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Real Estate Agents Act 2008
Miscellaneous provisions
Offences and penalties
Offences relating to Authority's powers of possession and inspection of documents
147: Offence to fail to comply with requirement to produce financial records

Part 1:
Interpretation and application

3Purpose of Act 4Interpretation 5Act binds the Crown 6Persons may not carry out real estate agency work unless licensed or exempt 7Exemption for lawyers and conveyancers 8Exemption for licensed auctioneers 9Exemption under regulations

Part 2:
Real Estate Agents Authority

Part 3:
Licensing

How to become licensed

36Entitlement to licence 37Persons prohibited from being licensed 38Application for licence 39Applicant must advertise application 40Objections to issue of licence 41Written submission in response by applicant 42Procedure in Registrar determining licence application and objection 43Registrar to license applicant or decline application

Provisions relating to licences

44Special provisions in respect of partnerships and companies 45Duty to produce evidence of issue of licence 46Term of licence 47Licence may not be transferred

Effect of licences and status of licensees

48Agent’s licence 49Branch manager’s or salesperson’s licence 50Salespersons must be supervised 51Employment status of salesperson

Renewal of licence

52Renewal of licence 53Expiry of licence

Cancellation, suspension, surrender of licence, etc

54Cancellation of licence 55Process for cancellation 56Effective date of cancellation

Suspension of licence

57Recording of suspension of licence 58Voluntary suspension of licence 59Effect of suspension of licence 60Effective date of suspension

Surrender of licence

61Voluntary surrender of licence

Temporary licence

62Temporary licence

Register of licensees

63Register of licensees 64Purpose of register 65Form of register 66Matters to be contained in register 67Obligation to notify Registrar 68Alterations to register 69Search of register 70When search constitutes interference with privacy of individual

Part 4:
Complaints and discipline

Interpretation

71Meaning of licensee in this Part

Unsatisfactory conduct and misconduct

72Unsatisfactory conduct 73Misconduct 74Complaints about licensees

Complaints Assessment Committees

75Authority to appoint Complaints Assessment Committees 76Panel 77Constitution of Committees for consideration of matters before it 78Functions of Committees 79Procedure on receipt of complaint 80Decision to take no action on complaint 81Notice of decision 82Inquiry by Committee 83Notice to licensee 84Procedure of Committee 85Powers to call for information or documents 86Compliance with requirement to provide information or document 87Negotiation, conciliation, and mediation 88Evidence 89Power of Committee to determine complaint or allegation 90Hearings on papers 91Reference of complaint to Disciplinary Tribunal 92Application for suspension of licence 93Power of Committee to make orders 94Notice of determination 95Members of Committee not personally liable 96Protection and privileges of witnesses 97Privileges and immunities of counsel 98Enforcement of orders 99Non-payment of fines or costs

Real Estate Agents Disciplinary Tribunal

100Real Estate Agents Disciplinary Tribunal established 101Constitution of Tribunal for hearings 102Functions of Tribunal 103Services for Tribunal 104Further provisions in relation to Tribunal and its proceedings 105Proceeding before Tribunal 106Representation before Disciplinary Tribunal 107Hearings 107AHearing on papers 108Restrictions on publication 109Evidence 109ADisciplinary Tribunal may strike out, determine, or adjourn proceeding 110Determination of charges and orders that may be made if charge proved 110ACosts 111Appeal to Tribunal against determination by Committee 112Application to Tribunal to review determination by Registrar 113Notification by Tribunal 114Enforcement of order 115Suspension of licence pending outcome of hearing 115APractice notes 115BOnline publication of information about procedures, time frames, and progress of decisions

Appeals against decisions of Tribunal

116Right of appeal 116ATime for appeal to High Court 117High Court may make interim order 118Duties of Registrar if interim order made 119Determination of appeal 120Appeal to Court of Appeal on question of law 120ATime for appeal to Court of Appeal

Part 5:
Duties relating to real estate agency work

Business to be identified

121Agent to display required name information

Receipt of money and audit of accounts

122Duty of agent with respect to money received in course of business 123Money to be held by agent for 10 working days 124Agent to furnish account to client 125Agents’ trust accounts to be audited

