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PROPERTY AND STOCK AGENTS REGULATION 2014 - REG 25
Trust deposits
25 Trust deposits
(1) A licensee who makes a deposit of money to the licensee's trust account
must ensure-- (a) that the relevant deposit book or other written deposit
record is produced to the authorised deposit-taking institution when the
deposit is made, and
(b) that the following particulars are entered in the
book or record-- (i) the date of the deposit,
(ii) the amount of the deposit,
(iii) whether the deposit consists of cheques, notes or coins,
(iv) if
cheques are included in the deposit, the name of the drawer, the name and
branch of the authorised deposit-taking institution on which the cheque is
drawn and the amount of each cheque, and
(c) that a duplicate of the
particulars of each deposit is retained by the licensee.
(2) This clause does
not apply to a deposit of money made directly to a licensee's trust account,
electronically or otherwise.
: 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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