Australian Capital Territory Numbered Acts

JUSTICE AND COMMUNITY SAFETY LEGISLATION AMENDMENT ACT 2004 (NO 2) (NO. 32 OF 2004) - SECT 7

New section 107 (3A)

insert

    (3A)     A licensed agent commits an offence if the agent pays an amount out of a trust account maintained by the agent otherwise than—

        (a)     by electronic transfer; or

        (b)     by using a cheque that—

              (i)     is expressed to be payable to a person specified in the cheque; and

              (ii)     clearly bears across the front of the cheque the addition of 2 parallel transverse lines with the words ‘not negotiable' between, or substantially between, the lines.

Note     This cheque is a ‘crossed cheque' (see Cheques Act 1986 (Cwlth), s 53).

Maximum penalty: 100 penalty units.