15
CurrentDefinitions for div 4
Part 2Sale of proposed lots
Division 4Amounts held in trust accounts
15 Definitions for div 4
In this division—
prescribed trust account, for a recognised entity, means—
(a)
if the recognised entity is a law practice—a trust account kept by the practice under the Legal Profession Act 2007; or
(b)
if the recognised entity is the public trustee—a common fund held by the public trustee under the Public Trustee Act 1978; or
(c)
if the recognised entity is a real estate agent—a trust account kept by the agent under the Agents Financial Administration Act 2014.
recognised entity means any of the following—
(a)
a law practice;
(b)
the public trustee;
(c)
a real estate agent.
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