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©State of Queensland
BY AUTHORITY
S. R. NAMPSON, GOVERNMENT PRINTER, QUEENSLAND-1990
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Citation
Commencement epeal
Arrangement Interpretation
PART II-BOOJC3, ACCOUNTS AND RECORDS Books etc. required to be kept
Trust Account Bank Deposit Book Trust Account Cash Book
Trust Account Ledger
Registrar's approval for alternative books, etc.
Books etc. to be kept for 6 years
PART 111-PENALTY Penalty
QUEENSLAND
[Reprinted as at 1 August, 19901
[Regulations published Gazette 20 December 1986, pp. 2418-2420.1
Department of Justice Brisbane, 18th December, 1986 IS Excellency the Governor, acting by and with the advice of the Executive Council and in pursuance of the provisions of the Contractors’
Trust Accounts Act 1974-1981, has been pleased to make the following regulations.
PAUL CLAUSON
PART I-PRE
itation. These regulations m as the Contractors’
Trust Accounts egulations 1986.
2. ent. These regulations shall commence on 1 st 1987.
epeaL The Contractors’ Trust Accounts Regulations 1978 are ent. These regulations are arranged as follows:-
Part I-PRELIMINARY (Regs. 1-5);
Part 11-BOOKS, ACCOUNTS AND RECORDS (Regs. 6-12);
Part 111-PENALTY (Reg. 13).
5. ~ n t e ~ ~ ~ e t a t i o ~ ~ In these regulations “the Act” means the Contractors’ Trust Accounts Act 1974-1 981.
2 reg. 6 CONTRACTORS TRUST ACCOUNTS REGULATIONS 1986 re
COUNTS AND RECO
ere he carries on business:- t. (1) A contractor shall keep (91:
(a) books, accounts and records comprising- (i) a Trust Accou
regulation 7;
(ii) a Trust Accoun regulation 8;
(iii) a Trust Accoun
k in accordance with ook in acco~dance with
in accordance with ~ ~ g ~ l a t i Q n ccordance with ~ e ~ u ~ a t i o Or
O Q ~ S , accounts an records in accordamce with r e ~ u ~ a ~ i o ~ s of a cQntractor
11.
(2) Each such receipt shall contain the follo
~a~icu1ars:-
ors’ Trust Accounts Act 1974-1981 Trust Account e Contractor, business name or c
whose behalf the receipt is issu erson by whom yment is made;
nt of the payment received, sh is made in cash or by cheque the name of the drawer; and
nature of the person issuing the receipt.
(3) A trust account rec money referred t sion thereof shall
shall be issued f o ~ h ~ t h u p ~ n the receipt section 8 (1) of the Act and a carbon made OF taken si~ultaneously on the ractor shall not remove from a Trust Account
ffer, or allow any person to remove from a Trust ok, any duplicate of a receipt issued or caused to (5) If a contractor cancels or causes to be cancelled any form of cancelled form to receipt, he shall attach or c
the duplicate thereof in his
reg. 8 CONTRACTORS’ TRUST ACCOUNTS REGULATIONS 1986 reg. 11 3
(6) A contractor may, instead,of keeping and using a Trust Account ook, use a Cash Register or Accounting
of sub-regulations (l), (2), adaptions, extend and apply accordi
(1) A Trust Account Bank s in duplicate shall be used nking any money referred to in section 8 ( I ) of to such money shall be entered in the ook and a carbon impression thereof k may comprise loose 1) ~ a ~ i c u ~ a r s of all moneys referre
by a cont~actor sha ook. Such book shall
against the trust account.
Account Gash
with the bank shall be balanced each month ce as at the last day of each econciliation shall be entered in the Trust Account in bhe followin
at end of month . . . and cash in transit at end
. . . $ of month (specifgr h cheque) . . . . . . $
the Trust Account count Ledger.
per trust account
st A c c o ~ ~ t Ledger shall etc. (1) A contractor 7, 8, 9, and 10.
ove in writing an application received ion if he is of the opinion that the applicant keeps or cause kept books, accounts or records, as the case may be, in another r sufficient for the purposes of the Act.
rar may at any ti e by a notice in writing given at least one mo fore suck notice to take effect and addressed to the last known place of business or residence of the contractor revoke
(3) The
4 reg. 1% ,CONT&$.CTORS’ TRUST ACCOUNTS REGULATIONS 1986 reg. 13
permission given for the purposes of this regulation either wholly or in part.
