Section 32 of the Property and Stock Agents Act 2002 (NSW) sets out a requirement of licensees, to properly supervise businesses. This requirement includes supervising employees and establishing and monitoring compliance procedures.
To help you understand your responsibilities as a licensee, NSW Fair Trading has issued Supervision Guidelines, which clarifies what constitutes the proper supervision of the business of a licensee.
You can read more on the rules of conduct and view the NSW Fair Trading Supervision Guidelines here.