Victorian Numbered Regulations Victorian Numbered Regulations(1) An estate agent who deposits trust money into an AFI, other than a deposit made directly by electronic means, must for each deposit of trust money received, make and give to their AFI a completed trust account deposit form at the time the deposit is made.
Penalty: 5 penalty units.
(2) For the purposes of subregulation (1), an estate agent making a trust account deposit form must record—
(a) the date of the deposit; and
(b) the name and number of the agent's trust account; and
(c) the amount of the deposit; and
(d) whether the deposit consists of cheques or cash and the total amount of all cheques and the total amount of cash received; and
(e) if the deposit includes cheques—
(i) the name of the drawer of the cheque; and
(ii) the name and branch (or the BSB number) of the AFI against which the cheque is drawn; and
(iii) the amount of the cheque.
Penalty: 10 penalty units.
(3) An estate agent must make and retain a duplicate copy of each completed trust account deposit form.
Penalty: 10 penalty units.