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Sale of Motor Vehicles Act 1977
35Application of money in trust account
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35 Application of money in trust account (1) A licensed dealer shall not apply money paid into a trust account in accordance with this part except in payment to the person for whom or on whose behalf the money was received or as directed by that person. (2) A licensed dealer shall not pay money out of a trust account except by means of a cheque made payable to a specified person, being a cheque that is crossed ‘not negotiable’.