Queensland Consolidated Acts

AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 15

15 Application of ss 16 and 17

(1) Sections 16 and 17 apply if an amount is received by an agent—

(a) for a transaction; or

(b) with a written direction for its use.

Example of paragraph (b)—

an amount received by a property agent with a written direction to use it for advertising or marketing by the property agent or another person

(2) In this section—

"amount" , received by an agent for a transaction—

(a) includes deposit and purchase monies for the transaction; but

(b) does not include an amount payable to the agent for the transaction in refund of an expense the agent was authorised to incur and did incur and for which the agent holds a receipt.