CONVEYANCERS LICENSING ACT 2003 - SECT 59 Dishonoured cheques

CONVEYANCERS LICENSING ACT 2003 - SECT 59

59 Dishonoured cheques

Within 5 business days of an authorised deposit-taking institution becoming aware that a cheque presented on a trust account kept with it under this Part has been dishonoured, the institution must, by notice in writing, inform the Secretary of the following--

(a) the name and business address of the licensee concerned,

(b) the name and number of the account,

(c) the amount of the dishonour,

(d) the date on which the cheque was dishonoured.

: Maximum penalty--100 penalty units.