Agents Licensing Fidelity Guarantee Fund
The Agents Licensing Fidelity Guarantee Fund of the Northern Territory is established under Part XII of the Agents Licensing Act 1979.
The fund is responsible for maintaining and operating monies including:
- interest on licensed agents’ trust accounts
- licence and registration fees
- interest on investments
- fines imposed by the Agents Licensing Board.
The fund may compensate a person who suffers a pecuniary loss arising from misappropriation of trust monies or any other property.
The fund meets quarterly and has three members.