Queensland Consolidated Acts

AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 14

14 Agreements with financial institutions

(1) The chief executive may enter into an agreement for the State with a financial institution about the keeping of general trust accounts by agents.

(2) The chief executive may enter into an agreement only with the Minister’s approval.

(3) The agreement may provide for the following things—

(a) payment of interest on the whole or part of amounts held in agents’ general trust accounts to the consolidated fund;

(b) informing the chief executive of amounts held in agents’ general trust accounts;

(c) auditing agents’ general trust accounts;

(d) other things concerning agents’ general trust accounts.

(4) A financial institution may pay interest to the consolidated fund under an agreement.