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Ending your property licence

Your licence or registration certificate may end for a number of reasons, such as:

  • it expires and you don’t renew it
  • you choose to surrender the licence
  • we cancel or suspend the licence.

You may not transfer your licence or registration to another person for any reason.

Surrendered licence

You must contact us in writing to surrender your licence or registration. You will need to:

  • immediately return your licence or registration certificate to us
  • finalise and close any trust accounts
  • notify us when your trust accounts are closed
  • give us a final audit of each trust account within 2 months of closing it.

The licence will be invalid from the day you surrender it.

You may only submit your notice:

Cancelled licence

We will immediately cancel your licence or registration if you, a partner or an executive officer are convicted of a serious offence. A serious offence is anything punishable by 3 or more years in prison, including:

  • violent offences (including threats to use violence)
  • fraud and dishonesty
  • drug trafficking
  • extortion
  • arson
  • unlawful stalking
  • an offence of a sexual nature.

We will also immediately cancel your licence if you are:

  • an individual and you become bankrupt or insolvent
  • a corporation and the corporation is wound up or struck off.

If we cancel your licence, you must stop trading immediately. You will have 14 days to return your licence.

Suspended licence

We may suspend your licence if:

  • we consider the licence was obtained because of materially incorrect or misleading information
  • we suspect an irregularity with your trust account
  • you have failed to file an audit report
  • a receiver is appointed over your property
  • you breach or we believe you have breached the Property Occupations Act 2014 or the Property Agents and Motor Dealers Act 2000.

We can suspend your registration if:

  • we consider the registration certificate was obtained because of materially incorrect or misleading information
  • a licensee’s trust account is irregular or deficient, and you may be responsible
  • you breach or we believe you have breached the Property Occupations Act 2014 or the Property Agents and Motor Dealers Act 2000.

In these circumstances, we will:

  • suspend your licence or registration
  • give you a written notice within 14 days.

You must stop trading immediately. You will have 14 days to return your licence.