(b) the money is thereafter to be dealt with in accordance with any applicable terms of the direction so far as those terms are not inconsistent with paragraph (a). (3) Controlled money received in the form of cash must be deposited in a controlled money account in accordance with section 71. (4) A licensee must deposit transit money received in S. 74(4) substituted by the form of cash in a general trust account of the No. 17/2007 licensee before the money is otherwise dealt with s. 24(2). in accordance with the instructions relating to the money. 120 penalty units. (4A) A licensee must deposit trust money that is S. 74(4A) inserted by received in the form of cash and is the subject of a No. 17/2007 power in a general trust account (or a controlled s. 24(2). money account in the case of controlled money) of the licensee before the money is otherwise dealt with in accordance with the power. 120 penalty units. (5) This section has effect despite anything to the S. 74(5) amended by contrary in a relevant direction, instruction or No. 17/2007 power. s. 24(3). (6) In this section— in relation to trust money, appropriate person, means a person who is legally entitled to give the licensee concerned directions in respect of dealings with the money;
(b) the money is thereafter to be dealt with in accordance with any applicable terms of the direction so far as those terms are not inconsistent with paragraph (a). (3) Controlled money received in the form of cash must be deposited in a controlled money account in accordance with section 71. S. 74(4) substituted by No. 17/2007 s. 24(2). (4) A licensee must deposit transit money received in the form of cash in a general trust account of the licensee before the money is otherwise dealt with in accordance with the instructions relating to the money. 120 penalty units. S. 74(4A) inserted by No. 17/2007 s. 24(2). (4A) A licensee must deposit trust money that is received in the form of cash and is the subject of a power in a general trust account (or a controlled money account in the case of controlled money) of the licensee before the money is otherwise dealt with in accordance with the power. 120 penalty units. S. 74(5) amended by No. 17/2007 s. 24(3). (5) This section has effect despite anything to the contrary in a relevant direction, instruction or power. (6) In this section— appropriate person, in relation to trust money, means a person who is legally entitled to give the licensee concerned directions in respect of dealings with the money;
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