Pari-
By checking my past posts you can clearly see I'm on your side in the escrow/trust war, therefore, don't piss me off, until you find some better friends
. Please fact check thoroughly before telling me I'm wrong.
As always my a#s is backed up:
Safeguard of Punter's Funds
>
> The regulation of the
> ACT Racing and Gambling Commission > the rules contained in Determinations under The
> Australian Capital Territory Race and Sports
> Bookmaking Act 2001 ("ACT Regulations").
>
> Below are some of the explicit provisions in
> those Determinations:
>
> Section E.1.1 Sports bookmakers shall
> establish a segregated bank account specifically for
> the purpose of holding moneys on behalf of clients.
>
> Section E.1.1.1 All monies provided by
> clients are to be maintained in the segregated
> client accounts.
>
> Section E.1.1.2 For the purpose of this
> section a segregated account means an account,
> established for the purpose, that holds all client
> moneys.
>
> Section E.1.1.3 Funds standing to the credit
> of the segregated bank accounts shall be treated in
> accordance with the provisions of the Trustee Act
> 1957.
Play safe everybody