Agents should advise the Commissioner for Consumer Protection as soon as practicable, or within five working days, when a trust account is:

• opened, or
• closed or amended.

Examples of trust account titling

Agents are required to include the following information in the account title: 

Name Type: Entity name trading as (or "t/a") and business name as recorded on the triennial certificate REBA TRUST AC (the word account can be abbreviated or in full) TC followed by the triennial certificate number (up to five digits): 

i.e. ABC Pty Ltd t/a XYZ Real Estate REBA Trust AC TC 98765

Agents may have more than one trust account, such as for sales, rentals, a special project, strata etc, in which case account designators such as 'sales' or 'rentals' etc should appear after the words REBA Trust AC:

i.e. ABC Ply Ltd t/a XYZ RealEstate REBA Trust AC- Sales TC 98765

Real estate and business agents may hold separate interest bearing trust accounts:

i.e. ABC Pty Ltd t/a XYZ Real Estate In Trust For (may be abbreviated as 'ITF') John Smith REBA Trust AC TC 98765 - IB

Real Estate and Business Agents (General) Regulations 1979

6D. Designation of trust accounts

1. For the purposes of section 68(1) of the Act, a trust account is to be designated in the manner provided for in this regulation.
2. The designation of a trust account, other than a separate account, is to include-
   1. the description "REBA Trust Account";
   2. the name of the holder of the triennial certificate, and any business name of that holder, recorded in the register;and
   3. the letters "TC" followed by the triennial certificate number recorded in the register.
3. The designation of a separate account is to include
   1. the description "REBA Trust Account -IB";
   2. the name of the holder of the triennialcertificate, and any business name of that holder, recorded in the register;
   3. the words "in trust for" followed by the name of the person who requested the separate account; and
   4. the letters "TC" followed by the triennial certificate number recorded in the register.

[Regulation 6D inserted in Gazette 25 Jun 1996 p. 2918-19.]