sec.59Period for keeping trust records— Act , s 261

### sec.59 Period for keeping trust records— Act , s 261 This section prescribes, for section 261 of the Act , the period for which the trust records must be kept. A trust record must be kept for a period of 7 years after— for a trust record mentioned in paragraphs (a) to (m) of the definition trust records in section 237 (1) of the Act —the only or the last transaction entry in the trust record; or for any other trust record—finalisation of the matter to which the trust record relates. This section does not apply to a written direction mentioned in section 248 (1) (a) or 251 (1) of the Act . Sections 36 and 49 provide for periods for keeping written directions mentioned in sections 248 (1) (a) and 251 (1) of the Act . (sec.59-ssec.1) This section prescribes, for section 261 of the Act , the period for which the trust records must be kept. (sec.59-ssec.2) A trust record must be kept for a period of 7 years after— for a trust record mentioned in paragraphs (a) to (m) of the definition trust records in section 237 (1) of the Act —the only or the last transaction entry in the trust record; or for any other trust record—finalisation of the matter to which the trust record relates. (sec.59-ssec.3) This section does not apply to a written direction mentioned in section 248 (1) (a) or 251 (1) of the Act . Sections 36 and 49 provide for periods for keeping written directions mentioned in sections 248 (1) (a) and 251 (1) of the Act . - (a) for a trust record mentioned in paragraphs (a) to (m) of the definition trust records in section 237 (1) of the Act —the only or the last transaction entry in the trust record; or - (b) for any other trust record—finalisation of the matter to which the trust record relates.