Queensland Consolidated Acts

AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 26

26 When amount in dispute may be paid

(1) This section applies if the agent considers that a party to the transaction is entitled to the amount in dispute.

(2) The agent may give all parties to the transaction a written notice to the following effect—

(a) the agent considers that a stated party is entitled to the amount in dispute;

(b) the agent is authorised, under this Act, to pay the amount in dispute to the stated party on or after a stated date (at least 60 days after the notice is given), unless—

(i) a proceeding disputing the stated party’s entitlement to the amount in dispute is started and the agent is advised of the start of the proceeding; or

(ii) all parties to the transaction authorise payment of the amount to the stated party before the stated date.

(3) The agent may pay the amount in dispute to the stated person if—

(a) after the stated date, the agent is unaware of the start of a proceeding claiming an entitlement to the amount; or

(b) on or before the stated date, the agent receives written notice under subsection (2) (b) (ii) authorising payment of the amount to the stated party.

(4) The agent is not liable civilly or under an administrative process in relation to the payment of the amount in dispute to the stated party as provided under this section if it is subsequently found that the stated party was not entitled to the amount.

(5) To remove any doubt, it is declared that this section—

(a) provides a process for the payment of an amount in dispute; and

(b) does not decide legal entitlement to the amount or prevent a person legally entitled to the amount recovering it from the person to whom it was paid.

(6) Nothing in this section requires the agent to give notice under subsection (2) if the agent decides to retain the amount in dispute until payment of the amount is authorised by all parties to the transaction or entitlement to the amount is decided by a court.