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PROPERTY AND STOCK AGENTS ACT 2002 - SECT 91
Monthly returns by authorised deposit-taking institutions
91 Monthly returns by authorised deposit-taking institutions
(1) Within 14 days after the end of each named month, an authorised
deposit-taking institution must notify the Secretary (in such manner and form
as the Secretary may from time to time direct) of the following matters with
respect to the trust accounts that are opened with the institution under this
Part during the month-- (a) the number of those trust accounts that were
opened with the institution during the month,
(b) the names of the licensees
who opened those accounts,
(c) the names and numbers of those accounts and
the addresses of the branches of that institution at which those accounts are
kept.
: Maximum penalty--100 penalty units.
(2) Within 14 days after the end
of each named month, an authorised deposit-taking institution must inform the
Secretary (in such manner and form as the Secretary may from time to time
direct) of the following if a trust account kept with it under this Part was
closed during the month-- (a) the name and number of the account,
(b) the
date on which the account was closed.
: Maximum penalty--100 penalty units.
(3) Within 14 days of the end of each named month, an authorised deposit
taking institution must provide a report to the Secretary (in such manner and
form as the Secretary may from time to time direct), certified as correct by
the institution, containing the following information in relation to
trust accounts kept by it under this Part during the month-- (a) the name of
the institution and its branch number or its BSB number,
(b) the period to
which the report relates,
(c) the name of each account,
(d) the number of
each account,
(e) the end of month balance for each account (including any
nil or overdrawn balances),
(f) the interest earned on each account during
the month,
(g) the interest rate applied to calculate the interest earned on
each account during the month,
(h) the total amount of interest that the
institution paid under this Part to the Secretary during the month in respect
of the accounts for crediting to the Statutory Interest Account.
: Maximum
penalty--100 penalty units.
(4) The regulations may make provision for or
with respect to the following-- (a) requiring authorised deposit-taking
institutions to provide the Secretary with such information relating to all or
any trust accounts as is specified or described in the regulations,
(b)
authorising the Secretary to require an authorised deposit-taking institution
to provide the Secretary with such information relating to trust accounts
identified by the Secretary as is specified or described by the Secretary,
(c) any associated matter, including the manner and form in which, and the
time within which, any such information is to be provided to the Secretary,
(d) excepting a specified class or classes of trust account from the operation
of this section or specified provisions of this section.
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