WORK EXPERIENCE IN REAL ESTATE REGULATIONS *

WORK EXPERIENCE IN REAL ESTATE

SUBSIDIARY LEGISLATION 615.02

WORK EXPERIENCE IN REAL ESTATE

REGULATIONS *

24th December, 2021

LEGAL NOTICE 497 of 2021.

The title of these regulations is the Work Experience in

Real Estate Regulations.

In these regulations, unless the context otherwise

requires

"Act" means the Real Estate Agents, Property Brokers and

Property Consultants Act;

"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.

(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 sub-

regulation (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 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cancelled, withdrawn, not renewed or when he is no longer in a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.