New South Wales Consolidated Acts

PROPERTY, STOCK AND BUSINESS AGENTS ACT 2002 - SECT 89

89 Licensee to notify trust account becoming overdrawn

A licensee must, within 5 days after becoming aware that a trust account of the licensee has become overdrawn, notify the Director-General in writing of:

(a) the name and number of the account, and

(b) the amount by which the account is overdrawn, and

(c) the reason for the account becoming overdrawn.

Maximum penalty: 100 penalty units.