Real Estate Agents Act 2008

Real Estate Agents Authority - Powers of intervention

30: Authority may inspect certain financial records

You could also call this:

"The Authority can check financial records to find out if a real estate agent has stolen money."

Illustration for Real Estate Agents Act 2008

The Authority can check certain financial records if they think money given to a real estate agent has been stolen. You might wonder who could have stolen the money - it could be the agent, someone who works for the agent, or an officer of the company that is the agent. The Authority can ask anyone who has these records, like a banker, to show them to someone the Authority chooses. The Authority can ask to see records that show what happened to money received by the people who might have stolen it. You can be asked to let the Authority's person inspect and copy these records. The Authority does this by sending a notice to the person who has the records, and this is similar to what is outlined in s 89.

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This page was last updated on 30 October 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1152001.

Topics:

Money and consumer rights > Consumer protectionHousing and property > Buying and selling homes

29: Authority may direct audit of agent's trust account, or

"The Authority can order a check of an agent's trust account at any time."

31: District Court Judge may order Authority to return documents, or

"A judge can order the return of an agent's documents taken by the Authority."

Part 2Real Estate Agents Authority
Powers of intervention

30Authority may inspect certain financial records

This section applies if the Authority has reasonable grounds to believe that any money entrusted to an agent or to any person acting on behalf of the agent has been stolen by any of the following persons:
by the agent or by a person who is, or has been, employed or engaged by the agent:
in the case of a company that is an agent, by a person who is, or has been, an officer of the company or who is, or has been, employed or engaged by the company.

The Authority may, by notice, require any person (including, without limitation, any banker) who has possession or control of financial records or other records that relate to any money received by any person specified in subsection (1) to produce those records to a person authorised by the Authority and to permit that person to inspect and copy those records.

Compare

s 89