Licensing of property dealer

After commencement of this Act,—

1. (i) no property dealer or his representative, partner or any employee shall enter into transaction of sale, purchase, exchange, letting or taking on lease between the buyer and seller, lessor and lessee, landlord and tenant, including collecting of rent in respect of the immovable property, with any body in any manner without obtaining a license;
2. (ii) no property dealer or his representative, partner or any employee shall purchase, either directly or indirectly, any immovable property for which he has received or may receive commission from the owner of such property, except with the prior permission of the Collector.