sec.34BNotice of retention trust account’s opening, closing or name change

### sec.34B Notice of retention trust account’s opening, closing or name change This section applies if a trustee, or another person on behalf of the trustee, takes any of the following actions in relation to the retention trust account— opens the account; changes the name of the account; closes the account; transfers the account. Within 5 business days after taking the action, the trustee must, using an approved way, give the commissioner a notice— stating the action taken; and including the information prescribed by regulation. Maximum penalty—200 penalty units. s 34B ins 2018 No. 17 s 176T sub 2020 No. 24 s 63 (sec.34B-ssec.1) This section applies if a trustee, or another person on behalf of the trustee, takes any of the following actions in relation to the retention trust account— opens the account; changes the name of the account; closes the account; transfers the account. (sec.34B-ssec.2) Within 5 business days after taking the action, the trustee must, using an approved way, give the commissioner a notice— stating the action taken; and including the information prescribed by regulation. Maximum penalty—200 penalty units. - (a) opens the account; - (b) changes the name of the account; - (c) closes the account; - (d) transfers the account. - (a) stating the action taken; and - (b) including the information prescribed by regulation.