Queensland Consolidated Acts

AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 13

13 Notice of account’s opening, closing or name change

(1) This section applies if an agent does any of the following (each an
"event" )—

(a) opens a general trust account;

(b) if the agent is a property agent—opens a special trust account;

(c) changes the name of a general trust account or special trust account;

(d) closes a general trust account or special trust account.

(2) The agent must give the chief executive written notice under subsection (3) of the happening of the event within 2 months of its happening.

Penalty—

Maximum penalty—200 penalty units.

(3) The written notice must state—

(a) whether the account is a general trust account or special trust account; and

(b) the name of the financial institution where the account is or was kept; and

(c) the account name; and

(d) the identifying number of the financial institution; and

Note—

This is commonly referred to as the bank state branch number (BSB).

(e) the account number.