NSWIn ForceRegulation
Fair Trading Regulation 2019
17Unclaimed trust money
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17 Unclaimed trust money
17 Unclaimed trust money
If money has been held by a commercial agent for more than 2 years in a trust account kept by the commercial agent under clause 14 (unclaimed money), the commercial agent must make reasonable efforts to—
(a) identify and locate the owner of the unclaimed money, and
(b) if the owner has been identified and located—ensure the unclaimed money is paid to the owner as soon as practicable after locating the owner.