STRATA TITLES ACT 1988 - SECT 36J

STRATA TITLES ACT 1988 - SECT 36J

36J—ADIs etc to report deficiencies in trust accounts

An ADI or other financial institution with which a trust account has been established must, as soon as practicable, and in any event within 14 days, after becoming aware of a deficiency in that account, report the deficiency to the Minister.

Penalty: Division 5 fine.