NSWIn ForceRegulation
Property and Stock Agents Regulation 2022
21Provision of unique identifying number when opening a trust account—the Act, ss 86 and 91
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#### 21 Provision of unique identifying number when opening a trust account—the Act, ss 86 and 91
21 Provision of unique identifying number when opening a trust account—the Act, ss 86 and 91
> > (1) A licensee must, when applying to open a trust account at an authorised deposit-taking institution, provide the authorised deposit-taking institution with a unique identifying number obtained from the Department.
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> > Maximum penalty—
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> > > (a) for a corporation—40 penalty units, or
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> > > (b) otherwise—20 penalty units.
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> > (2) The authorised deposit-taking institution must use the unique identifying number when lodging monthly returns in accordance with the Act, section 91(1)–(3).