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Trust Accounts Act 1973 – 23 September 2013

Trust Accounts Regulation 1999 – 1 July 2004

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An accountant who becomes a trustee shall, within 14 days after the person becomes a trustee, lodge with the supervising entity/government notice in writing of that fact in the approved form. Notification of setting up/establishing a trust account shall also be given and after establishment, trust monies are to be paid into that account pursuant to section 7 of the Act. Note: Strict rules apply in relation to withdrawal of trust monies. For these rules, refer to sections 8 and 12 of the Act and regulation 10 of the Trust Accounts Regulation 1999.

  • Sections 4, 4E, 5, 6, 7, 8, 12, 13, 16, 31, 33; Regulations 2, 2A, 3, 10, 23, 25, 26, 29, Schedule
Reason for law

N/A

Relevant links

Trust accounts [Queensland Government]

The Public Trustee

Critique

Regulation 1A is redundant with the repeal of section 4F of the Act.

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