One of my employees is in financial trouble and is thinking of petitioning for his own bankruptcy. However, he is worried that, once bankrupt, his licence will be revoked. Will bankruptcy automatically lead to revocation of licence?

There is no categorical answer to whether bankruptcy will automatically attract the revocation of licence. Bankruptcy of course will affect the "fit and proper" status of the licensee and the EAA will, on the basis of sections 19 and 21 of the Estate Agents Ordinance, consider whether the licensee concerned should continue to hold the licence. The Authority's Disciplinary Committee looks into each and every bankruptcy case and considers all factors involved, including the reasons for bankruptcy, and the character references in support of the licensee, before it decides on whether the licence it to be revoked or granted subject to conditions.

I held a Salesperson's licence in 1999 and 2000. I was a senior practitioner and completed a recognised training course for Estate Agents (80 hours) in June 2001. May I be considered for the licence again now? And, if I am applying for the Estate Agent licence, will I have to take the Estate Agent Qualifying Examination?

Under the Licensing Regulation, an individual who previously held a licence and who intends to apply for a licence again may be exempted from educational and examination requirements if he submits his application within 24 months from the expiry of his last held licence, and if he completed all examination/training course requirements before the end of the transition period, ie, 31st December 2001.

An individual who previously held or is currently holding a Salesperson licence and who intends to apply for an Estate Agent licence may be exempted from educational and examination requirements if he has previously passed an Estate Agent Qualifying Examination, or if he has completed a recognised training course for Estate Agents (for senior practitioners) before the end of the transition period. Otherwise, he is required to have passed the Estate Agent Qualifying Examination before applying for the Estate Agent licence.