A corporation licensee employs a new class 1 agent as licensee in charge of its Parramatta office. Within what time must it notify the Secretary of the appointment?
Correct Answer
D) Within 5 business days
Section 31(3) of the Property and Stock Agents Act 2002 requires an employer of a class 1 licensee in charge to notify the Secretary of the licensee's name and licence number and each place of business they will be in charge of within 5 business days. Fair Trading's guidance applies the same period to replacement licensees in charge.
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