Changes to PSBA Regulations

Changes to PSBA Regulations
Among the changes made were:
  • streamlining legislation
  • introducing unique identifying numbers to help Fair Trading monitor agents' trust accounts and safeguard consumer funds
  • accommodating modern technology for records and communication
  • warning sellers if a commission is payable even if they pull out of the sale
  • allowing a body corporate or association to obtain information about its invested money when the managing agent has not complied with their obligations.

A full summary of the changes can be found here.