ISLAMABAD REAL ESTATE AGENTS AND MOTOR VEHICLES DEALERS (REGULATION OF BUSINESS) RULES, 1984

ISLAMABAD REAL ESTATE AGENTS AND MOTOR VEHICLES DEALERS (REGULATION OF BUSINESS) RULES, 1984

[Gazette of Pakistan, Extraordinary, Part II, 19th July, 1984]

S. R. O. 644 (1)/84.--In exercise of the powers conferred by section 12 of the Islamabad Real Estate Agents and Motor Vehicles Dealers (Regu­lation of Business) Ordinance, 1984 (XIII of 1984), the Federal Government is pleased to make the following rules, namely :-

1. Short title and commencement.---(1) These rules may be called the Islamabad Real Estate Agents and Motor Vehicles Dealers (Regulation of Business) Rules, 1984.

(2) They shall come into force at once.

2. Definitions.---(1) In these rules, unless there is anything repugnant in the subject or context,-

(a) "certificate" means a certificate of registration issued under section 3 and includes a certificate of renewal of registration issued under action 6 ;

(b) "Form" means a form appended to these rules ;

(c) "Ordinance" means the Islamabad Real Estate Agents and Motor Vehicles Dealers (Regulation of Business) Ordinance, 1984 (XIII of 1984);

(d) "ordinary place of business" means a place where a real estate agent or a motor vehicles dealer ordinary carries on his business ;

(e) "section" means a section of the Ordinance ;

(f) "transaction" means a transaction referred to in clause (b) or, as the case may be, clause (c) of section 2 ; and

(g) "treasury" means a Government treasury or sub-treasury of a branch of a bank authorised by Government to receive payment on its behalf.

(2) All other words and expressions used but not defined in these rules shall have the same meanings as in the Ordinance.

3. Application for registration.---(1) An application for registration as a real estate agent or a motor vehicles dealer shall be in Form-I which shall be duly signed and verified by the applicant and shall be accompanied by a receipt showing the deposit of the fee of two thousand rupees into the treasury and the proof of furnishing the security of ten thousand rupees in the manner specified in rule 5.

(2) Where the applicant is a firm, the application shall be signed and verified by all the partners of the firm and where the applicant is a com­pany, the application shall be signed and verified by the person authorised under the Memorandam and Articles of Association of the company to sign the and verify instruments on behalf of the company.

(3) The application shall be presented before the registering authority either in person by the applicant or his agent duly authorised by him for the purpose or sent by registered post (acknowledgment due.)

4. Application for renewal of certificate.---(1) An application for renewal of the certificate shall be in Form-II which shall be duly signed and verified by the applicant and presented or sent in the same manner as the application for registration under rule 3.

(2) An application for renewal of the certificate shall be made within thirty days preceding the date of expiry of the certificate and shall be accompanied by a receipt showing the deposit of the renewal fee of six hundred rupees into the treasury.

5. Security deposit.---(1) The security to be furnished by a real estate agent or a motor vehicles dealer shall be in the form of cash or bank guarantee or postal certificates or Defence Saving Certificates.

(2) The cash security and other fees under these rules shall be deposited in the treasury under Head "0289-Other Receipts-Real Estate Agents and Motor Vehicles Dealers Registration Fee."

(3) The cash security shall be refunded on the cancellation of a certificate of registration or on the expiry of the certificate if the real estate agent or the motor vehicles dealer does not intend to continue the business.

(4) The bank gurantee or the postal certificate or the Defence Saving Certificates, as the case may be, shall be released after expiry of the dura­tion of the licence and on application made by the licensee in writing in this behalf.

6. Proof of particulars.---(1) Before granting a certificate of registra­tion, the registering authority may call upon the applicant to appear before it and satisfy that the particulars given in the application are correct and that the applicant does not suffer from any of the disqualifications specified in section 4.

(2) The registering authority may demand such other information or make such other inquiries as it may consider necessary to satisfy that the applicant is entitled to the grant of the certificate.

(3) The registering authority, for the purpose of renewing a certificate, shall not call upon the applicant to appear before it to satisfy itself that the particulars given in the application are correct or to make any inquiries unless it is in possession of some prima facie evidence of the fact that the applicant has suffered from any of the disqualifications specified in section 4 or is otherwise unfit to hold a certificate.

(4) In case the registering authority decides not to grant a certificate or renew it, it shall record the reason, therefor and shall supply a copy of its order to the applicant.

7. Certificate of registration and its renewal.---(1) In case where the registering authority decides to grant a certificate to an applicant, it shall issue a certificate in Form-III.

