In SA, what are the consequences for a land agent who commingles trust funds with their own business or personal funds?
Correct Answer
B) Disciplinary action including possible cancellation of registration, fines, and potential criminal prosecution
Commingling trust funds is a serious offence under the Land Agents Act 1994. It can result in disciplinary action by the Commissioner, cancellation of the agent's registration, substantial fines, and potential criminal prosecution.
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