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PROPERTY AND STOCK AGENTS REGULATION 2014 - REG 21
Additional requirements for strata managing agents
21 Additional requirements for strata managing agents
(1) A strata managing agent must keep either of the following additional
records-- (a) a single trust account ledger that is in a form permitting each
account for an owners corporation, community association, precinct association
or neighbourhood association for or on behalf of which the agent holds any
money to be physically removed from the ledger,
(b) a separate trust account
ledger for each such owners corporation, community association, precinct
association or neighbourhood association.
(2) A strata managing agent must
ensure that each ledger kept for an owners corporation, community association,
precinct association or neighbourhood association contains sufficient
information to enable the name of the owners corporation, community
association, precinct association or neighbourhood association for which it is
kept to be identified.
: Maximum penalty-- (a) 40 penalty units in the case
of a corporation, or
(b) 20 penalty units in any other case.
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