In NSW, this appears to be a way to report losses due to unlawful behaviour by people in business sales or property, and to make a claim for lost money. Don’t know about other states.
Real Estate Agents and Business Brokers are required to pay into this fund.
Worth a look so you know it exists, but hope you never need it.Property Services Compensation Fund- NSW Fair Trading. You can view it at: http://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Selling_property/Using_an_agent/Property_services_compensation_fund.htm
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
"The Property Services Compensation Fund (the Fund) was set up to assist people who find themselves out of pocket because an agent or conveyancer, in the course of carrying on the business of a licensee, has failed to account for money or other valuable property held in trust."
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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