46Journal transfers

#### 46 Journal transfers 46 Journal transfers > > (1) Trust money may be transferred by journal entry from one trust ledger account in a law practice’s trust ledger to another trust ledger account in the trust ledger, but only if the law practice is entitled to withdraw the money and pay it to the other trust ledger account and— > > > > > (a) the transfer is authorised in writing by an authorised principal of the law practice or if such a principal is not available— > > > > > > > (i) an authorised legal practitioner associate of the law practice, or > > > > > > > (ii) an authorised Australian legal practitioner who holds an Australian practising certificate authorising the receipt of trust money, or > > > > > > > (iii) two or more authorised associates jointly, or > > > > > (b) the transfer is authorised in writing by an external intervener for the law practice. > > > (2) A law practice must keep a trust account transfer journal if it transfers trust money by journal entry. > > > (3) The following particulars must be recorded in the trust account transfer journal in respect of each transfer of trust money by journal entry— > > > > > (a) the date of the transfer, > > > > > (b) the trust ledger account from which the money is transferred (including the appropriate ledger reference, the name of the person on whose behalf the transfer was made and the matter description), > > > > > (c) the trust ledger account to which the money is transferred (including the appropriate ledger reference, the name of the person on whose behalf the transfer was made and the matter description), > > > > > (d) the amount transferred, > > > > > (e) particulars sufficient to identify the reason for the transfer. > > > (4) Journal pages or entries must be consecutively numbered. > > > (5) A law practice must keep particulars of the authorisation for each transfer of trust money by journal entry, whether in the trust account transfer journal or in some other way.