(1) Trust money held under the Agents Act 2003 immediately before the commencement day—
(a) is, for the Act, an amount received under the Agents Act 2003 ; and
(b) must, as soon as practicable, be paid into the ACAT trust account.
Note The Financial Management Act 1996 , s 51B deals with transfers of amounts between trust banking accounts.
(2) In this section:
"trust money"—see the Agents Act 2003 , section 162 as in force immediately before the commencement day.