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Chapter Law Content

Chapter 5. Award and Penalty
Article 28
If a brokerage agency or a broker meets one of the following situations, the competent authority may reward the brokerage agency or the broker. In special municipality, the competent authority of the special municipality shall do it. The extremely distinguished brokerage agency or broker may be reported to the central competent authority for reward.
1. Being Outstanding in keeping the safety and fairness of trading property and in promoting a sound development of real estate broking.
2. Being Outstanding in protecting the interests of the consumers.
3. Those who have made significant contributions to the research or suggestions related to real estate brokerage regulations.
4. Having other special events acknowledged by the competent authority.
The central competent authority shall make the rules of the aforementioned system of award.
Article 29
The brokerage agency, which violates this act, shall be penalized according to the following regulations:
1. Those who violate Article 7 (6) , Article 11, Article 17, Article 19 (1) , Article 21 (1) and (2) or Article 22 (1) shall be fined from sixty thousand to three hundred thousand NT dollars by the competent authority of municipal or county (city).
2. Those who violate paragraph 2 of Article 24-1 by failing to declare real estate transaction information in accordance with the deadlines or declaring the incorrect price or area information, shall be fined by the competent authority of municipal or county (city) per household (unit) from thirty thousand to one hundred and fifty thousand NT dollars and rectified within the time limit. When they fail to do so, a fine should be imposed each time the violation occurs. After being punished twice, they should be fined from three hundred thousand to one million NT dollars.
3. Those who violate paragraph 2 of Article 24-1 by failing to report the consigned contract, violate paragraph 6 of Article 24-1 by evading, hindering or refusing the inspection, or violate Article 24-2 should be fined from thirty thousand to one hundred and fifty thousand NT dollars by the competent authority of municipal or county (city).
4. Those who violate Article 12, Article 18, Article 20, or Article 27 and who have not rectified themselves within the time limit given by the competent authority of municipal or county (city) shall be fined from thirty thousand to one hundred and fifty thousand NT dollars.
5. Those who violate paragraph 1 of Article 24-1 by failing to declare current transaction information in accordance with the deadline or declaring the incorrect rental or area information, shall be fined from ten thousand to fifty thousand NT dollars by the competent authority of municipal or county (city).
6. Those who violate paragraph 1 or 2 of Article 24-1 by declaring the incorrect information except rental, price or area information, and who have not rectified themselves within the time limit given by the competent authority of municipal or county (city) shall be fined from six thousand to thirty thousand NT dollars.
7. Those who violate Article 7 (3), (4) or Article 8 (4) shall be suspended by the competent authority of municipal or county (city). Suspension of business shall not be lifted until the brokerage agency makes up the guaranty bond. Nevertheless, if suspension of business lasts for one year, the permit of the brokerage agency shall be revoked.
The brokerage agencies that are fined according to the subparagraph 1, 3 to 6 in the preceding paragraph and who have not rectified themselves within the time limit given by the competent authority shall be penalized each time.
Financial institutions or parties to the transactions violate paragraph 6 of Article 24-1 by evading, hindering or refusing the inspection should be fined from thirty thousand to one hundred and fifty thousand NT dollars and rectified within the time limit. When they fail to do so, a fine should be imposed each time the violation occurs.
Article 30
The competent authority of municipal or county (city) shall revoke the permit of the brokerage agency that, after operation of business, has suspended its business automatically for over six months in a row. Nevertheless, the brokerage agency that applies for suspension of business by law is excluded from this regulation.
Article 31
The broker who violates this act shall be punished for the following regulations:
1. The broker who violates Article 16, 22(1), Article 23 or Article 25 shall receive reprimand.
2. Those who violate Article 19(1) shall be faced with suspension of business lasting for more than six months or fewer than three years.
The broker who has been reprimanded three times shall be faced another suspension of business lasting for more than six months or fewer than three years. The total time of suspension of business amounts to five years, which will result in the revocation of the certificate of a broker.
Article 32
Engage in brokering or sales agency services without being registered as brokerage agencies shall be prohibited from conducting business by the competent authority. Violating this regulation, the responsible person of company or firm or the actor shall be fined between one hundred thousand and three hundred thousand NT dollars.
Having been prohibited from conducting business by the competent authority according to the preceding paragraph, the responsible person of company or firm or the actor who stills continues operation shall be sentenced to less than one year in prison, faced with criminal detention, or fined between one hundred thousand and three hundred thousand NT dollars, or a combination thereof.
Article 33
If a broker violates one of the subparagraphs specified in Article31(1), the related interest party, the competent authority of all levels, or industry association may list the facts, provide evidence, and refer him or her to the competent authority of municipal or county (city) for reprimand.
The competent authority of municipal or county (city) should organize a committee of award and penalty in charge of the brokers’ award and penalty.
The organization of the committee of award and penalty in the preceding paragraph shall be determined by the central competent authority.
Article 34
When the committee of award and penalty in the preceding article accepts a case of penalty, they should inform the impeached or referred broker that he or she may offer a self-defense or make a statement before the committee within twenty days. The committee may proceed to a final judgment if the impeached or referred broker does not offer a self-defense or make a statement before the committee within twenty days.
Article 35
After being informed of paying the fine specified in this act, those who still do not pay the fine beyond the deadline shall be referred to the court for enforcement.