New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 32

32 Records--additional requirements for strata managing agents--the Act, s 86

(1) A strata managing agent must also keep either--

(a) a single trust account ledger in a form permitting each account for an owners corporation or association for or on behalf of which the agent holds money to be physically removed from the ledger, or

(b) a separate trust account ledger for each owners corporation or association for or on behalf of which the agent holds money.

(2) A strata managing agent must ensure each ledger kept for an owners corporation or association contains sufficient information to identify the owners corporation or association for which it is kept.

: Maximum penalty--

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

(b) otherwise--20 penalty units.