132Commissioner may freeze accounts

132 Commissioner may freeze accounts (1) If it appears to the commissioner for fair trading that trust money may have been stolen, misappropriated or misapplied, the commissioner may, in writing, direct that— (a) no amount be withdrawn from a stated account without the commissioner’s written approval; or (b) a stated account be operated only in accordance with stated conditions; or (c) if a claim has been made against the compensation fund in relation to the trust money—all or a stated part of the amount to the credit of a stated account be paid to the commissioner within a stated reasonable time.

Freezing accounts—licensed property agents Division 8.2 (2) The direction must— (a) identify each account to which it relates; and (b) be given to— (i) the holder of each account to which it relates; and (ii) the authorised deposit-taking institution with which the account is kept.