Questions & Answers Paper No. 158 - Parliament of New South ...
Questions & Answers Paper No. 158 - Parliament of New South ...
Questions & Answers Paper No. 158 - Parliament of New South ...
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7074<br />
LEGISLATIVE ASSEMBLY QUESTIONS AND ANSWERS<br />
MONDAY 12 OCTOBER 2009<br />
I am advised by the Office <strong>of</strong> Fair Trading that the former Commissioner for Fair Trading issued a<br />
Commissioner's circular to all Fair Trading staff relating to the provision <strong>of</strong> information to members <strong>of</strong><br />
<strong>Parliament</strong>.<br />
The Commissioner's circular was consistent with a circular issued by Premier J Fahey in 1992<br />
(M1992-32).<br />
*7422 REAL ESTATE FRAUD—Mr Mike Baird asked the Minister for Fair Trading, Minister for Citizenship,<br />
and Minister Assisting the Premier on the Arts—<br />
(1) What action is the Minister taking to ensure elderly people are not victims <strong>of</strong> real estate fraud?<br />
(2) Is the Government considering any tightening <strong>of</strong> the law to ensure real estate agents cannot commit<br />
fraud or retain defrauded funds?<br />
Answer—<br />
The Office <strong>of</strong> Fair Trading advises me that:<br />
(1) Investigations into allegations <strong>of</strong> fraud are taken seriously by Fair Trading. Where sufficient<br />
evidence exists, appropriate enforcement action is taken including prosecution or licence<br />
disqualification. Recently a real estate agent was disqualified from holding a licence as a real estate<br />
agent and from being involved in the direction, management or conduct <strong>of</strong> a business <strong>of</strong> a licensee<br />
for 10 years as a result <strong>of</strong> breaching his fiduciary duty.<br />
Compliance programs are also regularly conducted which include the inspection <strong>of</strong> real estate agents<br />
trust accounts, auction programs and substantiation <strong>of</strong> selling price, particularly where a price range<br />
is advertised.<br />
(2) Real estate agents are already tightly regulated under the Property Stock and Business Agents Act<br />
2002 and the Property Stock and Business Agents Regulation 2003.<br />
The Regulation contains comprehensive rules <strong>of</strong> conduct to which agents must adhere. These<br />
enforceable rules cover issues such as fiduciary obligations; agents being required to act honestly,<br />
fairly and pr<strong>of</strong>essionally with all parties to a transaction; and dealing with conflicts <strong>of</strong> interest.<br />
The Act contains comprehensive provisions to detect and address instances <strong>of</strong> fraudulent conduct by<br />
agents. For example, agents who receive trust money are required to have their accounts audited and<br />
submit the audit to Fair Trading. The Director General can also direct spot audits <strong>of</strong> agents' accounts<br />
and freeze them if necessary.<br />
The operation <strong>of</strong> the legislation is constantly monitored and regularly reviewed to ensure it is<br />
operating as efficiently and effectively as possible. In this process, provisions that regulate potential<br />
fraudulent behaviour are always under particular consideration.<br />
*7423 REVIEW OF STAYSAFE 30 REPORT—Mr Mike Baird asked the Minister for Finance, Minister for<br />
Infrastructure, Minister for Regulatory Reform, and Minister for Ports and Waterways—<br />
(1) Has WorkCover conducted a review <strong>of</strong> the Staysafe 30 report?<br />
(2) If yes, what was the result <strong>of</strong> that review?<br />
(3) If no, does WorkCover intend to conduct the review and if so when?<br />
(4) If no review has been conducted, and it is not intended to be conducted, could the Minister please<br />
explain why?<br />
Answer—<br />
The Staysafe 30 report, released in May 1996, primarily concerns road and pedestrian safety issues.<br />
I'm advised WorkCover has considered the Staysafe 30 report and supports the initiatives taken by the<br />
City <strong>of</strong> Sydney Council as a result <strong>of</strong> the report's recommendations.<br />
*7424 MOTOR ACCIDENTS AUTHORITY—Mr Mike Baird asked the Minister for Finance, Minister for<br />
Infrastructure, Minister for Regulatory Reform, and Minister for Ports and Waterways—<br />
(1) Is the Minister aware that recent changes to legislation affecting the Motor Accidents Authority has<br />
meant some surgeons are unable to be paid because <strong>of</strong> the classification <strong>of</strong> patients under the new<br />
system?<br />
(2) Has the Minister considered any changes to overcome this inequity?<br />
Answer—<br />
(1) I am advised the changes to the Motor Accidents Compensation Act 1999 which commenced on 1<br />
July 2009 have had no affect on the arrangements for surgeons to be paid.<br />
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