In SA, what are the consequences for a land agent who commingles trust funds with their own business or personal funds?
Correct Answer
B) Prosecution and disciplinary action, which can include cancellation of registration
Section 13(2) of the Land Agents Act 1994 (SA) forbids paying money other than trust money into a trust account and withdrawing trust money except as the Act permits; misappropriating trust money carries heavier penalties including imprisonment. The Commissioner can suspend, cancel or impose conditions on registration, and complaints can be taken to SACAT for disciplinary orders.
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