Queensland Consolidated Regulations

TRUST ACCOUNTS REGULATION 1999 - REG 9

9 Depositing trust moneys

If a trustee deposits trust moneys into a trust account, the trustee must ensure—

(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.

Penalty—

Maximum penalty—10 penalty units.