9
CurrentExemption from trust account provisions for third party cheques
9 Exemption from trust account provisions for third party cheques
A conveyancer is exempt from the operation of Part 4
Division 2 of the Act and regulations 13(2) and 20(1)(d) in respect of the receipt and delivery of a cheque by the conveyancer if the cheque—
(a)
is a crossed cheque expressed to be payable to a person or persons not being or including the conveyancer (whether or not it is also expressed to be payable to bearer); and
(b)
is held by the conveyancer for the purpose of delivery to a person to whom the cheque is expressed to be payable (or such a person's agent), and is so delivered.
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