New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 33

33 Computer systems control--the Act, s 86

(1) This section applies if a licensee maintains records for the purposes of this Part using a computer system.

(2) The licensee must maintain a record of all changes, including creation, amendment or deletion, to the following information--

(a) the name of a person on behalf of whom the licensee acts,

(b) the address of a person on behalf of whom the licensee acts,

(c) the code reference number, if any, of a person on behalf of whom the licensee acts,

(d) an agency description,

(e) a trust account number.

(3) The record must--

(a) disclose the details of the information before and after the change, and

(b) be compiled in chronological sequence.

(4) The licensee must ensure, in relation to a journal--

(a) the entries balance before being made in the ledger, and

(b) journal reference numbers are allocated in sequence under program control.

(5) The licensee must ensure, in relation to a ledger, that no program--

(a) is capable of accepting the entry of a transaction resulting in a debit balance to an account unless a contemporaneous record of the transaction is made in a way that enables the production in permanent legible form, on demand, of a separate chronological report of all occurrences of this kind, and

(b) enables the deletion of an account unless--

(i) the balance of the account is zero, and

(ii) the account, when deleted, is kept as it was immediately before deletion, in a form from which the information can be produced on demand in permanent legible form in English.

(6) The licensee must also ensure the following--

(a) entries in a record produced in visible form appear in chronological sequence,

(b) a report, or each page of or entry in a report, is numbered sequentially under program control in a way that enables the completeness of the records required by this Part to be conveniently verified,

(c) no amendment to the particulars of a transaction already recorded can be made other than by a separate transaction effecting the amendment,

(d) each program requires the mandatory input of data for all data entry fields relating to information required to be recorded by this Part.

: Maximum penalty--

(a) for a corporation--40 penalty units, or

(b) otherwise--20 penalty units.