Victorian Current Acts

CONVEYANCERS ACT 2006 - SECT 64

    (1)     Subject to the regulations, a person may give a written direction to a licensee to deposit money received by the licensee on behalf of the person in an account (other than a general trust account) over which the licensee has or will have exclusive control.

    (2)     The regulations may prescribe the circumstances in which a direction can or cannot be made under this section.

    (3)     Without limiting subsection (2), the regulations may prescribe the circumstances in which a direction can or cannot be made under this section by reference to—

        (a)     the amount of money that may be the subject of a direction;

        (b)     the type of transaction in respect of which the money is received or held by the licensee;

        (c)     the length of time for which the money is to be deposited.