Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A person may
request that moneys paid by that person to an agent in respect of a
transaction be deposited to the credit of a separate interest bearing trust
account maintained in accordance with section 68.
(2) A request shall be
in writing.
(3) An agent shall,
subject to subsection (4), comply with a request.
(4) Where requirements
are prescribed under subsection (6), an agent shall only comply with a
request if satisfied that those requirements have been met.
(5) An agent shall
ensure that all interest credited to a separate account is paid to the person
who requested the deposit of moneys in that account.
(6) Regulations made
under section 145 may prescribe requirements to be met before a request
can be complied with and, without limiting this subsection, those requirements
may relate to —
(a) the
amount of moneys paid to the agent;
(b) the
type of transaction in respect of which the moneys are paid; or
(c) the
length of time for which the moneys are to be deposited.
(7) In this
section —
request means a request under subsection (1).
[Section 68A inserted by No. 59 of 1995
s. 14.]