25Retention and disposal of trust account records

25 Retention and disposal of trust account records

(1)  A property agent must retain the property agent's trust account records for a period of not less than 6 years.

Penalty:  Fine not exceeding 50 penalty units.

(2)  Subregulation (1) does not apply to paper copies of trust account records that are kept electronically for a period of not less than 6 years.

(3)  A property agent must not remove the property agent's trust account records from the State without the written approval of the Board.

Penalty:  Fine not exceeding 50 penalty units.

(4)  A property agent who disposes of trust account records must do so by –

(a) burning, shredding, pulping or burying them; or

(b) disposing of them in any other way authorised by the Board.

Penalty:  Fine not exceeding 50 penalty units.