VIC: Residential Tenancies Act Section 498AB Director to administer Rent Special Account

Director to administer Rent Special Account

(1) The Director must establish a trust account to be called the "Rent Special Account".

(2) There must be paid into the Rent Special Account all money paid under an order of the Tribunal authorising the payment of rent or hiring charges into that Account.

(3) Money in the Rent Special Account may be paid out only in accordance with section 77, 134, 193 or 206ZZAF.

(4) There must be paid into the Residential Tenancies Fund any amount of interest received on the investment of the Rent Special Account.

(5) The Director must open and maintain accounts at an ADI for the purposes of the Rent Special Account.