Victorian Consolidated Legislation

Financial Institutions Duty Act 1982 - SECT 31

Cancellation by bank of designation of account

31. Cancellation by bank of designation of account

Where a bank receives a notice given by the Commissioner under section 25, 26,
27, 28 or 29, cancelling an account as a special account, a short-term dealing
account, a trust fund account, a credit provider's account or a Local
Government account for the purposes of this Act, as the case may be, the bank
shall forthwith cancel the designation of the account as such an account.