New South Wales Consolidated Regulations

LEGAL PROFESSION REGULATION 2005 - REG 69

69 Trust account payments cash book

(1) The following particulars must be recorded in a law practice’s trust account payments cash book in respect of each payment of trust money by cheque:

(a) the date and number of the cheque,

(b) the amount ordered to be paid by the cheque,

(c) the name of the person to whom the payment is to be made or, in the case of a cheque made payable to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,

(d) details clearly identifying the name of the person on whose behalf the payment was made and the matter reference,

(e) details clearly identifying the ledger account to be debited,

(f) particulars sufficient to identify the purpose for which the payment was made.

(2) The following particulars must be recorded in a law practice’s trust accounts payments cash book in respect of each payment of trust money by electronic funds transfer:

(a) the date and number of the transaction,

(b) the amount transferred,

(c) the name and number of the account to which the amount was transferred and the relevant BSB number,

(d) the name of the person to whom the payment was made or, in the case of a payment to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,

(e) details clearly identifying the name of the person on whose behalf the payment was made and the matter reference,

(f) details clearly identifying the ledger account to be debited,

(g) particulars sufficient to identify the purpose for which the payment was made.

(3) The particulars in respect of payments must be recorded in the order in which the payments are made.

(4) The particulars in respect of a payment must be recorded within 5 working days counting from and including the day the payment was made.