ESTATE AGENTS ACT

Arrangement of Sections

   Section

PART I
PRELIMINARY

   1.   Short title

   2.   Interpretation

PART II
THE ZAMBIA INSTITUTE OF ESTATE AGENTS

   3.   Establishment of institute

   4.   Seal of institute

   5.   Functions of institute

   6.   Registrar and other employees

   7.   Membership of Institute

PART III
THE COUNCIL OF THE ZAMBIA INSTITUTE OF ESTATE AGENTS

   8.   Council of Institute

PART IV
REGISTRATION OF ESTATE AGENTS

   9.   Register of Estate Agents

   10.   Powers of Registrar

   11.   Application for registration as Estate Agent

   12.   Qualifications for registration as Estate Agent

   13.   Procedure for registration

   14.   Certificate of registration

   15.   Publication of copies of register

   16.   Restrictions on practice

PART IV
PROFESSIONAL CONDUCT AND DISCIPLINE

   17.   Professional conduct

   18.   Disciplinary Committee

   19.   Functions of Disciplinary Committee

   20.   Powers of Disciplinary Committee

   21.   Disciplinary penalties, etc

PART VI
MANAGEMENT OF CLIENT’S MONEY

   22.   Meaning of “client”

   23.   Client account

   24.   Money to be paid into client account

   25.   Money which need not be paid into client account

   26.   Withdrawing of money from client account

   27.   Regulations for management of clients’ money

   28.   Segregation of account books and accounts

PART VII
ESTATE AGENTS’ COMPENSATION FUND

   29.   Compensation Fund

   30.   Compensation Fund certificates

   31.   Insurance of Fund

   32.   Money of Fund

   33.   Grant out of Fund

   34.   Rules of Fund

   35.   Audit of Fund

PART VIII
OFFENCES AND PENALTIES

   36.   Prohibition of practicing without registration or while on suspension

   37.   Prohibition of registration through fraud, etc

   38.   Penalties for offences

PART IX
MISCELLANEOUS

   39.   Fees and charges for services

   40.   Submission of annual report to Minister

   41.   Dissolution, vesting of assets and liabilities of former Institute and continuation of proceedings

   42.   Appeals

   43.   Regulations

      FIRST SCHEDULE

      SECOND SCHEDULE

AN ACT

to provide for the regulation of the practice and business of Estate Agents; to provide for the establishment of the Zambia Institute of Estate Agents and for its functions and membership; to provide for the establishment of the council of the institute and for its functions and composition; to provide for the registration of Estate Agents and for their professional conduct and discipline; to provide for the management of clients’ money by Estate Agents in the course of business and for the establishment of an Estate Agents Compensation Fund; and for other matters connected with incidental to the foregoing.

[29th December, 2000]

Act 21 of 2000.

PART I
PRELIMINARY

1.   Short title

This Act may be cited as the Estate Agents Act.

2.   Interpretation

(1) In this Act, unless the context otherwise requires—

“council” means the council of the Zambia institute of Estate Agents established under section 8;

“Estate Agent” means a person who is registered as an Estate Agent under sub-section (3) of section 12 or under section 13;

“former institute” means the Zambia institute of Estate Agents registered as a society under the Societies Act;

“Fund” means the Estate Agents Compensation Fund established under section 29;

“immovable property” includes any interest therein, but does not include a mine, a quarry or a mineral;

“institute” means the Zambia institute of Estate Agents established by section 3;

“Registrar” means the person appointed Registrar under section 6.

   (2) For the purposes of this Act, to practice or carry on business as an Estate Agent means, subject to sub-section (3) to do for payment or reward any of the following acts—

      (a)   bringing together or taking steps to bring together the parties to a sale or lease or proposed sale or lease; or

      (b)   negotiating the terms of a sale or lease or a proposed sale or lease, in the course of business in connection with immovable property belonging to another person.

   (3) For the purposes of this Act, the following persons shall not be regarded as practicing or carrying on business as an Estate Agent—

      (a)   a person who does an act reffered to in sub-section (2) in connection with immovable property belonging to that person or to that person’s employer or which is to be purchased by that person’s employer;

      (b)   a person in the bona fide employment of an Estate Agent whilst that person is working under the direction and control of the Estate Agent;

      (c)   an administrator or executor of the estate of a deceased person, in relation to that estate;

      (d)   a trustee, liquidator or judicial manager whilst exercising any powers conferred upon that person by the law relating to insolvency;

      (e)   the Sheriff and other officers, in the performance of their functions under the Sheriffs Act;

      (f)   a legal practitioner, an accountant or a valuation surveyor in the course of practising as such;

      (g)   a public officer;

      (h)   a person employed by a Bank or financial institution whilst carrying out the functions of the Bank or financial institution; or

      (i)   any other person who, or any category of persons which, the Minister may, by a statutory instrument declare as not being regarded as practising or carrying on business as an Estate Agent.

PART II
THE ZAMBIA INSTITUTE OF ESTATE AGENTS

3.   Establishment of institute

There is hereby established the Zambia institute of Estate Agents which shall be a body corporate with perpetual succession and a common seal, capable of suing and being sued in its corporate name and with power, subject to the provisions of this Act, to do all such acts and things as a body corporate may by law do or perform.

4.   Seal of institute

   (1) The seal of the institute shall be such device as may be determined by the council and shall be kept by the Registrar.

   (2) The council may use a wafer or rubber stamp in lieu of the seal.

   (3) The affixing of the seal shall be authenticated by the Chairperson or the Vice-Chairperson, and the Registrar or one other person authorised in that behalf by a resolution of the council.

   (4) Any contract or instrument which, if entered into or executed by a person not being a body corporate, would not require to be under seal may be entered into or executed without seal on behalf of the institute by the Registrar or any other person generally or specifically authorised in that behalf by the institute.

5.   Functions of institute

The functions of the institute shall be—

      (a)   to promote and regulate the practice and business of Estate Agents;

      (b)   to promote and maintain best standards and practices in the business of Estate Agents;

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