(2) The renewal of a certificate shall be made in the form of an endorsement under the certificate duly signed by the registering authority.

(3) The certificate shall be non-transferable.

(4) Where there is an introduction of a new partner in a firm holding a certificate as real estate agent or a motor vehicles dealer, the firm shall make an application to the registering authority indicating the name and other particulars of the new partner.

(5) The application regarding any change in the constitution of a firm shall be accompanied by a certificate issued by the Registrar under the Partnership Act, 1932 (IX of 1932).

(6) The registering authority, on being satisfied that the new partner is not disqualified or unfit to hold a certificate, shall make necessary entries in the certificate and the register of certificates maintained under rule 8.

(7) The certificate shall be exhibited at some prominent place in the ordinary place of business of the certificate holder.

8. Register of certificates.---(1) The registering authority shall maintain a register of certificates in Form IV containing particulars of the certificates, issued by it and renewed from time to time.

(2) Where the certificate holder decides to change the ordinary place of his business within the Capital Territory, he may make an application to the registering authority accompanied by the original certificate and the registering authority may, on being satisfied about the correctness of the change of the ordinary place of business, revise the place of business entered in the certificate and may also make necessary changes in the register of certificates.

9. Maintenance of records and accounts.----(1) A certificate holder shall maintain the following record at his ordinary place of business, namely :-

(a) A register in Form V containing the particulars of transactions arranged or negotiated by him.

(b) A receipt book in Form VI with each page serially numbered and containing particulars of the payments received by the certificate holder in respect of transactions arranged or negotiated by him from time to time.

(2) Every transaction arranged or negotiated by the certificate holder shall be entered by him in the register forthwith.

(3) The certificate holder shall immediately issue a regular receipt for every payment received by him in respect of a transaction arranged or negotiated by him.

(4) The register and the receipt book maintained under sub-rules (1) and (2) shall not be destroyed by the certificate holder without the previous permission in writing of the registering authority.

10. Inspection and production of record.----(1) The registering authority or any other officer of the Excise and Taxation Department, not below the rank of Inspector, may inspect the record maintained by the certificate holder under rule 9 and make any note thereon or take any extract there­from.

(2) The registering authority may at any time call upon the certificate holder to bring and produce before him the record maintained by him under rule 9.

11. Annual return.---(1) A certificate holder shall submit to the re­gistering authority within one month of the close of every financial year a return in Form VII.

(2) The registering authority may require a certificate holder to supply him such additional information in respect of transactions arranged or negotiated by him or in respect of the record maintained by him and the certificate holder shall supply such information within such time as may be required by the registering authority.

12. Rate of commission or remuneration.---(1) The rate of commission and other remuneration chargeable by a real estate agent on a transaction arranged or negotiated by him shall not exceed-

(a) half a month's rent in the case of a transaction of lease or tenancy ;

(b) one per cent of the amount of consideration involved in transactions of mortgage ; and

(c) one per cent of the value of the property involved in transactions other than those mentioned in clauses (a) and (b).

(2) The rate of commission and other remuneration chargeable by a motor vehicles dealer shall not exceed one-half per cent of the value of the motor vehicles sold, exchanged or transferred or that of the amount against which the motor vehicles is pledged.

(3) The maximum rates chargeable under sub-rules (1) and (2) are the rates chargeable in respect of a transaction irrespective of whether the com­mission and other remuneration is payable by one of the parties only or by both the parties to the transaction severally or collectively.

13. Appeal.---(1) Any person aggrieved by an order of the registering authority passed by it under these rules may prefer an appeal to the Direc­tor, Excise and Taxation, within thirty days of the communication of the order to him.

(2) An appeal may be admitted by the Director, Excise and Taxation, after the period of thirty days mentioned in sub-rule (1) if the applicant satisfies the appellate authority that he had sufficient cause for not prefer­ring the appeal within the prescribed period.

(3) The appeal under sub-rule (1) shall be preferred in the form of a memorandum bearing the court-fee mentioned m column (3) of item 11 (aa) of Schedule 11 to the Court-Fees Act, 1870 (VII 4 1870), shall be duly signed by the appellant, shall be presented to the appellate authority or to such officer as it appoints in this behalf and shall be accompanied by a copy of the order appealed against unless the appellate authority dispenses with this requirement.

(4) The appellate authority shall not give its decision unless the person concerned has been given a reasonable opportunity of being heard.

(5) The decision of the appellate authority shall be final.

[Note.-For Forms I to IV please see Gazette of Pakistan, Extraordi­nary, Part II, dated 19th July, 1984, pages 1297