Western Australian Consolidated Acts

REAL ESTATE AND BUSINESS AGENTS ACT 1978 - SECT 100A

100A .         Information about trust accounts, Commissioner’s power to obtain

        (1)         The Commissioner may require —

            (a)         an agent to give the Commissioner such information as the Commissioner requires in relation to trust accounts maintained or formerly maintained by that agent; or

            (b)         the manager or other officer for the time being in charge of an authorised financial institution to give the Commissioner such information as the Commissioner requires in relation to trust accounts maintained or formerly maintained with that institution,

                including, without limiting this subsection, information as to the balances of and amounts of interest paid on such accounts.

        (2)         A requirement under subsection (1) —

            (a)         shall be given by notice in writing to the person required to give the information; and

            (b)         shall specify the time at or within which the information is to be given; and

            (c)         may, by its terms, require that the information be —

                  (i)         given in writing; and

                  (ii)         certified as correct by a person who is registered as an auditor, or taken to be registered as an auditor, under Part 9.2 of the Corporations Act 2001 of the Commonwealth and is specified in the requirement; and

                  (iii)         given at or sent or delivered to any place specified in the requirement; and

                  (iv)         sent or delivered by any means specified in the requirement; and

                  (v)         given on oath or affirmation or by statutory declaration;

                and

            (d)         shall state that the person to whom the notice is given is required under this Act to give the information.

        (3)         A person shall not, without reasonable excuse, refuse or fail to comply with a requirement under subsection (1).

        Penalty: $3 000.

        (4)         A person shall not give information in response to a requirement under subsection (1) that the person knows is false or misleading in a material particular.

        Penalty: $3 000.

        (5)         It is a defence in proceedings for an offence against subsection (3) for the person to show that —

            (a)         the notice under subsection (2)(a) did not state that the person was required under this Act to give the information; or

            (b)         the time specified in the requirement did not give the person sufficient notice to enable compliance with the requirement.

        (6)         Where a person is required to give information under subsection (1), the person shall not refuse to comply with that requirement on the ground that the information may tend to incriminate the person or render the person liable to any penalty.

        (7)         Despite subsection (6), information given under this section is not admissible in evidence in any proceedings against the person other than proceedings in respect of an offence against subsection (4).

        (8)         The power conferred by subsection (1) is in addition to any other powers of the Commissioner under this Act.

        [Section 100A inserted by No. 59 of 1995 s. 19; amended by No. 10 of 2001 s. 220; No. 58 of 2010 s. 134.]