Queensland Consolidated Regulations

AGENTS FINANCIAL ADMINISTRATION REGULATION 2014 - REG 10

10 Dealing with trust account receipt forms

The principal agent must ensure—

(a) a trust account receipt form contains the particulars mentioned in section 9 ; and

(b) a trust account receipt form is used only for the receipt of—

(i) trust money; or

(ii) an amount consisting of trust money and other money that cannot be divided; and

(c) if requested by the person from whom the trust money was received—a trust account receipt form is given to the person promptly; and

(d) a completed and legible duplicate trust account receipt form is kept in the principal agent’s records; and

(e) if the principal agent cancels a trust account receipt form, the form—

(i) is kept in the principal agent’s records; and

(ii) contains a brief description of why the form was cancelled.

Penalty—

Maximum penalty—10 penalty units.