32Records—additional requirements for strata managing agents—the Act, s 86

#### 32 Records—additional requirements for strata managing agents—the Act, s 86 32 Records—additional requirements for strata managing agents—the Act, s 86 > > (1) A strata managing agent must also keep either— > > > > > (a) a single trust account ledger in a form permitting each account for an owners corporation or association for or on behalf of which the agent holds money to be physically removed from the ledger, or > > > > > (b) a separate trust account ledger for each owners corporation or association for or on behalf of which the agent holds money. > > > (2) A strata managing agent must ensure each ledger kept for an owners corporation or association contains sufficient information to identify the owners corporation or association for which it is kept. > > Maximum penalty— > > > (a) for a corporation—40 penalty units, or > > > (b) otherwise—20 penalty units.