Australian Capital Territory Consolidated Acts

SALE OF MOTOR VEHICLES ACT 1977 - SECT 39

    (1)     If a licensed dealer receives trust money from a person, the dealer must give the person a receipt that—

        (a)     complies with subsections (3) and (4); and

        (b)     states briefly the subject matter or purpose for which the money was received.

Maximum penalty: 10 penalty units.

    (2)     If a licensed dealer gives a person a receipt under subsection (1), the dealer must keep a legible carbon duplicate of the receipt that complies with subsections (3) and (4).

Maximum penalty: 10 penalty units.

    (3)     A receipt relating to trust money shall be taken from a bound book bearing a number or mark identifying the book and containing not less than 50 receipt forms arranged so that a carbon duplicate of each receipt remains in the book.

    (4)     A receipt and the carbon duplicate shall—

        (a)     have the words ‘Trust Account' printed or stamped on it; and

        (b)     bear such a number or mark as will enable the receipt to be identified by reference to that number or mark and so that the receipt and carbon duplicate bear the same number or mark.