13 Division 1—Preliminary 13 3.3.1 Operation of this Part 13 3.3.2 Definitions 13 Division 2—Computerised accounting systems 14 3.3.3 Application of Division 14 3.3.4 Copies of trust records to be printed 14 3.3.5 Chronological record of information to be made 15 3.3.6 Requirements regarding computer accounting systems 16 3.3.7 Back-ups 17 Division 3—General trust accounts 17 3.3.8 Establishment of general trust account 17 3.3.9 Receipting of trust money 19 3.3.10 Deposit records for trust money 20 3.3.11 Direction for non-deposit of trust money in general trust account 21 3.3.12 Payment by cheque 21 3.3.13 Payment by electronic funds transfer 24 3.3.14 Recording transactions in trust account cash books 26 3.3.15 Trust account receipts cash book 27 3.3.16 Trust account payments cash book 28 3.3.17 Recording transactions in trust ledger accounts 29 3.3.18 Journal transfers 32 3.3.19 Reconciliation of trust records 34 3.3.20 Trust ledger account in name of law practice or legal practitioner associate 35 3.3.21 Trust ledger account in name of approved clerk 36 Division 4—Controlled money 37 3.3.22 Maintenance of controlled money accounts 37 3.3.23 Receipt of controlled money 37 3.3.24 Deposit of controlled money 39 3.3.25 Withdrawal of controlled money must be authorised 39 3.3.26 Register of controlled money 41 Division 5—Transit money 43 3.3.27 Information to be recorded about transit money 43 Division 6—Trust money generally 43 3.3.28 Trust account statements—law practices 43 3.3.29 Trust account statements for sophisticated clients 45 3.3.30 Register of investments 45 3.3.31 Trust money subject to specific powers 47
13 Division 1—Preliminary 13 3.3.1 Operation of this Part 13 3.3.2 Definitions 13 Division 2—Computerised accounting systems 14 3.3.3 Application of Division 14 3.3.4 Copies of trust records to be printed 14 3.3.5 Chronological record of information to be made 15 3.3.6 Requirements regarding computer accounting systems 16 3.3.7 Back-ups 17 Division 3—General trust accounts 17 3.3.8 Establishment of general trust account 17 3.3.9 Receipting of trust money 19 3.3.10 Deposit records for trust money 20 3.3.11 Direction for non-deposit of trust money in general trust account 21 3.3.12 Payment by cheque 21 3.3.13 Payment by electronic funds transfer 24 3.3.14 Recording transactions in trust account cash books 26 3.3.15 Trust account receipts cash book 27 3.3.16 Trust account payments cash book 28 3.3.17 Recording transactions in trust ledger accounts 29 3.3.18 Journal transfers 32 3.3.19 Reconciliation of trust records 34 3.3.20 Trust ledger account in name of law practice or legal practitioner associate 35 3.3.21 Trust ledger account in name of approved clerk 36 Division 4—Controlled money 37 3.3.22 Maintenance of controlled money accounts 37 3.3.23 Receipt of controlled money 37 3.3.24 Deposit of controlled money 39 3.3.25 Withdrawal of controlled money must be authorised 39 3.3.26 Register of controlled money 41 Division 5—Transit money 43 3.3.27 Information to be recorded about transit money 43 Division 6—Trust money generally 43 3.3.28 Trust account statements—law practices 43 3.3.29 Trust account statements for sophisticated clients 45 3.3.30 Register of investments 45 3.3.31 Trust money subject to specific powers 47
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