(1) When a person
receives a security bond, the person must, within 14 days after receiving the
bond —
(a)
deposit an amount equal to the amount of the bond with the bond administrator
or an authorised agent as defined in the Residential Tenancies Act 1987
Schedule 1 clause 1; and
(b) give
the bond administrator or an authorised agent a record relating to the payment
in the form approved by the bond administrator and available on the
department’s website.
Penalty for this subsection: a fine of $20 000.
(2) A person must not
make an entry in a record given to the bond administrator or an authorised
agent under subsection (1)(b) that the person knows is false or misleading in
a material particular.
Penalty for this subsection: a fine of $20 000.
[Section 22 inserted: No. 28 of 2020 s. 22.]
[ 23. Deleted: No. 28 of 2020 s. 22.]