Victorian Consolidated Legislation

Conveyancers Act 2006 - SECT 78

Deficiency in trust account

78. Deficiency in trust account



(1) A licensee must not, without reasonable excuse, cause-

   (a)  a deficiency in any trust account or trust ledger account; or

   (b)  a failure to pay or deliver any trust money.

Penalty: 1800 penalty units or 15 years imprisonment, or both.

(2) An offence under this section is an indictable offence.

(3) In this section, cause includes be responsible for.