s 43A Keeping and submission of reports and documents relating to transaction record of licensed estate agents
43A.—(1) The Council may, by written notice, require a licensed estate agent or a registered salesperson of a licensed estate agent to keep and submit to the Council a report containing the prescribed particulars of each property transaction completed by each client of the licensed estate agent and any supporting document.[24/2020] (2) The report or document mentioned in subsection (1) must be submitted in the form and manner, and at the frequency and within the period, specified by the Council.[24/2020] (3) Any licensed estate agent or registered salesperson who, without reasonable excuse, fails to submit a report or document required under subsection (1) in accordance with the specifications under subsection (2) shall be guilty of an offence.[24/2020] (4) Any licensed estate agent or registered salesperson who, in compliance or purported compliance with subsection (1), submits to the Council a report or document containing any information which the licensed estate agent or registered salesperson (as the case may be) knows is false or misleading shall be guilty of an offence.[24/2020] (5) For the purposes of this section, a property transaction is completed by a client of a licensed estate agent when, as a result of estate agency work done for the client (whether by the licensed estate agent or by a registered salesperson of the licensed estate agent), the client enters into any agreement for the acquisition or disposition of property, including —(a) an option to purchase; (b) a sale and purchase agreement; (c) a tenancy agreement; and (d) a lease.[24/2020]