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Conveyancers Licensing Regulation 2021
21Banking of trust money—the Act, s 172
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21 Banking of trust money—the Act, s 172
21 Banking of trust money—the Act, s 172
A licensee who receives trust money must pay the trust money into the licensee’s trust account—
(a) if practicable—before the end of the next banking day after the day of its receipt, or
(b) otherwise—as soon as practicable after that day.
Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.