The Real Estate Agents and Brokers Bill was on Thursday evening passed in the National Assembly providing a regulatory framework for a sector that has long had a gap.
According to its Expla-natory Memorandum, Part II of the Bill provides for the interpretation of the practice of real estate business. Clause 5 provides for the circumstances in which a person would be considered to be engaging in real estate business while Clause 6 provides a list of persons who are not regarded as engaging in real estate business.
Part III of the Bill sets out the registration process for persons who wish to engage in real estate business including the application process for registration, the qualifications that are to be satisfied in order to be registered and the circumstances under which a person would not be registered.