(1) A dealer shall
not, without the prior written approval of the Commissioner, withdraw money
paid into a trust account from the sale of a vehicle under a consignment
agreement, except for the purpose of —
paying an amount properly payable to —
the consignor of the vehicle concerned or a person
authorised by him; or
the holder of a security interest in the vehicle;
satisfying a debt due to the dealer by the consignor for commission or other
paying an amount that is authorised by the regulations to be paid.
Penalty: $5 000.
(2) Except as
otherwise provided by the regulations, money held in a trust account is not
available for payment of the debts of a dealer or liable to be taken in
execution under the order or process of a court.
(3) Nothing in this
Division takes away or affects a lawful claim or lien that a person has
against or on any money received from the sale of a vehicle under a
[Section 32E inserted: No. 4 of 2002 s. 57;
amended: No. 58 of 2010 s. 50.]