76
In forceIntermixing money
Part 5Trust money and trust accounts
Division 2Trust accounts and trust money
76 Intermixing money
(1)
A licensee must not mix trust money with other money, except in accordance with subsection (2).
- 120 penalty units.
S. 76(2) inserted by No. 17/2007 s. 25(2).
(2)
A licensee is permitted to mix trust money with other money to the extent only that is authorised by the Director and in accordance with any conditions imposed by the Director in relation to the authorisation.
This Act’s bill:Explanatory memorandumSecond reading speech
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