#### 117 Definitions 117 Definitions > In this Division— > > account means— > > > (a) a trust account in a licensee’s name with a financial institution, or > > > (b) an account in a licensee’s name or in which a licensee has an interest with a financial institution, or > > > (c) another account to which trust money is deposited. > > financial institution includes an approved deposit-taking institution. > > holder of an account means the licensee or other person authorised to operate on the account. > > licensee includes a former licensee and the personal representative of a deceased licensee. > > trust money means money received for or on behalf of any person by a licensee (whether or not the money is deposited in a trust account required to be kept by a licensee).

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