New South Wales Consolidated Acts

MOTOR DEALERS AND REPAIRERS ACT 2013 - SECT 92

92 Application of money in dealer's trust account

(1) A motor dealer must not apply money held in a trust account except for the following purposes--

(a) paying an amount payable to the consignor in respect of the motor vehicle,

(b) satisfying a debt due to the motor dealer from the consignor in respect of commission or other charges,

(c) paying the motor dealer an amount to which the motor dealer is entitled that was paid to the trust account but was not required to be paid to the trust account under this Division,

(d) a purpose approved in writing by the Secretary,

(e) a purpose prescribed by the regulations.

: Maximum penalty--20 penalty units.

(2) Money held in a trust account is not available for payment of the debts of a motor dealer or liable to be taken in execution under the order or process of a court, except as provided by this Division or the regulations.

(3) This Division does not take away or affect any just claim or lien that a person has against or on any money received from the sale of a motor vehicle on consignment.