79
In forceReporting irregularities
Part 5Trust money and trust accounts
Division 2Trust accounts and trust money
79 Reporting irregularities
(1)
As soon as practicable after a licensee becomes aware that there is an irregularity in any of the licensee's trust accounts or trust ledger accounts, the licensee must give written notice of the irregularity to the Director.
- 60 penalty units.
(2)
A licensee is not liable for any loss or damage suffered by another person as a result of the licensee's compliance with subsection (1).
This Act’s bill:Explanatory memorandumSecond reading speech
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