Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(1) This section applies if trust money mentioned in the Act, section 212 (3) (Money involved in financial services or investments) is invested by a law practice for or on behalf of a client, but this section does not itself give power to make investments.
(2) The law practice must keep a register of investments of trust money.
(3) The register must record the following information in relation to each investment:
(a) the name in which the investment is held;
(b) the name of the person on whose behalf the investment is made;
(c) the person's address;
(d) particulars sufficient to identify the investment;
(e) the amount invested;
(f) the date the investment was made;
(g) particulars sufficient to identify the source of the investment, including, for example—
(i) a reference to the relevant trust ledger; and
(ii) a reference to the written authority to make the investment; and
(iii) the number of the cheque for the amount to be invested;
(h) details of any documents evidencing the investment;
(i) details of any interest received from the investment or credited directly to the investment;
(j) details of the repayment of the investment and any interest, on maturity or otherwise.
Note An example is part of the regulation, is not exhaustive and may extend, but does not limit, the meaning of the provision in which it appears (see Legislation Act, s 126 and s 132).
(4) This section does not require particulars to be recorded in the register if the particulars are required to be recorded elsewhere by another section.