Trustee must pay all money into the administration account
65-5 Trustee must pay all money into the administration account
Trustee must pay money into the administration account
The trustee of a regulated debtor’s estate must pay all money received by the trustee on behalf of, or in relation to, the estate into an administration account for the estate within 5 business days after receipt.
Exception
If the Court gives a direction that is inconsistent with subsection (1), that subsection does not apply to the extent of the inconsistency.
Offence
A person commits an offence of strict liability if:
the person is subject to a requirement under subsection (1); and
the person fails to comply with the requirement.
Penalty: 50 penalty units.
A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code).
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