(1)Where any person by reason of his receiving the rent of immovable property as agent, trustee, guardian, manager or receiver or of his being agent, trustee, guardian, manager or receiver for the person who would receive the rent if the property were let to a tenant would under this Act, be bound to discharge any obligation imposed by this Act or rule, bye-law, regulation or order made thereunder on the owner of the property and for the discharge of which money is required, he shall not be bound to discharge the obligation unless he has, or but for his own improper act or default, might have had in his hands, funds belonging to the owner sufficient for the purpose.