OQks etc. t0 be t for 6 years. All books, accounts and ating to any mo referred to in section 8 (1) of the Act, or a copy thereof, shall be kept in the possession or under the control of contractor for a period of 6 years after the receipt of such money shall be so kept whether or not the contractor ceases to be a contractor.
PAKT 111-PENALTY
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A person guilty of an offence against these regulations shall be liable to a penalty of four (4) penalty units.BY AUTHORITY
S. R. HAMPSON, GOVERNMENT PRINTER, QUEENSLAND-1989
1033 1 1 (RJu2 14)-10/89
TO THE
G
UN
Act. See The Act.
Arrangement of regulations
Books, accounts and records-
to be kept by contractor . . . . . . .
period of time . . . . , . . . . . . Trust Account Bank Deposit Book re Trust Account Cash Book re . . .
Trust Account Ledger re . , . . .
Trust Account Receipt Book re . . .
Citation. See Short title.
Commencement of regulations . . . . . . .
Contractor-
books, accounts and records to be kept b) oeriod of time . . . . . . . . . . .
A
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c
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, . . . . .
. . . . . . , .
. . . .
. . . . may'apply to Registrar for approval for alternative books, etc. . ,
moneys received by, to be entered into Trust Account Cash Book . . , . . . . . . . , . , , . . . . . . . , . . re Trust Accounts Receipt Book . , . . . . . . . . . . . , . . Contractors' Trust Accounts Regulations 1978-
repeal of . . . . . . . . . . . . . . . .
I
Interpretation. See Meaning of term.
Meaning of term-
the Act . . . , , . . . . . . .
Notice-
revocation of approval for alternative books, etc. . . . . , . . .
reg. 4
6 , . , . . . . ,
12 . , . . . . . . 6 (1) (a) (ii) . . . . 6 (1) (a) (iii) . . . . 6 (1) (a) (iv) . . . .
6 (1) (a) (i) . . . .
2
6 . . . . . . 12 . . . 1 1 ( 1 ) . . . . , .
reg. 3
5 . . . . . . . ,
11 (3). . . . . . . .
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6 INDEX
Offence-
penalty for . . .
Penalty-
for offence against these regulations . . .
Registrar-
re approval for alternative books. etc . . . contractor may apply to . . . notice of revocation of . . . Regulations-
arrangement of . . . commencement of . . . short title of . . . Repeal-
Contractors' Trust Accounts Regulations 1978
Short title of regulations . . .
T
The Act-
meaning ofterm . . .
purpose of use of . . . to be kept by contractor . . . type of, which may be used . . . Trust Account Cash Book-
balancing of, each month . . . re Trust Account Ledger . . . to be kept by contractor . . . use of . . . Trust Account Bank Deposit Book-
Trust Account Ledger-
balancing of, re'Trust Account Cash Book re entries in Trust Account Cash Book to be kept by contractor
to be kept by contractor
. . . . . Trust Accounts Receipt Book . . . . . . . . .
. . . . . . . .
. . . . . . . . . . . .
.
. . . . reg . 13 . . .
. . . . 13 . . .
. . . . 1 1 . . .
. . . . 1 1 ( I ) . . . . . . . 11 (3) . . .
. . . . 4 . . .
. . . . 2 . . .
. . . . 1 . . .
. . . . 3 . . .
. . . . I . . .
5 . . .
. . . . 8 ( I ) . . .
. . . . 6 . . .
. . . . 8 (2) . . .
. . 9 (2) . . .
. . 10 . . .
. . 6 . . .
. . 9 ( I ) . . .
. . .
. . . 10 (2)
. . . 10 (1)
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. . . 7 . . .
. . . . . . . 6 (1) (a) (i)
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BY AUTHORITY
S . R . HAMPSON. GOVERNMENT PRINTER. QUEENSLAND-1 990 10331 1 (1JU214)-7/90
