New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 89

89 Licensee to notify trust account becoming overdrawn

A licensee must, within 5 days after becoming aware that a trust account of the licensee has become overdrawn, notify the Secretary in writing of--

(a) the name and number of the account, and

(b) the amount by which the account is overdrawn, and

(c) the reason for the account becoming overdrawn.

: Maximum penalty--100 penalty units.