New South Wales Consolidated Acts

CONVEYANCERS LICENSING ACT 2003 - SECT 82

82 Secretary may freeze licensee's accounts in particular cases

(1) A direction under this Division may be given when it appears to the Secretary that any of the following persons has, or may have, stolen, misappropriated or misapplied trust money--

(a) a licensee,

(b) the person in charge of a licensee's business at a place,

(c) an employee of a licensee.

(2) The Secretary may by direction in writing direct that--

(a) if a claim has been made against the Fund concerning the trust money, all or part of the amount to the credit of a specified account be paid to the Secretary, or

(b) an amount must not be drawn from a specified account other than with the Secretary's written approval, or

(c) a specified account may be operated only under specified conditions.

(3) The direction must be given to each holder of the account and the financial institution at which the account is kept, and must identify the account to which it relates.

(4) Any amount paid to the Secretary pursuant to such a direction must be paid into the Fund.