Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(1) Subject to this section, moneys standing to the credit of a trust account maintained by a licensed agent are not available for the payment of debts of the licensed agent and, subject to subsection (2), are not liable to be attached or taken in execution for the purposes of satisfying a judgment against the agent.
(2) Nothing in subsection (1) prevents trust moneys to the extent that the licensed agent holds those trust moneys in trust for the person for whom or on whose behalf the moneys were received from being available for the discharge of the liability of the licensed agent to that person.