Victorian Numbered Regulations Victorian Numbered Regulations(1) An estate agent who holds securities and documents of title for trust money on behalf of another person must keep a register of the following—
(a) all securities for money the title to which is transferable by delivery, held by the estate agent on behalf of another person;
(b) all securities and documents of title held on behalf of another person—
(i) by the estate agent in the estate agent's own name; or
(ii) by the estate agent in joint names with another estate agent; or
(iii) under the control of the estate agent; or
(iv) under the joint control of the estate agent with another estate agent;
(c) all receipts for the deposit of money with any person made on behalf of another person—
(i) by the agent in the estate agent's own name; or
(ii) by the estate agent in joint names with another agent; or
(iii) under the control of the estate agent; or
(iv) under the joint control of the estate agent with another estate agent.
Penalty: 10 penalty units.
(2) An estate agent must ensure that a register kept for the purposes of subregulation (1) shows—
(a) the date on which the security, document of title, or receipt was received; and
(b) a description of the security, document of title, or receipt; and
(c) the value or amount of the security or money deposited; and
(d) the name of the person for whom the security, document of title, or receipt is held; and
(e) the date of delivery of the security, document of title, or receipt by the agent to another person, and the name of the person to whom it is given; and
(f) the reason why the security, document of title, or receipt is being held; and
(g) if the security, document of title, or receipt is held jointly with another agent, the name under which the other agent operates an estate agency business.
Penalty: 5 penalty units.
Division 2—Computerised accounting system