Convicted estate agent not eligible to hold licence

An estate agent was engaged in some other business before he obtained his estate agent's licence. After he obtained his estate agent's licence, as the result of acts committed in his former business, he was convicted of conspiracy to defraud a bank contrary to the Theft Ordinance and was sentenced to community service.

The Estate Agents Ordinance provides that an individual shall not be eligible to continue to hold an estate agent's licence unless the Authority considers him a fit and proper person to hold the licence. In determining whether or not a person is a fit and proper person to hold a licence, the Authority shall have regard to any conviction of the person for any offence, being a conviction as regards which it was necessary to find that the person acted fraudulently, corruptly or dishonestly. This is to protect public interest as estate agents would have a lot of opportunities to handle clients' monies.

The estate agent said that he was given a slight sentence as no real loss was suffered by anyone. There was only some problem with a letter of credit and the Police arrested him for forging documents to defraud the bank. He admitted that he was engaged in some other business and not practising estate agency and that whether he was granted a licence or not would not have any effect on his livelihood.