Document ID: chunk:federal_register_of_legislation:C2023A00111:clause:3_100t
Version: federal_register_of_legislation:C2023A00111
Segment Type: clause
Provision Reference: sch 3 cl 100T
Character Range: 75459–76419

100T  Obligations in relation to trust account money
 (1) An eligible water markets intermediary to which this Division applies must pay to the credit of the trust account any money received on behalf of another person in relation to the water markets intermediary services provided by the eligible water markets intermediary.
 (2) The eligible water markets intermediary must not pay to the credit of the trust account any money other than in accordance with subsection (1).
 (3) The eligible water markets intermediary must not withdraw any money paid into the trust account, other than for the purpose of paying the money in accordance with subsection (4).
 (4) The eligible water markets intermediary must pay any money withdrawn from the trust account to the person or persons lawfully entitled to receive that money.
 (5) A person is liable to a civil penalty if the person contravenes subsection (1), (2), (3) or (4).
Civil penalty: 600 penalty units.