A director of a Southbank estate agency has been penalised $1,000 for contraventions of Victoria's estate agent laws.
Consumer Affairs Victoria took action in the Victorian Civil and Administrative Tribunal against Sedinsi Pty Ltd (which operated as Daly Property Group - ACN: 057261195) and its director and officer in effective control, Peter Murray Daly, 58, of Malvern, alleging a number of contraventions under the Estate Agents Act 1980.
The tribunal found that Sedinsi and Mr Daly had failed to:
- keep full and accurate trust accounting records
- have Sedinsi's trust accounts audited within three months after the end of the 2012-2015 financial years (inclusive)
- lodge a copy of an audit report within 10 days of receiving it
- make all records available for inspection
- comply with an inspector's requirement.
Mr Daly has also failed to meet the requirements of an office in effective control to:
- control and supervise
- establish procedures, and
- monitor a business to ensure compliance.
Many of the contraventions came to our attention during an inspection of Sedinsi's premises, and others as a result of our inquiries following up the late lodgement of an audit report.
Mr Daly and Sedinsi were also reprimanded.