Queensland Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

PROPERTY OCCUPATIONS ACT 2014 No. 22 - SECT 169

169 Keeping trust accounts

(1) A principal licensee must keep a trust account under the Administration Act if an amount is likely to be received by the licensee for a transaction, or with written direction for its use, when performing the activities of a property agent or resident letting agent.

Maximum penalty—200 penalty units or 2 years imprisonment.

(2) In this section—

amount, likely to be received by a licensee for a transaction or with written direction for its use—

(a) includes deposit and purchase monies for a transaction; but
(b) does not include an amount payable to the licensee for a transaction in refund of an expense the licensee was authorised to incur and did incur and for which the licensee holds a receipt.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback