Trust Accounts Regulation 1999
sec.9Depositing trust moneys
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sec.9 Depositing trust moneys
If a trustee deposits trust moneys into a trust account, the trustee must ensure— if the trust moneys are deposited other than by way of electronic funds transfer—a copy of the trust account deposit form is kept securely in the trustee’s records; and if the trust moneys are deposited by way of electronic funds transfer— the trustee receives a document, other than a financial institution statement balance, from the financial institution into which the trust moneys are paid acknowledging the receipt of the trust moneys into the trust account; and the document is kept securely in the trustee’s records. Maximum penalty—10 penalty units.
- (a) if the trust moneys are deposited other than by way of electronic funds transfer—a copy of the trust account deposit form is kept securely in the trustee’s records; and
- (b) if the trust moneys are deposited by way of electronic funds transfer— (i) the trustee receives a document, other than a financial institution statement balance, from the financial institution into which the trust moneys are paid acknowledging the receipt of the trust moneys into the trust account; and (ii) the document is kept securely in the trustee’s records.
- (i) the trustee receives a document, other than a financial institution statement balance, from the financial institution into which the trust moneys are paid acknowledging the receipt of the trust moneys into the trust account; and
- (ii) the document is kept securely in the trustee’s records.
- (i) the trustee receives a document, other than a financial institution statement balance, from the financial institution into which the trust moneys are paid acknowledging the receipt of the trust moneys into the trust account; and
- (ii) the document is kept securely in the trustee’s records.