Victorian Numbered Regulations

ESTATE AGENTS (GENERAL, ACCOUNTS AND AUDIT) REGULATIONS 2018 (SR NO 48 OF 2018) - REG 31

    (1)     An estate agent who holds trust money must keep on each file relating to the trust money, full and accurate particulars of—

        (a)     all expenses incurred by the estate agent; and

        (b)     all payments made out of the estate agent's own money; and

        (c)     commission and other charges relating to any payment made out of the trust money—

in relation to that file.

Penalty:     20 penalty units.

    (2)     An estate agent must retain in a permanent form—

        (a)     every trust record and statement which the agent is required by these Regulations to keep; and

        (b)     any files where the estate agent has received or is entitled to receive any commission, or where trust money has been received.

Penalty:     20 penalty units.