12.Confirmed Minutes Board Meeting 18 October 2022 redacted.pdf

Generated on: 2022-12-12 16:13:48
CONFIRMED MINUTES
BOARD MEETING 18 OCTOBER 2022
At the Board Meeting 6 December 2022 on 6 Dec 2022 these minutes were confirmed with
the following changes:
Amended bullet point three under item 5.1 to read "...REA's celebration of the various Pacific
Peoples Weeks..."
Name:
Real Estate Authority
Date:
Tuesday, 18 October 2022
Time:
9:00 am to 1:28 pm (NZDT)
Location:
REA Office and Zoom, office and online
Board Members: Denese Bates KC (Chair), Vern Walsh, Latham Lockwood, Liz Nidd, Tony
Stack, Mele Wendt
Attendees:
Andrew Bulled, Belinda Moffat, Josh Doherty, Nadine Thomas, Phirak
Appleton, Victor Eng, Marie Snell, Saara Fourie
Guests/Notes:
BDO Auditors
1.
Opening Meeting
1.1
Board in Committee
Issues for discussion with the Chief Executive were agreed.
1.2
Board and CE alone time
Papers and issues identified by Board were discussed with the Chief Executive.
1.3
Karakia
The Senior Leadership Team joined and the meeting was opened with a Karakia at 9.40am.
1.4
Confirmation of Agenda
The agenda was confirmed.
1.5
Interests Register
• The Board noted that
updates from the last meeting have now been made to the
interests register.
• The Board noted
potential move to another licensee.
1.6
Confirm Minutes
Board Meeting 13 September 2022 13 Sep 2022, the minutes were confirmed as presented.
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
The minutes of 13 September were approved as true and correct.
On motions duly made and seconded, it is proposed that the minutes of 13
September be approved as true and correct.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
2.
Actions from Previous Meetings
2.1
Action Item List
Due Date
Action Title
Owner
21 Jun 2022
1) REA Emails for Board
Status: In Progress
30 Jun 2022
2) Provide an update on ethnicity and tenure pay parity.
Status: In Progress
14 Sep 2022
3) Approach REINZ about the Real Estate Conference in October.
Belinda Moffat
Status: Completed on 10 Oct 2022
30 Sep 2022
4) Finalise the Board Governance Self-assessment for the Minister. Belinda Moffat
Status: Completed on 10 Oct 2022
10 Oct 2022
5) Joint REINZ/REA Board Lunch Meeting 26 October
Belinda Moffat
Status: Completed on 10 Oct 2022
13 Oct 2022
6) REINZ Real Estate Conference in Auckland 13 October
Belinda Moffat
Status: Completed on 10 Oct 2022
18 Oct 2022
3) Flexi by Default review
Status: In Progress
18 Oct 2022
8) Update Interests Register
Status: Completed on 10 Oct 2022
18 Oct 2022
10) 2023 Board Dates and Work Plan
Status: Completed on 11 Oct 2022
18 Oct 2022
11) Send a placeholder for the stakeholder event and Board dinner in Belinda Moffat
Auckland on 5 December
Status: Completed on 10 Oct 2022
19 Oct 2022
9) Update the Board on Values in October.
Status: Completed on 11 Oct 2022
31 Oct 2022
4) License Expiry Reminders
Status: In Progress
28 Feb 2023
23) Māori Engagement Framework - Board Marae Visit
Belinda Moffat
Status: In Progress
Actions were taken as read and the updates were noted.
3.
Chief Executive's Report
3.1
CE Report
The report was taken as read and Belinda Moffat, Chief Executive, highlighted the following:
·       Paragraph 11 and attachment 3.1.b refer to the proposed 2023 Board dates and the
possibility of hosting the February meeting at
. This is subject to
availability at the marae.
·     Corrections were made to the May and June Board dates to 23 May and 20 June
respectively.
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
·     Cyber and Crimes Insurance request to delegate this approval to the Audit and Risk
Committee on pg. 33-34.
·     SPE measure 2.6 on formal complaint resolution will report the annual number (excluding
aged cases) with a footnote of overall improvement for all cases.

