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Section 78 - Conveyancers Act 2006 - Deficiency in trust account — Zoe

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Conveyancers Act 2006

78Deficiency in trust account

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78 Deficiency in trust account (1) A licensee must not, without reasonable excuse, cause— (a) a deficiency in any trust account or trust ledger account; or (b) a failure to pay or deliver any trust money. 1. 1800 penalty units or 15 years imprisonment, or both. (2) An offence under this section is an indictable offence. (3) In this section, ***cause*** includes be responsible for.

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