Queensland Consolidated Regulations

AGENTS FINANCIAL ADMINISTRATION REGULATION 2014

- Made under the Agents Financial Administration Act 2014
- As at 1 July 2022
- Reg 246 of 2014

TABLE OF PROVISIONS

   PART 1 - PRELIMINARY

   1.      Short title
   2.      Commencement
   2A.     Definitions

   PART 2 - ADMINISTRATION OF TRUST ACCOUNTS

           Division 1 - Trust account records

   3.      Principal agent must keep particular books, accounts and records
   4.      Using software to keep books, accounts and records
   5.      Entries in books, accounts and records

           Division 2 - Trust account receipts and deposits

   6.      Register of trust account receipt forms
   7.      Heading on trust account receipt forms
   8.      Obligation to complete a trust account receipt form
   9.      Completed trust account receipt form to contain particular information
   10.     Dealing with trust account receipt forms
   11.     Completed trust account deposit forms to contain particular information
   12.     Depositing trust money

           Division 3 - Trust account payments

   13.     Payments by cheque
   14.     Payments by electronic funds transfer

           Division 4 - Trust account cash books

   15.     Trust account cash book—trust money received
   16.     Trust account cash book—trust money paid
   17.     Trust account cash book reconciliation
   18.     Trust account cash book reconciliation details

           Division 5 - Trust account ledgers

   19.     Separate ledger account
   20.     Particulars to be included in ledger account
   21.     Trust account cash book entries to be posted to ledger account

           Division 6 - Trust account journals

   22.     Transfer by journal entry

           Division 7 - Transfer of trust accounts

   23.     Dealing with transferred trust accounts

   PART 3 - FEES

   24.     Fee to inspect or copy details in register of undertakings—Act, s 135(3)

   PART 4 - CLAIMS AGAINST FUND

   25.     Limits on recovery from fund—Act, s 113

   PART 5 - GENERAL

   26.     Keeping documents
   27.     Keeping documents in electronic form
   28.     Audit report details—Act, s 40(2)(s)

   PART 6 - TRANSITIONAL PROVISIONS

   29.     Definition for pt 6
   30.     Books, accounts and records
   31.     Retained records