Victorian Consolidated Legislation

Conveyancers Act 2006 - SECT 67

Trust account details to be notified to Director

67. Trust account details to be notified to Director



(1) Within 14 days after establishing a trust account, a licensee must notify
the Director of the number of the account and the name and address of the
branch of the ADI at which the account is maintained.

Penalty: 60 penalty units.

(2) A licensee must notify the Director of any changes to the information
notified to the Director under subsection (1) within 14 days after becoming
aware of the change.

Penalty: 60 penalty units.

(3) Within 14 days after closing a trust account, a licensee must notify the
Director of the closure.

Penalty: 60 penalty units.