WORK EXPERIENCE IN REAL ESTATE [ S.L. 615.02 1 SUBSIDIARY LEGISLATION 615.02 WORK EXPERIENCE IN REAL ESTATE REGULATIONS* 24th December, 2021 LEGAL NOTICE 497 of
- The title of these regulations is the Work Experience in Real Estate Regulations. Citation.
- requires: Interpretation. In these regulations, unless the context otherwise "Act" means the Real Estate Agents, Property Brokers and Property Consultants Act; Cap.
- "Board" means the Licensing Board established under Part V of the Act; "licence" means a licence issued by the Board in accordance to the provisions of the Act to exercise the activity of a property broker, or real estate agent or to act as a branch manager or property consultant; "permission" means permission to attend a period of work experience in terms of these regulations. 3.
(1)Every person who intends to obtain a licence in terms of the Act, and until such licence is obtained, desires to gain work experience in real estate, may submit an application to the Board using the prescribed form, requesting permission to undertake a period of work experience with a licensed property broker or real estate agent or a branch manager and assist in the functions of the property broker, real estate agent or branch manager under his regular supervision.
(2)Every person who submits an application under subregulation
(1)shall: (
- a)state the details of the licensed property broker or real estate agent or branch manager with whom he intends to gain the work experience; (
- b)include a declaration from the licensed property broker or real estate agent or branch manager with whom the applicant intends to gain the work experience, which declaration is to confirm that the applicant shall be placed under the regular supervision of the same property broker, real estate agent or branch manager. *These Regulations have been transposed to Cap. 644, vide S.L. 644.01 and Act XXVII of 2024. Work experience. 2 [ S.L. 615.02 WORK EXPERIENCE IN REAL ESTATE
(3)The Board shall issue a one–time permission for a period not exceeding twelve
(12)months upon being satisfied that the applicant meets the requirements of sub-regulation
(2).
(4)Any permission issued in terms of these regulations shall be terminated ipso jure when the licensed property broker or real estate agent or branch manager retires, dies, has his license suspended, cancelled, withdrawn, not renewed or when he is no longer in a position to provide the applicant with the required supervision: Provided that the licensed property broker or real estate agent or branch manager is bound to inform the applicant immediately upon deciding to retire, his license being suspended, cancelled, withdrawn or not renewed and when he is no longer in a position to provide the applicant with the required supervision: Provided further that the applicant is bound to inform the Board within fifteen
(15)days of the permission being terminated in terms of this regulation by using the prescribed form.
(5)Any permission issued in terms of these regulations shall not in any way be interpreted or regarded as a grant of any form of permission to appear upon and conclude transactions.