Western Australian Numbered Acts

RESIDENTIAL PARKS (LONG-STAY TENANTS) ACT 2006 (NO. 32 OF 2006) - SECT 58

58 .         Park operator’s authority to act as selling agent

        (1)         When a park operator acts as a selling agent under a selling agency agreement, the park operator is not required to hold —

            (a)         a licence of an agent under the Real Estate and Business Agents Act 1978 ; or

            (b)         a dealer’s licence under the Motor Vehicle Dealers Act 1973 .

        (2)         However, when the park operator receives any money under the selling agency agreement (except commission payable to the park operator under the agreement) the park operator must —

            (a)         deposit the money in a separate ADI account opened in the name of the park operator and the long-stay tenant and entitled “sale trust account”; and

            (b)         when the sale is completed, pay the proceeds at the direction of the tenant after deducting in accordance with the selling agency agreement any amounts owing to the park operator by way of expenses or commission.

        (3)         The Real Estate and Business Agents Act 1978 section 68(2), (3), (4), (5) and (6) apply to the sale trust account as if a reference in those subsections to an agent and to a trust account were a reference to the park operator and to the sale trust account respectively.