LICENCE CANCELLATION

All licences are perpetual unless suspended, surrendered or cancelled.
Automatic cancellation of an individuals licence in accordance with the Estate Agent’s Act 1980

1. Individual estate agent's licence is automatically cancelled if a licensee:

* becomes insolvent under administration
* becomes a represented person within the meaning of the Guardianship and Administration Board Act 1986
* fails to comply with annual statement and annual licence fee requirements
* is made the subject of an order by any regulatory body in or outside Victoria disqualifying him or her from acting as an estate agent or agent's representative.

Permission

2. Unless a licensee applies to the BLA for permission, the licensee's estate agents' licence is automatically cancelled 30 days after he or she is:

* convicted or found guilty of a disqualifying offence
* the cause of a successful claim against the Victorian Property Fund, or any corresponding fund

Automatic cancellation of a company's licence in accordance with the Estate Agent’s Act 1980

3. A company's estate agent's licence is automatically cancelled if:

* a company becomes an externally administered corporation

Permission

Unless the company applies to the BLA for permission, a company's licence as an estate agent is automatically cancelled 30 days after:

* the licence of a director of a company is cancelled an he or she becomes ineligible to hold an estate agents licence
* the company is notified in writing by the BLA that a director who is not a licensed estate agent would, if the director were to apply for a licence, be ineligible to be granted an estate agent's licence
* a company has a claim allowed against the Victorian Property Fund
* the company has been convicted or found guilty of an offence involving fraud,dishonesty, drug trafficking or violence that, if it was a natural person, would be punishable by imprisonment of 3 months or more


Cancel a reservation

Keep in mind that the other party has counted on your participation, so your cancellation will be at least an inconvenience, if not an expense. In this case, offering a reasonable explanation is a courtesy.