118Secretary may freeze licensee’s accounts in particular cases

#### 118 Secretary may freeze licensee’s accounts in particular cases 118 Secretary may freeze licensee’s accounts in particular cases > > (1) A direction under this Division may be given when it appears to the Secretary that any of the following persons has, or may have, stolen, misappropriated or misapplied trust money— > > > > > (a) a licensee, > > > > > (b) the person in charge of a licensee’s business at a place, > > > > > (c) an employee of a licensee, > > > > > (d) any other person connected or formerly connected with a licensee. > > > (2) The Secretary may by direction in writing direct that— > > > > > (a) if a claim has been made against the Fund concerning the trust money, all or part of the amount to the credit of a specified account be paid to the Secretary, or > > > > > (b) an amount must not be drawn from a specified account other than with the Secretary’s written approval, or > > > > > (c) a specified account may be operated only under specified conditions. > > > (3) The direction must be given to each holder of the account and the financial institution at which the account is kept, and must identify the account to which it relates. > > > (4) Any amount paid to the Secretary pursuant to such a direction must be paid into the Fund. > > **s 118:** Am 2016 No 60, Sch 1 \[23\].