The Board discussed the following matters:
·     2023 Board Calendar and Work Plan and requested a change of dates for February, and
that April ARC and P&C meetings be held on Zoom to reduce travel.
·     Property management regulation timeframes for announcement. CE is liaising with HUD to
ensure staff can be advised as soon as the announcement is made.
·     OIA request received around the cost of producing the translated guides.
·     Reporting of timelines on aged cases: noted that aged cases will be ringfenced and
timeline for resolution of new cases will be reported.
·     Projects and progress against the business plan was noted. The board noted the
importance of progressing the IT upgrade work. Management noted that this work had
been identified as a risk in risk reports and planned work to upgrade IT systems was also
scoped in the ISSP which was approved by the Board in April. The IT upgrade will follow
confirmation of business requirements identified through the complaints and licensing
improvement project.
The Board noted and approved the recommendations
Recommendations
It was recommended that the Board:
• Note the contents of this report.
• Discuss the health and safety update and provide feedback on any
issues arising
• Provide feedback and/or approve the Board Meeting Plan for 2023
• Approve a delegation to the Audit & Risk Committee to review and
approve the Cyber and Crimes insurance programme for 2022/23
• Discuss and provide feedback on any other matters raised in this
report where indicated.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
5) 2023 Board Dates
Board members to advise of any dates in February 2023 they are not available
to find a new meeting date.
December: Complete. 16 February the new confirmed February Board meeting
date.
Due Date:
1 Nov 2022
Owner:
Belinda Moffat
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
4.
Committee Updates
4.1
People and Capability Committee Update
The Board Chair gave an update on the matters discussed at the People and Capability
Committee meeting held on Monday 17 October 2022:
• Pay restraints remain a challenge.
• Values refresh update and connecting with strategic priorities is a focus.
• Committee noted the focus on CLIP efficiencies and the reputational risk arising from this
work.
• Committee noted high volume of work and discussed the need to consider what priorities
can be deferred to focus on the most important areas such as CLIP and IT upgrade.
• The Board queried whether REA is being held back from making changes in other
business areas while work is underway on finalising the CLIP future state. The CE advised
that process and people changes have been identified that can be made in the shorter
term, and the team is close to finalising the optimal state which will inform future IT
enhancements. IT workstream updates will come to the Board in the CLIP reports once
that commences.
• ISSP is REA’s roadmap of what is planned in the information and systems space and CLIP
is a subset of that plan.
13) Consider whether to bring forward the ISSP review from March 2023
Consider whether to bring forward the ISSP review from March 2023
Due Date:
6 Dec 2022
Owner:
22) CLIP Future State and Plans for IT Upgrade - Information Session
Arrange an information session for the Board on CLIP future state and plans for
IT upgrade.
Due Date:
31 Jan 2023
Owner:
Belinda Moffat
14) CE Report to reflect top of mind projects in the introduction
Ensure CE Report reflects top of mind projects in the introduction.
Due Date:
6 Dec 2022
Owner:
Belinda Moffat
4.2
Break
Break at 10.57am
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
5.
Board Papers for Approval or Discussion
5.1
Accountability Reporting
The paper was taken as read and Belinda Moffat, Chief Executive, highlighted the key changes
from the last Annual Report iteration. She then outlined the next steps for sending the Report to
the Minister to table in Parliament and the distribution plan once published.

The Board discussed the following matters:
• Fraud Assessment and representation letter - no concerns were raised by the Board.
• Management confirmed that there is a process for monitoring and maintenance of systems
as discussed in the representation letter on a regular basis.
• The Board suggested adding a reference to REA’s celebration of the various Pacific
Peoples Weeks under the people section of the Annual Report.
Approved a recommendation that the Assessment be signed by the Board Chair
and Chief Executive.
It was recommended that the Board:
• Approve a recommendation that the Assessment be signed by the
Board Chair and Chief Executive and then provided to BDO.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
• Note the Chief Executive and Head of Corporate Services’ Representation Letter
Approved the Board Chair and the Audit & Risk Committee Chair signing the
Representation Letter
• Approve the Board Chair and the Audit & Risk Committee Chair signing
the Representation Letter
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Approved the 2021/22 Annual Report

