New South Wales Consolidated Acts

ENTERTAINMENT INDUSTRY ACT 1989 - SECT 40

40 Bond to be lodged with Council

(1) If an entertainment industry agent or a manager is required to establish a trust account under section 39, the agent or manager is required to lodge with the Council a bond to cover the payment of money owed (by way of fees or other remuneration) to performers.

(2) Any such bond is to be in the form of a deposit of money, a guarantee from a bank, building society or credit union or other security approved by the Council.

(3) If an entertainment industry agent or a manager who is required to lodge a bond under this section is the holder of a provisional licence, the amount of or secured by the bond is to be $2,000 unless otherwise determined by the Council.

(4) In any other case, the amount of or secured by a bond under this section is to be an amount determined, subject to the regulations, by the Council.

(5) If an entertainment industry agent or a manager fails to lodge a bond under this section, the Council may suspend the licence held by the agent or manager until such time as the bond is lodged.