There are a number of reasons why you may be disqualified from holding a licence or certificate of registration under the Property, Stock and Business Agents Act 2002.
A person is disqualified from holding a licence of certificate of registration (unless the Director-General has determined that the offence should be ignored) if the person:
A person may be disqualified from holding a licence under the Act if they are an undischarged bankrupt, or, in the last 3 years as an undischarged bankrupt:
unless the Director-General is satisfied that the person took all reasonable steps to avoid the bankruptcy or other financial difficulties concerned.
The disqualification provisions relating to bankruptcy or involvement with a failed company do not apply to certificate holders. Certificate holders work under the supervision of a licensee who has an explicit duty in relation to supervision.
A corporation may be disqualified from holding a licence under the Act if, at any time in the last 3 years, they were a director or person concerned with the management:
This does not apply in cases of voluntary winding up of the corporation.
A person is a disqualified person if the Director-General is satisfied they failed to take all such steps to avoid the body corporate becoming externally administered. The Director-General will serve a notice, giving the person the opportunity to make a submission about why they believe they took all the reasonable steps, within a period not being less than 14 days.
A licensee can be disqualified:
A person may also be disqualified if they have been suspended or disqualified from holding an authority under another Act administered by the Minister of Fair Trading. The Director-General can overrule such a disqualification, at their discretion, if it is not relevant.
You can download the full disqualified persons list from the Property Stock and Business Agents Act on the NSW Legislation website for more information about instances where a person can be disqualified or suspended from holding a license or certificate of registration.