sec.15Definitions for div 4

### sec.15 Definitions for div 4 In this division— prescribed trust account , for a recognised entity, means— if the recognised entity is a law practice—a trust account kept by the practice under the Legal Profession Act 2007 ; or if the recognised entity is the public trustee—a common fund held by the public trustee under the Public Trustee Act 1978 ; or if the recognised entity is a real estate agent—a trust account kept by the agent under the Agents Financial Administration Act 2014 . recognised entity means any of the following— a law practice; the public trustee; a real estate agent. s 15 prev s 15 amd 1985 No. 43 s 12 ; 1985 No. 105 s 13 om 1997 No. 40 s 16 pres s 15 ins 2014 No. 46 s 43 - (a) if the recognised entity is a law practice—a trust account kept by the practice under the Legal Profession Act 2007 ; or - (b) if the recognised entity is the public trustee—a common fund held by the public trustee under the Public Trustee Act 1978 ; or - (c) if the recognised entity is a real estate agent—a trust account kept by the agent under the Agents Financial Administration Act 2014 . - (a) a law practice; - (b) the public trustee; - (c) a real estate agent.