Trust Account(S) Exemption Notice Form printable pdf download

(conv. pink form)

TRUST ACCOUNT(S) EXEMPTION NOTICE

CONVEYANCERS LICENSING ACT 2003

SECTIONS 53(6) & 57(2)

EXEMPT TRUST ACCOUNTS

This form is to be completed by licensed agents at the time of opening to notify authorised deposit-taking institutions, in accordance

with Sections 53(6) and 57(2) of the Act, * for separate Trust Account(s) that are exempt accounts under the provision of section 90 (7)

of the Property, Stock and Business Agents Act 2002.

INSTRUCTIONS TO THE LICENSEE:

This form is to be completed if the Licensed Entity is opening separate Trust Account(s) of the following type only;

* any separate Trust Account opened for a vendor and purchaser of land opened jointly for their exclusive benefit

* any other separate Trust Account for the exclusive benefit of the client that is opened with the instructions of the client

This form should be endorsed by an officer of the authorised deposit-taking institution at the time of lodgement.

The original is retained by the authorised deposit-taking institution.

The duplicate must be retained by the Licensed Entity as verification of compliance with sections 53(6) & 57(2) of the Act.

INSTRUCTIONS TO THE AUTHORISED DEPOSIT-TAKING INSTITUTION:

The original is retained by the authorised deposit-taking institution.

The authorised deposit-taking institution must acknowledge receipt of the original notice by endorsing the duplicate.

The duplicate is to be returned to the Licensee.

The authorised deposit-taking institution in accordance with sections 53(6) & 57(2) is not required to:-

Property, Stock and Business Agents Act 2002

(a) Pay interest to NSW Fair Trading under Section 90 of the

, or

(b) Provide NSW Fair Trading with any information in accordance with Section 91 of that Act, as these accounts are exempt

Name of Authorised Deposit-Taking Institution: _________________________________________________________________________

Branch Address:

________ ________________________________________________B.S.B. No.: #_____________________________

______________________________________________________________________________________________________

Name of Licensed Entity: ___________________________________________________Licence No.: _________________________

Address: ______________________________________________________________________________________________________

______________________________________________________________________________________________________

DETAILS OF EXEMPT TRUST ACCOUNT(S);

Trust Account Full Name:________________________________________________________________________________

_________________________________________________________Trust Account No:. #

________________________

2.*

Trust Account Full Name:________________________________________________________________________________

_________________________________________________________Trust Account No:. #

________________________

3.*

Trust Account Full Name:________________________________________________________________________________

_________________________________________________________Trust Account No:. #

________________________

* DELETE IF NOT APPLICABLE.

# ENSURE THIS INFORMATION IS COMPLETE AT TIME OF ENDORSEMENT BY THE INSTITUTION.

AUTHORISED DEPOSIT-TAKING INSTITUTION ENDORSEMENT

Receipt is acknowledged of the original of this notice:-

Lodged By: ______________________________________

(Name of Licensee)

Signature:

______________________________________

__________________________________

_______________________________

(Signature and Branch Stamp)

(Date)

Date:

_______________________________

Trust Account(S) Exemption Notice Form

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