New South Wales Consolidated Regulations

CONVEYANCERS LICENSING REGULATION 2006 - REG 19

19 Keeping of records generally

(1) A licensee must keep the records required by this Part in viewable form.

(2) A licensee must keep the records concerned (including any records kept by means of a computer system) at the place of business where the licensee conducts the conveyancing business under the licence.

(3) A licensee who conducts a conveyancing business under the licence at more than one place of business is taken to comply with subclause (2) if the licensee:

(a) keeps the records relating to business transacted at a particular place of business at that place of business, or

(b) keeps the records relating to the business transacted at each place of business at one place of business specified in a written notice given to the Director-General.

(4) A licensee must, within 21 days after the end of each month:

(a) compile with the records kept by the licensee under this Part the original, or a true copy, of the trial balance statement prepared by the licensee in accordance with clause 31 for that month, and

(b) maintain a summary of the total of trust money disclosed in the trial balance statements for that month.

Maximum penalty: 40 penalty units in the case of a corporation or 20 penalty units in any other case.