New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 24

24 Banking of trust money--the Act, s 86

A licensee who receives trust money must pay it into the licensee's trust account--

(a) before the end of the next business day after the day of its receipt, if practicable, or

(b) if not practicable, as soon as practicable after that day.

: Maximum penalty--

(a) for a corporation--40 penalty units, or

(b) otherwise--20 penalty units.