Clause 9

in subsection (3), after “subsection (12)”, insert “or (13) or both (as the case may be)”;

in subsection (12), after “impose”, insert “for any sufficient cause for disciplinary action apart from a contravention mentioned in subsection (13)”; and

after subsection (12), insert —“(13) The maximum financial penalty that the Disciplinary Committee may impose where the Disciplinary Committee determines that a licensed estate agent or registered salesperson has contravened —

any provision of Part 4A; or

any regulation made under section 72, or any provision of a code of practice, ethics and conduct prescribed or issued and published under section 42(1), in respect of requirements relating to the detection and prevention of money laundering, proliferation financing and terrorism financing, or for the reporting of transactions suspected of involving money laundering, proliferation financing or terrorism financing,is —

in the case of a licensed estate agent — $200,000 for each contravention; and

in the case of a registered salesperson — $100,000 for each contravention.”.