Mia's NSW assistant agent certificate of registration expires next month. She has not finished the units needed for a class 2 licence and has no exceptional circumstances to rely on. What happens when the certificate expires?
Correct Answer
A) She must stop working as an assistant agent and cannot apply for a new certificate for 12 months.
Under s 26A of the Property and Stock Agents Act 2002 a certificate of registration runs for 4 years, and s 26B says it cannot be renewed or restored and a new one cannot be sought within 1 year of expiry. Fair Trading's guidance states that an assistant agent who has not progressed to class 2 within the 4 years must stop working and cannot apply for a new certificate for 12 months.
Why This Is the Correct Answer
The certificate is non-renewable and s 26B imposes a 12-month wait before a new application, so Mia must stop work.
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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