Property and Stock Agents Act 2002
117Definitions
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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).