Victorian Consolidated Legislation

Conveyancers Act 2006 - SECT 80

Keeping trust records

80. Keeping trust records



(1) A licensee must keep in permanent form trust records in relation to trust
money received by the licensee.

Penalty: 60 penalty units.

(2) The licensee must keep the trust records-

   (a)  in accordance with the regulations; and

   (b)  in a way that at all times discloses the true position in relation to
        trust money received for or on behalf of any person; and

   (c)  in a way that enables the trust records to be conveniently and
        properly investigated or audited; and

   (d)  for a period of 6 years, or the period determined in accordance with
        the regulations.

Penalty: 60 penalty units.