Following a comprehensive examination, the NSW Government is proposing an amendment to the Property, Stock and Business Agents Regulation 2003 to require all persons licensed under the Property, Stock and Business Agents Act 2002 to have and maintain a professional indemnity insurance policy, with prescribed requirements, as a condition of holding their licence.
An exposure draft Regulation has been publicly released for public consultation before the proposed amendment is made to the Regulations to allow further consultation with stakeholders and the public.
The exposure draft Regulation and a summary sheet can be downloaded from the ‘Important documents’ section below. You can send your comments to:
Property, Stock and Business Agents Amendment (Professional Indemnity Insurance) Regulation Review
Fair Trading Policy
PO Box 972
PARRAMATTA NSW 2124
fax to: 02 9338 8990
You can also complete our quick questionnaire about the proposals in the exposure draft Regulation.
All submissions will be made publically available in due course. If you do not want your personal details or any part of your submission released, please indicate this clearly in your submission together with reasons. You should be aware, however, that even if you state that you do not wish certain information to be published, there may be circumstances in which the Government is required by law to release that information (for example, in accordance with the requirements of the Government Information (Public Access) Act 2009).
The closing date for comments and submissions is 5 October 2012.
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