Amendment VEAP Act 1981 TPC =E2=80=93 Law Q5
18/06/2018= 18/06= /2018 Thomas Sim PEA2066
Q.

There are some interesting things in t= he amended NEW Valuers, Appraisers, Estate Agents and Property Managers Act= , 1981 (amended 2017). What are they?

A.

https://justletak.blogspot.my/2= 018/03/amendment-to-vaea-act-1981.html

5 key points are:

Better definition of EAP as inside t= he Section, not just under Interpretation (S.2)
EAP includes tenancy administration = (rental collection, payment of outgoings, arrangement for minor repairs)
Not allowing "Consultant" be used by= others in EAP
Negotiator has a firm position to as= sist the REA
Foreigners are now allowed registrat= ion if qualified
The few reasons for the above amendment were:

The Property Managers are being registered in 2018, and being involved i= n tenancy administration, Estate Agency Practice has overlapping areas with= property management. This involvement would add value to the landlord, hen= ce the overlapping area is to be defined and given due recognition.

Negotiator had never been given a legal recognition in the Act 1981 befo= re this amendment. Now, the term "Negotiator" is given due recognition in t= he Act, under S.22C. This section has "exception" to EAP, and now it includ= es "negotiator" as one of the allowable person to conduct EAP, but under th= e pretext of "assisting" the REA.

The foreigner being allowed for registration is inline with the introduc= tion of TTP - Trans-Pacific Partnership, where cross-border practice b= e allowed in the future. However, in the 11 hours, US withdrew its signatur= e. (Wikipedia)