As at October 2026, what is the maximum court penalty for a corporation convicted of dummy bidding at a NSW residential auction?
Correct Answer
A) $110,000
Changes to the Property and Stock Agents Act 2002 that started on 29 June 2026 raised the maximum court penalties for some offences, including dummy bidding, acting without a licence and mishandling trust money, to $110,000 for a corporation and $55,000 for an individual. The higher underquoting penalty is part of a later stage that has not yet started.
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As at October 2026, an individual NSW agent holds client deposits in her personal account instead of the trust account. What maximum court penalty applies to her for mishandling trust money?
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