Victorian Consolidated Legislation

Conveyancers Act 2006 - SECT 7

Failure to account

7. Failure to account



(1) In this Act, a failure to account means a failure by a licensee to account
for, pay or deliver money or other valuable property-

   (a)  that has been received or entrusted to the licensee, or an associate
        of the licensee, in the course of the licensee's conveyancing
        business; and

   (b)  in the case of money or other valuable property received by or
        entrusted to an associate of the licensee, that is under the direct or
        indirect control of the licensee-

whether the failure arises from an act or omission of the licensee or an
associate of the licensee.

(2) For the purposes of subsection (1), the reference to money or other
valuable property received by or entrusted to a licensee includes a reference
to money or other valuable property received by or entrusted to the licensee
as trustee, agent, bailee or stakeholder, or in any other capacity.

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