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Registry@lsbc.vic.gov.auNotification of person(s) no longer authorized to operate statutory deposit account Please use this form to notify the Victorian Legal Services Board of any individuals who

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How to fill out statutory deposit accounts

01

Obtain the necessary forms from the appropriate authority or financial institution.

02

Fill out the forms accurately with all required information, including personal details and deposit amount.

03

Provide any additional documentation or proof as requested.

04

Submit the completed forms and deposit amount to the authorized entity.

05

Keep a record of the transaction and any receipts for future reference.

Who needs statutory deposit accounts?

01

Statutory deposit accounts are typically required for individuals or businesses operating in industries regulated by government agencies, such as banking, insurance, and securities.

02

They may also be needed by individuals or organizations looking to demonstrate financial stability or compliance with certain legal requirements.

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What is statutory deposit accounts?

Statutory deposit accounts are accounts where financial institutions are required to deposit a certain percentage of their liabilities with a central bank or other specified entity.

Who is required to file statutory deposit accounts?

Financial institutions such as banks and credit unions are typically required to file statutory deposit accounts.

How to fill out statutory deposit accounts?

Statutory deposit accounts are filled out by providing information on the institution's liabilities and depositing the required percentage with the designated entity.

What is the purpose of statutory deposit accounts?

The purpose of statutory deposit accounts is to ensure that financial institutions have enough funds on hand to cover potential liabilities.

What information must be reported on statutory deposit accounts?

Financial institutions must report on their liabilities and the percentage of those liabilities that have been deposited in the statutory accounts.

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