VIC: Residential Tenancies Act Section 435 Residential Bonds Account

Residential Bonds Account

(1) The Authority must establish an account to be called the Residential Bonds Account.

(2) There must be paid into the Residential Bonds Account all amounts of bond received by the Authority under this Act.

(3) The Authority must pay out of the Residential Bonds Account all amounts of bond— (a) authorised by or under this Act to be paid out of the Residential Bonds Account; or (b) directed by the Tribunal or a court to be paid out of the Residential Bonds Account.