A class 2 agent missed her renewal and her licence expired six weeks ago. She has not been granted any extension. What is her best option?
Correct Answer
B) Apply to restore it; a restored licence runs from the day it expired.
Section 25A of the Property and Stock Agents Act 2002 allows an application to restore a licence within 3 months of expiry (or a longer period the Secretary allows). Under s 25A(5) a restored licence is taken to have been restored from the day it expired. After 3 months without an extension, Fair Trading says the person must reapply.
Why This Is the Correct Answer
At six weeks she is inside the 3-month restoration window, and restoration dates back to expiry.
Why the Other Options Are Wrong
Background Knowledge for Agency Practice
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Common Mistakes to Avoid on Agency Practice Questions
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A buyer paid an expression of interest deposit on a NSW house, but the vendor then exchanged contracts with a different buyer. What is the first buyer entitled to?
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