60Trust money subject to specific powers—Act, s 226

60 Trust money subject to specific powers—Act, s 226 (1) This section has effect for the Act, section 226 (Trust money subject to specific powers). (2) If a law practice or an associate of the practice is given a power to deal with trust money for or on behalf of another person, the practice must keep— (a) a record of all dealings with the money to which the practice or associate is a party; and (b) all supporting information in relation to the dealings; in a way that enables the dealings to be clearly understood. (3) The record, supporting information and power must be kept by the law practice as part of the practice’s trust records.