sec.19ALimited purposes for which money may be deposited in project trust account

### sec.19A Limited purposes for which money may be deposited in project trust account A trustee must not cause an amount to be deposited into the project trust account for any purpose other than— paying the trustee, as the contracted party, an amount the contracting party must deposit into the account under section 19 ; or paying a subcontractor beneficiary an amount the subcontractor is entitled, or may become entitled, to be paid in connection with a project trust subcontract; or repaying an amount withdrawn from the account in error; or making another payment prescribed by regulation. Maximum penalty—200 penalty units or 1 year’s imprisonment. This section does not apply to an amount of interest credited to the project trust account by a financial institution. s 19A ins 2020 No. 24 s 63 amd 2024 No. 14 s 30 (sec.19A-ssec.1) A trustee must not cause an amount to be deposited into the project trust account for any purpose other than— paying the trustee, as the contracted party, an amount the contracting party must deposit into the account under section 19 ; or paying a subcontractor beneficiary an amount the subcontractor is entitled, or may become entitled, to be paid in connection with a project trust subcontract; or repaying an amount withdrawn from the account in error; or making another payment prescribed by regulation. Maximum penalty—200 penalty units or 1 year’s imprisonment. (sec.19A-ssec.2) This section does not apply to an amount of interest credited to the project trust account by a financial institution. - (a) paying the trustee, as the contracted party, an amount the contracting party must deposit into the account under section 19 ; or - (b) paying a subcontractor beneficiary an amount the subcontractor is entitled, or may become entitled, to be paid in connection with a project trust subcontract; or - (c) repaying an amount withdrawn from the account in error; or - (d) making another payment prescribed by regulation.