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Rules of Practice 1994 (S.R. 1994, No. 229)
Requested:  25 May 2017
Consolidated as at:  17 Mar 2006

28. Payments

(1) A firm must ensure that the following details are recorded in the cash book in respect of each payment:

(a) the date the payment was made;

(b) the amount of the payment;

(c) the name of the payee;

(d) clear identification of the trust ledger account to be debited;

(e) the description of the matter;

(f) the purpose for which the payment was made.

(2) Details of payments are to be recorded in the payments part of the cash book –

(a) in the order in which the cheques are issued; and

(b) within 7 days of the issue of the cheque.

(3) A firm, on becoming aware of a direct credit to its trust bank account, must write a receipt for that payment containing the following particulars:

(a) the date of the receipt;

(b) the amount of the payment;

(c) the name of the client in respect of whom the payment is made;

(d) the words "direct credit" or similar;

(e) any other particulars that may assist in identifying the transaction.


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