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Real Estate Agents Act 2008

Miscellaneous provisions - Provisions relating to repeal of Real Estate Agents Act 1976 - Transitional provisions

170: Continuing effect of agency agreements entered into before repeal of Real Estate Agents Act 1976

You could also call this:

"Old contracts keep old rules until renewed"

Illustration for Real Estate Agents Act 2008

You have contracts that started before the Real Estate Agents Act 1976 was repealed. These contracts keep being governed by the old Act. You can find more information about these contracts in section 62(b) of that Act. If you want to renew one of these contracts, it must follow the rules in section 126. This means the new contract is governed by the new rules. The old rules still apply to work done before the new rules started. The old rules in section 62 of the Real Estate Agents Act 1976 still apply to work done by real estate agents before the new rules began. This includes any services or work performed before section 157 started. These old rules continue to govern this work.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1358246.

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Business > Industry rulesHousing and property > Buying and selling homes
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Part 6Miscellaneous provisions
Provisions relating to repeal of Real Estate Agents Act 1976: Transitional provisions

170Continuing effect of agency agreements entered into before repeal of Real Estate Agents Act 1976

  1. The repeal by section 157 of the Real Estate Agents Act 1976 does not affect the continuation of any subsisting contracts of the kind described in section 62(b) of that Act, and any such contract continues to be governed by that Act.

  2. A contract of the kind described in subsection (1) may be renewed only by an agency agreement to which section 126 applies.

  3. Section 62 of the Real Estate Agents Act 1976 continues to apply to any service or work performed, before the commencement of section 157, by any person as a real estate agent under that Act.