• Approve the 2021/22 Annual Report
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Approved a delegation to
and
to sign the Annual
Report
• Approve a delegation to
and
to sign the
Annual Report
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
Approved a delegation to management to apply e-signatures to the Annual Report
• Approve a delegation from
and
to
management to apply their e-signatures to the Annual Report
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Approved a delegation to the CE to finalise the 2021/22 Annual Report
• Approve a delegation to the Chief Executive to finalise the 2021/22
Annual Report
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
6) Accountability Reporting : Sign and send assessment and representation letter
Sign and send approved assessment and representation letter.
Due Date:
31 Oct 2022
Owner:
7) Accountability Reporting: Amend and finalise the Annual Report
Amend and finalise the Annual Report.
Due Date:
31 Oct 2022
Owner:
Belinda Moffat
5.2
Auditors - BDO
BDO Auditor
joined the meeting at 11.08am and the Senior Leadership team
were excused for the discussion between the auditor and the Board.

The Chair reported that there were no issues of concern raised, and management was
commended for the three very good grades achieved in the Audit.

5.3
COVID-19 Vaccination Policy
The paper was taken as read and
Head of People & Capability, highlighted the
following points:
• This is the third revision of this policy and the Board has previously seen the earlier
versions.
• Educate, encourage and support approach now being adopted.
• The amendments were supported by the People and Capability Committee at their meeting
on 17 October 2022.
• Workplace guidelines are being updated and these will be circulated to the Board once
available.
• The staff care package approach will be revisited with a view to SLT members managing
staff wellness packages on a case-by-case basis.
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
The Board discussed the following matters:
• Unanimous support was given for the revised policy.
• The Board recognised that this may need to be updated again in the future.
• Hygiene protocols: still need to be clear about ongoing expectations in terms of symptoms
that could be attributed to hayfever or allergies and management agreed this could be a
good discussion with the CE Leadership Forum on Thursday.
The Board approved the updated COVID-19 Vaccination Policy
Recommendations
It was recommended that the Board:
• Approve the updated COVID-19 Vaccination Policy.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
8) COVID-19 Vaccination Policy
Sign and circulate the updated COVID-19 Vaccination Policy
Due Date:
31 Oct 2022
Owner:
Belinda Moffat
5.4
Stakeholder Engagement
The paper was taken as read and
, Head of Engagement, Insights and Education
highlighted the following points:
• Proposing to update the Terms of Reference and name to better reflect the role of the
group.
• Recommended that the Board appoints a couple of representatives for future forums,
noting that the full Board is welcome but the idea is to ensure at least two Board members
can participate.
• Suggested one licensee Board member and one independent Board member but this was
presented for discussion.
The Board discussed the following aspects:
•
would both like to attend as licensee representatives and will do so when
available.
•
to be the independent representative with
as a back-up.
• Typographical and formatting changes were noted.
• Discussion was held around conduct in the commission-based selling landscape as a
possible RELF agenda item (also seen in insurance and car sales environments).
• Use the RELF to gauge support for te Tiriti CPD and diversity and inclusion approach.
•
Approved the name change of the Regulator’s Forum to Real Estate Leaders Forum
(RELF)
• Approve the name change of the Regulator’s Forum to Real Estate
Leaders Forum (RELF)
Decision Date:
18 Oct 2022
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Approved the updated Terms of Reference for the RELF
• Approve the updated Terms of Reference for the RELF
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Appointed board members as representatives on the RELF for 2023
Appointee(s):
(will also provide opening comments),
and
as respective licensee and independent representatives with
an open invitation to rest of Board.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
11) Add AndCo/Lowe and Co to the RELF membership list
Add AndCo/Lowe and Co to the RELF membership list when reviewing the
membership list.
Due Date:
5 Dec 2022
Owner:
12) Circulate and seek feedback from the Board on the RELF agenda.
Circulate and seek feedback from the Board on the RELF agenda.
Provided to Board in week commencing 28 November 2022
Due Date:
5 Dec 2022
Owner:
10) Finalise the RELF Terms of Reference.
Amend and finalise the Terms of Reference.
Due Date:
15 Nov 2022
Owner:
5.5
Quarterly Report to the Minister (Q1 - July - September 2022)
The paper was taken as read and Belinda Moffat, Chief Executive, highlighted the following:
• an update paper with the finalised September financials that were circulated out of cycle
before the meeting.
The Board provided the following feedback:
• Report is comprehensive and fairly reflects REA work, risks and issues
• Typographical errors noted for correction.
Quarterly Report was approved subject to corrections highlighted by the Board
It was recommended that the Board:
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
• Review and provide feedback and subject to feedback, approve the
Quarterly Report to the Minister

Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Approved the September financial results for inclusion in the Minister's Report
New recommendation following circulation of final September financial
results:
• Approve the September financial results for inclusion in the Minister’s
Report.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
5.6
Six-monthly Risk Report
The paper was taken as read and
and Belinda Moffat highlighted the following
recommendations for discussion and approval
Fit and Proper Risk recommended to be removed from watch.
• Fit and Proper Risk recommended to be removed from watch.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
• Regulator reputation: the Board queried whether management has seen any increase in
scrutiny on SLT in terms of sensitive expenditure and should that be on watch. No scrutiny
at this stage but auditors did actively look into care packages and approval processes
there. The Board agreed that this is managed in BAU so this will not be added as a new
risk.
Reputational risk rating to be raised to high.
• The Board approved recommendation to raise the reputational risk
rating to high.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
• ICT risk was discussed and the following points were noted:
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
COVID-19 impact (external) risk to be reduced to medium
• COVID-19 Impact (external): the Board supported reducing the COVID-
19 external impact to medium.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
COVID-19 Impact (internal) risk to be reduced to medium.
• COVID-19 Impact (internal): the Board supported reducing the COVID-
19 internal impact risk to medium.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Business Continuity to be removed from watch.
• Business Continuity: The Board agreed to remove Business Continuity
from watch.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
Recommendations
It was recommended that the Board:
• Note the Risk report and Register and provide feedback on the items identified.
Outcome: Noted and feedback provided.
5.7
Public Records
The paper was taken as read and
highlighted the following:
• External provider
met with functional teams and conducted this piece of
work for REA.
• Purpose is to ensure compliance with Archives recordkeeping standards.

The Board discussed the following points:
• Approximately
was spent on preparation of the report and consultation
process.
• Board papers and records are to be retained for 10 years.
Approved the draft appraisal report and disposal schedule for submission to
Archives New Zealand.
It was recommended that the Board:
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
• Approve the draft appraisal report and disposal schedule for submission
to Archives New Zealand.
Decision Date:
18 Oct 2022
Mover:
Seconder:
Outcome:
Approved
5.8
Break
6.
Board Papers for noting
6.1
Regulatory Services Team Paper
The paper was taken as read and
Head of Regulatory Services, highlighted the
following points:
• Volumes were quieter in September.
• The RST team is still seeing sick leave and vacancies so not at full capacity.
• A CAC member resigned last week. Further CAC recruitment will be required in the near
future.
• Investigations team are at full capacity and being supported by contractor.
• Active licences remain above the level budgeted for which is positive for revenue. Licence
numbers are tracking at 16,888 as at date of meeting.
• Licensee trend will be clearer in April 2023 following bulk renewals process.
The Board made the following comments:
• TMR case referrals were discussed, particularly those cases not being able to come to
resolution.
• There was general support for requiring licensees to prepare post sale transaction reports.
Discussion was held on whether REA could develop a suite of forms/templates for smaller
agencies. Belinda reinforced the need to be mindful about being a principles-based
regulator vs a prescriptive one.
Recommendations
It was recommended that the Board:
• Note the contents of the Report and provide feedback on any matters raised.
Outcome: Noted
15) Separation of aged cases
Separate aged cases from current cases from 1 July and report SPE outcomes
in 2 categories.
Due Date:
6 Dec 2022
Owner:
16) Transaction Reports
Consider whether REA should promote transaction report for all transactions.
Due Date:
6 Dec 2022
Owner:
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
6.2
Legal Team Paper
The paper was taken as read and
General Counsel, highlighted the following:
• Continuing recruitment and welcomed a new team member.
• REAA list of improvements is in the supplemental folder. The Board was invited to provide
feedback on whether there was anything missing on the list.
The Board discussed the following:
• List of legislation improvements was very comprehensive. Next steps will be consultation
on the list and discussion with the Minister to flag improvements that are needed. The
Board will receive a paper on this down the track.
Recommendations
It was recommended that the Board:
• Note the contents of the Report and provide feedback on any matters raised.
Outcome: Noted
17) Review of the Real Estate Agents Act
Prepare a plan of steps for the review of the Act, to include: engagement with
MoJ, refinement of priority issues, and approval from Board to progress.
Recommendations included in the CE report for the December board meeting.
Due Date:
7 Dec 2022
Owner:
6.3
PMO Report on Projects and Key Initiatives

