QLDIn ForceRegulation
Trust Accounts Regulation 1999
sec.6Dealing with trust account receipt forms
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sec.6 Dealing with trust account receipt forms
A trustee must ensure— a trust account receipt form— is used only for the receipt of trust moneys; and includes the particulars mentioned in section 5 (1) ; and is given to the person from whom trust moneys are received; and a legible copy of each trust account receipt form given by the trustee is kept securely in the trustee’s records; and if the trustee cancels a receipt form, the form is kept securely in the trustee’s records. Maximum penalty—10 penalty units.
- (a) a trust account receipt form— (i) is used only for the receipt of trust moneys; and (ii) includes the particulars mentioned in section 5 (1) ; and (iii) is given to the person from whom trust moneys are received; and
- (i) is used only for the receipt of trust moneys; and
- (ii) includes the particulars mentioned in section 5 (1) ; and
- (iii) is given to the person from whom trust moneys are received; and
- (b) a legible copy of each trust account receipt form given by the trustee is kept securely in the trustee’s records; and
- (c) if the trustee cancels a receipt form, the form is kept securely in the trustee’s records.
- (i) is used only for the receipt of trust moneys; and
- (ii) includes the particulars mentioned in section 5 (1) ; and
- (iii) is given to the person from whom trust moneys are received; and