s. 59 (6) It shall not be necessary for any agent's S. 59(6) representative to pay money received by him into amended by Nos 29/1989 a financial institution to a trust account pursuant s. 15(e), to this section; but every agent's representative 86/1994 s. 47(zm) shall pay forthwith to the licensed estate agent for (i)–(iii). whom he is acting as an agent's representative or to a trust account specified by the agent all money received from or on behalf of any person by the agent's representative in respect of any transaction in his capacity of agent's representative for the licensed estate agent. (7) Every estate agent shall— S. 59(7) amended by No. 1/2010 s. 13(3). S. 59(7)(a) (a) within 14 days of the opening of any trust amended by account under this section, notify the Nos 10028 Director in writing of the existence, name s. 33(c), 29/1989 and number of that account and the address s. 15(f), of the branch of the financial institution at 86/1994 s. 47(zl), which that account is held; 52/1998 s. 95. (b) within 14 days of the closure of any trust S. 59(7)(b) amended by account under this section, notify the Nos 86/1994 s. 47(zl), Director in writing of that closure. 52/1998 s. 95. 60 penalty units. (8) This section does not apply in relation to— S. 59(8) inserted by No. 41/2003 (a) a cheque received by an estate agent from a s. 37. tenant for the amount of bond made payable to the Residential Tenancies Bond Authority established under the Residential Tenancies Act 1997; (b) a cheque received by an estate agent from a S. 59(8)(b) amended by person made payable to another person in No. 17/2004 s. 8(1)(a). prescribed circumstances;
S. 59(6) amended by Nos 29/1989 s. 15(e), 86/1994 s. 47(zm) (i)–(iii). (6) It shall not be necessary for any agent's representative to pay money received by him into a financial institution to a trust account pursuant to this section; but every agent's representative shall pay forthwith to the licensed estate agent for whom he is acting as an agent's representative or to a trust account specified by the agent all money received from or on behalf of any person by the agent's representative in respect of any transaction in his capacity of agent's representative for the licensed estate agent. S. 59(7) amended by No. 1/2010 s. 13(3). (7) Every estate agent shall— s. 59 S. 59(7)(a) amended by Nos 10028 s. 33(c), 29/1989 s. 15(f), 86/1994 s. 47(zl), 52/1998 s. 95. (a) within 14 days of the opening of any trust account under this section, notify the Director in writing of the existence, name and number of that account and the address of the branch of the financial institution at which that account is held; S. 59(7)(b) amended by Nos 86/1994 s. 47(zl), 52/1998 s. 95. (b) within 14 days of the closure of any trust account under this section, notify the Director in writing of that closure. 60 penalty units. S. 59(8) inserted by No. 41/2003 s. 37. (8) This section does not apply in relation to— (a) a cheque received by an estate agent from a tenant for the amount of bond made payable to the Residential Tenancies Bond Authority established under the Residential Tenancies Act 1997; S. 59(8)(b) amended by No. 17/2004 s. 8(1)(a). (b) a cheque received by an estate agent from a person made payable to another person in prescribed circumstances;
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