148
CurrentTrust accounts to be kept only with approved institutions
Part 10Property Agents Trust and Guarantee Fund
Division 2Schemes of arrangement
148 Trust accounts to be kept only with approved institutions
A real estate agent named in Part 1(1) of the Register, a property manager named in Part 2(1) of the Register or a general auctioneer named in Part 3(1) of the Register must not maintain a trust account with an authorised deposit-taking institution that is not an approved institution.
Fine not exceeding 1 000 penalty units.
This Act’s bill:Explanatory notesSecond reading speech
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