Victorian Current Acts Victorian Current Acts(1) Within 14 days after establishing a trust account, a licensee must notify the Director of the number of the account and the name and address of the branch of the ADI at which the account is maintained.
Penalty: 60 penalty units.
(2) A licensee must notify the Director of any changes to the information notified to the Director under subsection (1) within 14 days after becoming aware of the change.
Penalty: 60 penalty units.
(3) Within 14 days after closing a trust account, a licensee must notify the Director of the closure.
Penalty: 60 penalty units.