Agency agreements

126No entitlement to commission or expenses without agency agreement 127Approved guide to be provided before agency agreement for residential property signed 128Agency agreement must disclose rebates, discounts, and commissions 129Regulations may make provisions in respect of agency agreements 130Client may cancel sole agency agreement by 5 pm next working day 131Parties may cancel sole agency agreements in respect of residential property 90 days after agreement is signed

Disclosure of information as to transaction and conflicts of interest

132Licensee to give copy of contractual document 133Approved guide to be provided when contractual document provided 134Contracts for acquisition by licensee or related person may be cancelled 135Client to be provided with valuation 136Disclosure of other benefits that licensee stands to gain from transaction 137Meaning of licensee and person related to licensee in sections 134 to 136

Part 6:
Miscellaneous provisions

Offences and penalties

138General penalty 139Forfeiture for certain offences 140Offences to be punishable on summary conviction

Offences relating to requirement to be licensed

141Offence to carry on business of agent, branch manager, or salesperson unless licensed or exempt 142Offence of holding out as agent, branch manager, or salesperson unless licensed or exempt 143Offence of employing or contracting unlicensed or non-exempt person as agent, branch manager, or salesperson

Offences relating to application for licence

144Offence to provide false or misleading information 145Offence to fail to notify change in circumstances

Offences relating to Authority's powers of possession and inspection of documents

146Offence to fail to comply with requirement to give possession of documents 147Offence to fail to comply with requirement to produce financial records

Offences relating to requirements for real estate transactions

148Offence to fail to provide information or document 149Offence to fail to pay person lawfully entitled to money received 150Offence to fail to hold money 151Offence to fail to disclose conflict of interest 152Offence to render false accounts

Offences relating to investigation

153Offence to resist, obstruct, etc

Offences relating to witness summonses and contempt of Tribunal

153AOffence to fail to comply with summons 153BContempt of Tribunal

Service

154Service of notice and documents

Civil remedies

155Civil remedies not affected

Regulations

156Regulations

Provisions relating to repeal of Real Estate Agents Act 1976

Repeal of Real Estate Agents Act 1976

157Repeal of Real Estate Agents Act 1976 158Transfer of assets and liabilities 159Membership of REINZ

Winding up of Fidelity Guarantee Fund

160Continuation of certain provisions of Real Estate Agents Act 1976 161Claims in relation to Real Estate Agents Fidelity Guarantee Fund 162Public notice of last day for making claims 163Winding up of Real Estate Agents Fidelity Guarantee Fund 164Application of Real Estate Agents Fidelity Guarantee Fund on winding up

Transitional provisions

165Continuation in office for purposes of transitional provisions 166Agents licensed under Real Estate Agents Act 1976 167Salespersons and branch managers approved under Real Estate Agents Act 1976 168Continuing effect of permits issued under Real Estate Agents Act 1976 169Applications pending at commencement of this section to be dealt with under Real Estate Agents Act 1976 170Continuing effect of agency agreements entered into before repeal of Real Estate Agents Act 1976 171Continuation of pending disciplinary proceedings 172Allegations about conduct before commencement of this section 173Amendments to other enactments

Schedule 1:
Provisions relating to Tribunal

Schedule 2:
Amendments to other enactments

Real Estate Agents Act 2008

Miscellaneous provisions - Offences and penalties - Offences relating to Authority's powers of possession and inspection of documents

147: Offence to fail to comply with requirement to produce financial records

You could also call this:

"Breaking the law by not showing financial records when asked"

Illustration for Real Estate Agents Act 2008

You can commit an offence if you do not comply with a notice to produce financial records. This notice is given under section 30(2) of the Act. You must have a reasonable excuse to not comply with the notice to produce financial records and let someone from the Authority inspect and copy them.

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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=DLM1358236.

Topics:

Money and consumer rights > TaxesBusiness > Industry rules

146: Offence to fail to comply with requirement to give possession of documents, or

"Not giving documents to the Authority when asked can be against the law"

148: Offence to fail to provide information or document, or

"Breaking the law by not giving information when asked"

Part 6Miscellaneous provisions
Offences and penalties: Offences relating to Authority's powers of possession and inspection of documents

147Offence to fail to comply with requirement to produce financial records

A person commits an offence who, without reasonable excuse, fails to comply with a requirement stated in a notice given under section 30(2) to produce financial records and to permit a person authorised by the Authority to inspect and copy those records.