Victorian Current Acts

ESTATE AGENTS ACT 1980 - SECT 59A

    (1)     Section 59 also applies in relation to a payment by electronic funds transfer that is—

        (a)     received by an estate agent from a person whom the estate agent cannot identify for the purposes of keeping full and accurate accounting records; or

        (b)     received by an estate agent who cannot identify, for the purposes of keeping full and accurate accounting records, the person entitled to the payment.

S. 59A(2) amended by No. 44/2008 s. 109.

    (2)     If, at the end of a period of 12 months that started on the date of receiving a payment referred to in subsection (1), an estate agent has—

        (a)     not identified the person from whom he or she received the payment; or

        (b)     not identified the person entitled to the payment—

then despite section 59(1)(b), the payment must be dealt with as unclaimed money under the Unclaimed Money Act 2008 .

S. 60 amended by No. 9500 s. 13, substituted by No. 29/1989 s. 16.