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CONSUMER AFFAIRS LEGISLATION AMENDMENT ACT 2010 (NO. 1 OF 2010) - SECT 75

Deposit moneys held by legal practitioner, conveyancer or estate agent to be held as stakeholder

See:
Act No.
6975.
Reprint No. 13
as at
1 July 2008
and amending
Act Nos
6/2008 and 12/2008.
LawToday:
www.
legislation.
vic.gov.au

For section 24(1A) of the Sale of Land Act 1962 substitute

    "(2)     This section does not prevent the transfer of deposit moneys from—

        (a)     a legal practitioner, estate agent or conveyancer to another legal practitioner, estate agent or conveyancer if that other legal practitioner, estate agent or conveyancer is acting for the vendor in relation to the sale; or

        (b)     a vendor to a legal practitioner, estate agent or conveyancer acting for that vendor.

    (3)     Any deposit moneys transferred under subsection (2) must continue to be held by the person to whom they were transferred as a stakeholder under this Division.".

__________________

See:
Act No.
60/1995.
Reprint No. 1
as at
12 August 1999
and amending
Act Nos
17/2000, 44/2001, 108/2004, 32/2006 and 2/2008.
LawToday:
www.
legislation.
vic.gov.au



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