Victorian Consolidated Legislation

Conveyancers Act 2006 - SECT 73

Transit money

73. Transit money



(1) Subject to section 74, a licensee that has received transit money must pay
or deliver the money as required by the instructions relating to the money-

   (a)  within the period (if any) specified in the instructions; or

   (b)  subject to paragraph (a), as soon as practicable after it is received.

Penalty: 120 penalty units.

(2) The licensee must account for the money as required by the regulations.

Penalty: 60 penalty units.