53Protection of trust moneys

53 Protection of trust moneys (1) Subject to subsection (2), moneys standing to the credit of a trust account maintained by a licensed agent are not: (a) available for the payment of debts of the licensed agent; or (b) liable to be attached or taken in execution for the purpose of satisfying a judgment against the agent. (2) Nothing in subsection (1) prevents trust moneys held in trust for the person for whom, or on whose behalf, the moneys were received from being available for the discharge of the liability of the licensed agent to that person.