New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 172

172 Division applies when person reasonably believed to be a licensee

(1) This Division extends to a case where a person entrusts money or other valuable property to another person reasonably believing that the other person is a licensee or an associate of a licensee and that the money or other valuable property is entrusted in the course of the carrying on of the other person's business as licensee.

(2) In such a case, the person believed to be a licensee is taken to be a licensee for the purposes of the operation of this Division and the money or other valuable property is taken to have been entrusted in the course of the carrying on of the licensee's business as licensee.