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Dormant partners not required to hold an estate agent's licence


Any person who is a member of a partnership carrying on an estate agency business is not required to obtain an estate agent's licence if:
 
(a) he is not engaged in the partnership business as an estate agent;
 
(b) he is not an unfit person; and
 
(c) at least one other member of that partnership is a licensed estate agent.
 

Who is an "unfit person"?

 

An "unfit person" is one who:

 

(a) in the case of an individual, is an undischarged bankrupt, or has, within the 5 years immediately prior to the day on which EAA considers, or, where appropriate, begins to consider whether he is an unfit person, made a composition or scheme of arrangement with his creditors;
 
(b) in the case of a company, is in liquidation or is the subject of a winding-up order, or in relation to whom there is a receiver appointed, or who has, within the 5 years specified in (a) above, entered into a composition or scheme of arrangement with its creditors;
 
(c) is a director or officer of a company which is for the time being disqualified under the Estate Agents Ordinance for holding a licence, or was a director or other officer of that company at the date when the company was so disqualified;
 
(d) is a mentally disordered person, or a patient, within the meaning of section 2 of the Mental Health Ordinance (Cap. 136);
 
(e) has been convicted, whether in Hong Kong or elsewhere, of any offence (other than an offence under the Estate Agents Ordinance), as regards which conviction it was necessary to find that the person acted fraudulently, corruptly or dishonestly; or
 
(f) has been convicted of an offence under the Estate Agents Ordinance in respect of which he has been sentenced to imprisonment, whether the sentence is supsended or not.
 

 

For more details, please see section 3 of the Estate Agents (Exemption From Licensing) Order.
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