THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 7 - SECURITIES

PART 7.6 - MONEY AND SCRIP OF DEALERS' CLIENTS

SECTION 871   TRUST MONEY NOT AVAILABLE IN RESPECT OF DEALER'S OWN DEBTS  

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871(1)  [Trust money not to pay licensee's debts]  

Subject to this Part, money in a trust account of the holder of a licence is not available for the payment of a debt or liability of the licensee.

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History

S 871(1) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

871(2)  [Trust money not to be attached, etc.]  

Subject to this Part, money in a trust account of the holder of a licence (including a licence within the meaning of a law corresponding to this section) is not liable to be attached, or taken in execution, under the order or process of a court at the instance of a person suing in respect of such a debt or liability.

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History

S 871(2) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

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