(1)  A property agent may prepare and store trust account records in writing or electronically.

(2)  If trust account records are prepared electronically, the property agent must –

(a) keep printed records of the electronic records for the period of one year after the audit of those records is completed; and

(b) at least once in each calendar month, separate the electronic trust account records into individual accounts for each month; and

(c) have a means of retrieving the electronic records; and

(d) record, in writing, details of how the electronic records may be retrieved.

Penalty:  Fine not exceeding 50 penalty units.