QLDIn ForceAct
Agents Financial Administration Act 2014
sec.12Account’s name
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### sec.12 Account’s name
An agent opening a general trust account must ensure the account’s name includes the words ‘trust account’.
Maximum penalty—200 penalty units.
A licensee opening a special trust account must ensure the account’s name includes the words ‘special trust account’.
Maximum penalty—200 penalty units.
(sec.12-ssec.1) An agent opening a general trust account must ensure the account’s name includes the words ‘trust account’. Maximum penalty—200 penalty units.
(sec.12-ssec.2) A licensee opening a special trust account must ensure the account’s name includes the words ‘special trust account’. Maximum penalty—200 penalty units.