3Interpretation

3 Interpretation

(1)  In these regulations –

Act means the Property Agents and Land Transactions Act 2016 ;

ledger account means an account required under regulation 20(1) to be kept in the trust account ledger in respect of a person, property or transaction;

licensed conveyancer means a conveyancer licensed under the Conveyancing Act 2004 ;

personal representative, of a deceased person, means the executor or administrator of the estate of the deceased person;

reconcile has the meaning given by regulation 21(2) ;

reconciliation record means the record of the reconciliation of a trust account made under regulation 21 ;

schedule of invested trust money means a schedule required to be prepared under regulation 22(1) ;

trust account cash book means a cash book required to be kept under regulation 15(1) ;

trust account deposit record means a record required to be kept under regulation 11(1) after trust money is deposited;

trust account general journal means the journal of trust money transfers required to be kept under regulation 18(1) ;

trust account ledger means a ledger required to be kept under regulation 19 ;

trust account receipt means a receipt required to be issued under regulation 9(2) ;