The paper was taken as read and
Programme Manager, highlighted the following:
• Project Essentials Training had been delivered to 10 staff by Tregaskis Brown as a pilot
and was well received.
• Fit and Proper next steps: operationalising the guidelines which is being treated as a
project with the licensing improvements project
• Future project work will come out of the recently approved Data and Insights Strategy.
The Board did not have any additional comments.

Recommendations
It was recommended that the Board:
• Note the contents of this paper and provide feedback on any matters raised.
Outcome: Noted.

18) Priorities Review
Management to report back on the outcome of the priorities review in
December, including any recommendations of work to be stopped or deferred.
Priorities and planning tool has been developed. Decisions on pause and stop
pending SLT completion of review of their projects and initiatives.
Due Date:
6 Dec 2022
Owner:
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
6.4
Education Update
The paper was taken as read and
, Head of Engagement Insights and Education,
highlighted the following:
• Five workstreams in the education space, including development of the 2023 CPD
programme, the diversity & inclusion series, review of CPD programme, recruitment of
training providers, and education strategy which EIE is aiming to bring to the Board in
December.
• The review of the CPD programme may be deferred to next year
• The Board was invited to provide any comments or raise queries.
The Board discussed the following:
• The tender process for te Tiriti CPD provider.
advised that four providers had been
invited to tender.
• Quality control for the te Tiriti topic is important. If we cannot identify a good provider, then
we may need to delay delivery of this training until the following year. The Board will be
kept appraised.
9) Recirculate the link the joint REINZ/REA CE podcast.
Recirculate the link the joint REINZ/REA CE podcast.
Due Date:
31 Oct 2022
Owner:
19) Te Tiriti CPD Proposal Review
Consider Kathy Irwin either as peer review of Te Tiriti proposals (an iwi peer
review to support our selection) or potential provider if RFP results are
unsatisfactory.
Due Date:
6 Dec 2022
Owner:
20) Key Messages for Board
Provide the Board with key messages on why REA is delivering a te
Tiriti/Diversity & Inclusions programme.
Due Date:
6 Dec 2022
Owner:
21) Consider deferral of CPD review to 2023/24
Consider deferral of CPD review to 2023/24
Due Date:
6 Dec 2022
Owner:
7.
Other Business
7.1
General Business
• EIE staffing: senior communications roles will be addressed once the consultation on the
EIE structural changes have been finalised.
• Real Estate NZ Conference from REINZ went well. REA’s sponsored speaker from the
disabled community,
, was very well received and demonstrated REA’s
commitment to our diversity and inclusion work. For many attendees,
was a
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Minutes : Board Meeting 18 October 2022 - 18 Oct 2022
highlight from the conference. She prompted discussion around tools for change like
advertising where stairs are present at a property viewing.
• Learning needs within the licensee population, particularly with CPD (e.g. dyslexia).
Consider whether this is something that needs further consideration from REA.
7.2
Closing Karakia
8.
Close Meeting
8.1
Close the meeting
Next meeting: Board Meeting 6 December 2022 - 6 Dec 2022, 8:30 am
Unuhia, unuhia                         Draw on, draw on,
Unuhia ki te uru tapu nui               Draw on the supreme sacredness
Kia wātea, kia māmā, te ngākau,         To clear, to free the heart,
te tinana, te wairua t e ara takatā        the body and the spirit of mankind
Koia rā e Rongo, whakairia ake ki runga Rongo, suspended high above us (i.e. in ‘heaven’)
Kia tina! TINA! Hui e! TĀIKI E!        Draw together! Affirm!
   6 December 2022
Signature:_
_
Date:_________________________
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