CONVEYANCERS LICENSING ACT 2003 - SECT 71
Inspection of records of authorised deposit-taking institutions
CONVEYANCERS LICENSING ACT 2003 - SECT 71
Inspection of records of authorised deposit-taking institutions
71 Inspection of records of authorised deposit-taking institutions
(1) An authorised officer may serve on an authorised deposit-taking
institution with which a licensee has deposited any money in any account
(whether the licensee's own account or a general or separate trust account) a
notice, in a form approved by the Secretary and signed by the
authorised officer--
(a) certifying as to the reason for serving the notice,
as provided by this section, and
(b) requiring the authorised deposit-taking
institution to produce to the authorised officer for inspection the records of
the institution relating to the account.
(2) Each of the following is a
reason for serving a notice under this section--
(a) the licensee cannot be
located,
(b) the licensee has left the State,
(c) the licensee or any other
person required to do so has failed to furnish any authority or order on the
institution in accordance with a requirement under this Division,
(d) the
licensee has ceased to be a licensee,
(e) the licensee has contravened a
provision of Part 5 (Trust money).
(3) An authorised officer may take copies
of or extracts from, or make notes from, any records produced to the
authorised officer under this section and for that purpose may take temporary
possession of those records.
