Conveyancers Licensing Act 2003

A former licensee, or the personal representative of a deceased licensee, who holds money in a trust account kept under this Act must furnish to the Secretary a statement giving particulars of—

the money held in the trust account as at the date on which the statement is furnished, and

the names of the persons for whom or on whose behalf the money is held, and

the address of each of those persons last known to the person furnishing the statement.

This statement is the first statement that the former licensee or personal representative is required to furnish and it is to be furnished within 3 months after the date on which the person ceased to be a licensee or became the personal representative of the deceased licensee.

The former licensee or personal representative must furnish a further statement (an unclaimed money statement) within 14 days after the period of 12 months has elapsed since the first statement was furnished.

The further statement is to give particulars of the same matters as the first statement and also include particulars of any payments made from the trust account or other place where money is held since the date of the first statement.

A statement under this section is to be in the form approved by the Secretary.

The regulations may exempt money or a class of money from the operation of this section.