Keeping trust records
80 Keeping trust records
A licensee must keep in permanent form trust records in relation to trust money received by the licensee.
- 60 penalty units.
The licensee must keep the trust records—
in accordance with the regulations; and
in a way that at all times discloses the true position in relation to trust money received for or on behalf of any person; and
in a way that enables the trust records to be conveniently and properly investigated or audited; and
for a period of 6 years, or the period determined in accordance with the regulations.
- 60 penalty units.
This provision refers to the regulations (the regulations
). Made under this Act:
- Conveyancers (Fees) Regulations 2018 · under section 188
- Conveyancers (Professional Conduct) Regulations 2018 · under section 188
- Conveyancers (Qualifications and Experience) Regulations 2018 · under section 188
1 more instrument made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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