Section 3(1) of the Principal Act is amended as follows:

(a) by inserting the following definition after the definition of conveyancer :

deemed registration means an entitlement to automatic deemed registration, within the meaning of the Mutual Recognition Act 1992 of the Commonwealth;

(b) by omitting the definition of general auctioneer licence and substituting the following definition:

general auctioneer licence means –

(a) a type of licence referred to in section 15(c) that is issued and in force in accordance with section 19(1)(a); or

(b) a general auctioneer licence held by a person by virtue of holding deemed registration;

(c) by omitting the definition of licence and substituting the following definition:

licence means –

(a) a licence issued and in force under this Act; and

(b) a licence held by a person by virtue of holding deemed registration;

(d) by omitting the definition of property manager licence and substituting the following definition:

property manager licence means –

(a) a type of licence referred to in section 15(b) that is issued and in force in accordance with section 19(1)(a); or

(b) a property manager licence held by a person by virtue of holding deemed registration;

(e) by omitting the definition of property representative licence and substituting the following definition:

property representative licence means –

(a) a type of licence referred to in section 15(d) that is issued and in force in accordance with section 19(1)(a); or

(b) a property representative licence held by a person by virtue of holding deemed registration;

(f) by omitting the definition of real estate agent licence and substituting the following definition:

real estate agent licence means –

(a) a type of licence referred to in section 15(a) that is issued and in force in accordance with section 19(1)(a); and

(b) a real estate agent licence held by a person by virtue of holding deemed registration;