Trust money and controlled money
18 Trust money and controlled money
Subject to the regulations, Part 5, as amended by the amending Act, extends to money received by a licensee, before the relevant commencement date, that was received for or on behalf of another person in connection with the licensee’s conveyancing business and is still held for or on behalf of that person at the relevant commencement date.
In this clause, the relevant commencement date means the date of commencement of the amending Act, or of Part 5 of this Act, whichever is the later.
This provision refers to the regulations (the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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