New South Wales Consolidated Acts

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PROPERTY AND STOCK AGENTS ACT 2002 - SECT 117

Definitions

117 Definitions

In this Division--

"account" means--

(a) a trust account in a licensee's name with a financial institution, or
(b) an account in a licensee's name or in which a licensee has an interest with a financial institution, or
(c) another account to which trust money is deposited.

"financial institution" includes an approved deposit-taking institution.

"holder" of an account means the licensee or other person authorised to operate on the account.

"licensee" includes a former licensee and the personal representative of a deceased licensee.

"trust money" means money received for or on behalf of any person by a licensee (whether or not the money is deposited in a trust account required to be kept by a licensee).



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