Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 869

869. (1) It is a condition of a licence that the licensee shall not withdraw
money from a trust account except:

   (a)  to make a payment to, or in accordance with the written directions of,
        a person entitled to the money;

   (b)  to make a payment under section 889 to a stock exchange;

   (c)  to defray brokerage or any other proper charge;

   (d)  to pay to the licensee money to which the licensee is entitled, being
        money that was paid into the trust account but need not have been so
        paid; or

   (e)  to make a payment that is otherwise authorised by law.

(2) Nothing in a condition existing by virtue of this Part affects a lawful
claim or lien that a person:

   (a)  has against or on money held in a trust account of a person; or

   (b)  has, before money received for the purchase of securities or from the
        sale of securities is paid into a trust account of a person, against
        or on that money.