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Rules of Practice 1994 (S.R. 1994, No. 229)
Requested:  27 Apr 2017
Consolidated as at:  17 Mar 2006

45. Trust ledger account maintained on a computer system

A firm must ensure that in respect of any trust ledger account maintained on a computer system –

(a) a programme is not able to accept the entry of a transaction resulting in a debit balance to an account unless a contemporaneous record of that transaction and of all subsequent transactions by which the debit balance is increased, reduced or remedied is made in a manner which produces in a permanent and legible form a separate chronological report of all the transactions that may be made; and

(b) a programme is not able to delete an account unless –

(i) the balance of the account is zero; and

(ii) if deleted, the account is retained in visible form.


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