Power of Council in relation to dispute resolution schemes
66.—(1)  Regulations may be made under section 72 to prescribe one or more dispute resolution schemes for the resolution of disputes arising from or relating to the provision of services by estate agents and salespersons.
(2)  Without prejudice to the generality of subsection (1), regulations may be made under section 72 —
(a)to require licensed estate agents or any class thereof to participate in such prescribed dispute resolution schemes and to comply with such terms and conditions of the schemes as may be prescribed;
(b)to require registered salespersons or any class thereof to participate in such prescribed dispute resolution schemes and to comply with such terms and conditions of the schemes as may be prescribed;
(c)to prescribe approved dispute resolution centres under each prescribed dispute resolution scheme; and
(d)generally to give effect to this section.
(3)  Where the Council is satisfied that any licensed estate agent or registered salesperson has contravened any of the regulations referred to in subsection (2), the Council may do all or any of the following:
(a)impose a financial penalty of such amount, not exceeding $5,000, as the Council thinks fit;
(b)censure the estate agent or salesperson, if it thinks it necessary in the public interest or for the protection of the public or any section of the public;
(c)revoke or suspend the licence or registration, or order that the licence or registration, as the case may be, be subject to such terms or conditions as may be imposed by the Council, whether in addition to or in substitution of the existing terms and conditions.
(4)  The Council shall, before making any decision under subsection (3) in relation to an estate agent or a salesperson, give the estate agent or salesperson, as the case may be, notice in writing of its intention to do so.
(5)  Upon receipt of the notice of the Council under subsection (4), the person concerned or any manager thereof may, within a period of 14 days after the date of the notice, show cause to the Council as to why the Council should not impose a financial penalty, censure or make an order under subsection (3)(c), as the case may be.
(6)  The Council shall, after the estate agent or any manager thereof, or the salesperson, as the case may be, has shown cause under subsection (5) or the time to do so has expired, notify the party concerned of its decision in writing.
(7)  Subject to section 59, any decision by the Council under subsection (3) shall not take effect until the expiration of 14 days after the Council has served the notice of the decision on the party concerned.
(8)  The Council may issue, and in its discretion publish by notification in the Gazette or in such other manner as it considers appropriate, such guidelines as it considers appropriate for providing guidance in relation to the operation of a prescribed dispute resolution scheme.