this Act—
“appointed member” means a member of the Council referred to in paragraph (b) subsection (1) of section