QLDIn ForceAct
Agents Financial Administration Act 2014
sec.6Main object
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### sec.6 Main object
The main object of this Act is to protect consumers from financial loss in dealings with agents regulated under an Agents Act.
The object is to be achieved mainly by—
regulating the way agents establish, manage and audit trust accounts; and
establishing a claim fund to compensate persons in particular circumstances for financial loss arising from dealings with agents; and
promoting administrative efficiency for claims made against the claim fund.
(sec.6-ssec.1) The main object of this Act is to protect consumers from financial loss in dealings with agents regulated under an Agents Act.
(sec.6-ssec.2) The object is to be achieved mainly by— regulating the way agents establish, manage and audit trust accounts; and establishing a claim fund to compensate persons in particular circumstances for financial loss arising from dealings with agents; and promoting administrative efficiency for claims made against the claim fund.
- (a) regulating the way agents establish, manage and audit trust accounts; and
- (b) establishing a claim fund to compensate persons in particular circumstances for financial loss arising from dealings with agents; and
- (c) promoting administrative efficiency for claims made against the claim fund.