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Agents Financial Administration Regulation 2014
sec.8Obligation to complete a trust account receipt form
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sec.8 Obligation to complete a trust account receipt form
A principal agent must complete a trust account receipt form— if a principal agent receives trust money by direct deposit or electronic funds transfer—on the day the principal agent becomes aware of the receipt of the trust money; or otherwise—immediately on receiving the trust money. Maximum penalty—10 penalty units.
- (a) if a principal agent receives trust money by direct deposit or electronic funds transfer—on the day the principal agent becomes aware of the receipt of the trust money; or
- (b) otherwise—immediately on receiving the trust money.