42Payment by electronic funds transfer

42 Payment by electronic funds transfer (1) This section applies to the withdrawal of trust money from a general trust account of a law practice by electronic funds transfer. (2) An electronic funds transfer must be effected by, under the direction of or with the authority of— (a) an authorised principal of the law practice; or (i) an authorised legal practitioner associate; or (ii) an authorised Australian legal practitioner who holds an (iii) 2 or more authorised associates jointly. (3) A written record of the required particulars must be kept of each payment unless at the time the electronic funds transfer is effected those particulars are recorded by computer program in the trust account payments cash book. (4) If at the time the electronic funds transfer is effected the required particulars are recorded by computer program in the trust account payments cash book, a written record must be kept that is sufficient to enable the accuracy of the particulars recorded by the computer program to be verified. (5) For subsections (3) and (4), the required particulars are as follows: transferred and relevant BSB number; (f) details clearly identifying the ledger account to be debited; (6) Written records relating to payments by electronic funds transfer (including transfer requisitions) must be kept in the order in which the transfers were effected. (7) In this section: authorised means authorised by the law practice to effect, direct or give authority for an electronic funds transfer from the general trust