Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Where the
Commissioner, on an application made by it to the State Administrative
Tribunal, shows by evidence on affidavit to the satisfaction of the State
Administrative Tribunal that —
(a)
there are reasonable grounds for believing that there is a deficiency in a
trust account maintained in compliance with section 48 by any finance broker;
or
(b)
there has been undue or unreasonable refusal, neglect or delay on the part of
any finance broker in paying moneys,
(i)
which are, or may be, or have been payable out of a trust
account maintained in compliance with section 48 by the finance broker; or
(ii)
which were required to be paid into a trust account by
the finance broker under the provisions of this Division,
to a person who is
entitled thereto or is authorised to receive the moneys,
the State
Administrative Tribunal may, if it thinks fit, make an order that the manager
or other officer for the time being in charge of the bank in which the trust
account or any other account in the name of the finance broker is kept, be
restrained, until the order is made absolute or discharged, from paying out,
transferring or otherwise dealing with any moneys standing to the credit of
the trust account or any other account kept at the bank in the name of the
finance broker.
(2) An order made
under the provisions of this section may contain such terms and conditions as
the State Administrative Tribunal in the circumstances thinks fit and the
order may relate to all or any one or more of the trust or other accounts, as
the State Administrative Tribunal determines.
(3) The order shall be
made in the first instance ex parte , without any notice to the finance broker
and is an order to show cause only.
(4) Unless the finance
broker referred to in the order shows to the State Administrative Tribunal
within the time specified in the order sufficient cause to the contrary, the
order, after proof of service as required by section 79, shall be made
absolute.
(5) In this section
and in such provisions of other following sections of this Division as relate
to this section or an order made under it —
(a)
trust account includes a bank account, whether a general or a separate
account, into which account, moneys received or held by a finance broker for
or on behalf of any other person are or were required to be paid under this
Division; and
(b)
finance broker includes a person who has carried on business as a finance
broker at any time within a period of 12 months prior to the date of the
making of the application under subsection (1).
[Section 72 amended by No. 53 of 2004
s. 55; No. 55 of 2004 s. 358; No. 14 of 2010 s. 69.]
[ 73-80. Deleted by No. 14 of 2010
s. 70.]