CONVEYANCERS LICENSING ACT 2003 - SECT 81 Definitions
CONVEYANCERS LICENSING ACT 2003 - SECT 81
Definitions81 Definitions
In this Division--
"account" means--
(a) a trust account in a licensee's name with a financial institution, or
(b) an account in a licensee's name or in which a licensee has an interest with a financial institution, or
(c) another account to which trust money is deposited.
"financial institution" includes an approved deposit-taking institution.
"holder" of an account means the licensee or other person authorised to operate on the account.
"licensee" includes a former licensee and the personal representative of a deceased licensee.
"trust money" means money received for or on behalf of any person by a licensee (whether or not the money is deposited in a trust account required to be kept by a licensee).