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Q1. Outline the maximum penalty for not paying trust monies collected on behalf of a client into the trust account according to the Property and

Q1. Outline the maximum penalty for not paying trust monies collected on behalf of a client into the trust account according to the Property and Stock Agents Act 2002 (NSW)?

Q2. Explain the requirements for having the authority to sign cheques or EFT for payments from the trust accounts?

Q3. Explain the requirements for maintaining trust accounting records by a computer system.Provide at least three (3) points?

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