Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) A licensed dealer shall not apply money paid into a trust account in accordance with this part except in payment to the person for whom or on whose behalf the money was received or as directed by that person.
Maximum penalty: 50 penalty units, imprisonment for 6 months or both.
(2) A licensed dealer shall not pay money out of a trust account except by means of a cheque made payable to a specified person, being a cheque that is crossed ‘not negotiable'.
Maximum penalty: 50 penalty units, imprisonment for 6 months or both.