98Obligation for credit service licensees to maintain trust account

98  Obligation for credit service licensees to maintain trust account Requirement to maintain trust account  (1) The credit service licensee must maintain one more trust accounts (the trust account) in accordance with this section. Requirements for trust accounts  (2) The trust account must be maintained with an Australian ADI (within the meaning of section 9 of the Corporations Act 2001).  (3) The trust account must be designated as the credit service licensee’s trust account.  (4) The credit service licensee commits an offence if:  (a) the credit service licensee is subject to a requirement under subsection (1); and