This law · s 26

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s 26

(1)

A person shall not be appointed as a managing agent if the person has a professional or pecuniary interest in any building or land intended for subdivision into parcels.

(2)

A person is regarded as having a professional or pecuniary interest in any building or land if—

(a)

he has been responsible for the design or construction of the building;

(b)

he or any of his nominees, officers or employees has any material interest in the building or land or any part of the building or land;

(c)

he is a partner or is in the employment of a person who has any material interest in the building or land or any part of the building or land; or

(d)

he or his family holds any interest in the building or land or part of the building or land whether directly, as a trustee or otherwise.

Managing agent to lodge bond