Trust Accounts Regulation 1999

If a trustee receives trust moneys, or pays trust moneys to someone, the trustee must, within 2 days after the day the moneys are received or paid, enter the following particulars in the trust account cash book—

if trust moneys are received—

the date the moneys are received; and

the name of the person from whom the moneys are received; and

the name of the person on whose behalf the moneys are received; and

a brief description of the matter for which the moneys are received; and

the amount received; and

the date the trust moneys are paid into the trust account;

if trust moneys are paid—

the date the moneys are paid; and

the name of the person to whom the moneys are paid; and

the name of the person on whose behalf the moneys are paid; and

a brief description of the matter for which the moneys are paid; and

the amount paid.

However, if a trustee receives trust moneys by way of electronic funds transfer, the trustee may enter the particulars in the trust account cash book on the day the trustee becomes aware of the receipt.