South Australian Consolidated Regulations

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STRATA TITLES REGULATIONS 2003 - REG 12

12—Authorisation of fees, costs and disbursements (section 36D(b))

        (1)         An agent may withdraw money from a trust account held on behalf of a strata corporation in satisfaction of a claim that the agent has against the corporation for fees, costs or disbursements if the corporation has agreed in writing to pay to the agent those fees, costs or disbursements.

        (2)         An agent who becomes entitled to money held in the agent's trust account in or towards satisfaction of the agent's fees, costs or disbursements must, as soon as practicable (and in any event within 3 months), transfer the money to an account maintained by the agent for receipts other than trust money.

Maximum penalty: $500.



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