Cap. 644 Art. 22Effect of licence.

(1) No licence holder shall exercise the activity of an intermediary in the process of negotiating or carrying out transactions involving the acquisition, transfer, or lease of land in terms of this Act under any name unless the name has first been approved by the Agency.

(2) An applicant for a licence or a licence holder may, at any time apply in writing to the Agency to approve a name for the purposes of sub-article (1), which name shall not be approved if the Agency considers that the name closely resembles the name of any other person, firm, or company exercising the activity as a licensed property broker or real estate agent in or outside Malta which is likely to deceive, or that the name is that of any person, firm, or company.

(3) The Agency shall issue a licence document to a licence holder in accordance with this Act. The identity document shall contain a photograph of the licence holder and such other information as the Agency may deem necessary. The said information shall include, the name, the licence type, registration number and inter alia, term of validity. The identity document shall remain the property of the Agency and shall be returned to the Agency on the suspension or revocation of a licence issued under this Act.

(4) The licence holder has the obligation to indicate the licence rgistration number when he advertises, promotes or negotiates any property.

(5) Any licence holder who breaches the provisions of sub-article (1) or of sub-article (2) shall be liable on conviction, to an administrative penalty of not more than twenty thousand euro (€20,000) to be imposed by the Agency.