Versions

 

4. Security

(1) The applicant must, before a certificate is issued —
(a) lodge in Court by way of bond security totalling US$10,000; or
(b) satisfy the Registrar that security totalling that amount is already subsisting by way of bond.
(2) The security must be retained once the certificate has been issued for the purpose of securing the certified person's duties as an enforcement agent and the payment of any reasonable costs, fees and expenses incurred in the investigation of any complaint made to the Court against the certified person in the capacity of an enforcement agent.
(3) The certified person must maintain the security throughout the duration of the certificate.
(4) If at any time during the duration of the certificate the security no longer exists, or is reduced in value so it totals less than US$10,000, the certified person must, by such time as the Court may direct, provide fresh security to the satisfaction of the Court.