QLDIn ForceAct
Agents Financial Administration Act 2014
sec.18No other payments to trust account
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### sec.18 No other payments to trust account
An agent must not pay to a trust account an amount other than an amount that must be paid to the account under section 16 or 17 .
Maximum penalty—200 penalty units or 1 year’s imprisonment.
However, if the agent receives an amount consisting of trust money and other money (the non-trust money ) that can not be divided, the agent must—
pay the whole amount to the agent’s general trust account; and
draw the non-trust money from the account within 14 days after the money becomes available for drawing.
A property agent receives a single cheque for rent and services provided by the property agent, including, for example, television rental.
Maximum penalty—200 penalty units or 1 year’s imprisonment.
(sec.18-ssec.1) An agent must not pay to a trust account an amount other than an amount that must be paid to the account under section 16 or 17 . Maximum penalty—200 penalty units or 1 year’s imprisonment.
(sec.18-ssec.2) However, if the agent receives an amount consisting of trust money and other money (the non-trust money ) that can not be divided, the agent must— pay the whole amount to the agent’s general trust account; and draw the non-trust money from the account within 14 days after the money becomes available for drawing. A property agent receives a single cheque for rent and services provided by the property agent, including, for example, television rental. Maximum penalty—200 penalty units or 1 year’s imprisonment.
- (a) pay the whole amount to the agent’s general trust account; and
- (b) draw the non-trust money from the account within 14 days after the money becomes available for drawing.