Queensland Consolidated Regulations
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TRUST ACCOUNTS REGULATION 1999
- Made under the Trusts Accounts Act 1973
- As at 1 September 2017
- Reg 140 of 1999
TABLE OF PROVISIONS
PART 1 - PRELIMINARY
1. Short title
PART 1A - APPLICATION OF ACT TO PARTICULAR PERSONS
1A. Non-application of Act to particular classes of persons—Act, s 4F
PART 2 - SUPERVISING ENTITY
2. Supervising entity for application of Funeral Benefit Business Act 1982
2A. Supervising entity for a trustee who is a solicitor
PART 3 - RECORD KEEPING
Division 1 - Prescribed books, accounts and records
3. Books, accounts and records to be kept by trustees
Division 2 - Register of trust account receipt forms
4. Register
Division 3 - Trust account receipt books
5. Receipt forms
6. Dealing with trust account receipt forms
7. Trustee may destroy unused receipt forms
Division 4 - Trust account deposit book
8. Trust account deposit forms
9. Depositing trust moneys
Division 5 - Disbursement of trust moneys
10. Disbursements
Division 6 - Trust account cash book
11. Trust account cash book—entries
12. Trust account cash book—reconciliation
Division 7 - Trust account ledger
13. Keeping trust account ledgers
14. Trust account ledger—form
15. Trust account cash book entries to be posted to ledger account
Division 8 - Records of investments
16. Trustee to keep records of investments
17. How trustee accounts for investments
18. Particulars of investment control account and investment ledger accounts
19. Dealing with investments
20. Interest on investments
Division 9 - Trust account journals
21. Transfer by journal entry
Division 10 - Computer system records
22. Keeping computer system records
PART 4 - AUDITS AND EXAMINATIONS
23. Auditor’s report
24. Trustee to give copy of audit report to auditor
25. Trustee may give statement instead of auditor’s report
26. Auditing procedures and standards
27. Unannounced examination
PART 5 - PROFESSIONAL INDEMNITY INSURANCE
28. Prescribed amount
PART 6 - SECURITY
Division 1 - Form
29. Prescribed security
Division 2 - Payment from security
30. When payment may be made
31. Public notice of intention to make a payment
32. Application for payment
33. Payment to more than 1 person
Division 3 - Return of security
34. When security is returned to trustee
PART 7 - (Repealed)
SCHEDULE - Prescribed information for audit report
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