C-73.2, r. 4 - Regulation respecting records, books and registers, trust accounting and inspection of brokers and agencies

Section 5 Disposition versions

2012-09-01

5. The accounting register showing the sums held in trust must be integrated into an accounting system kept according to generally accepted accounting principles. The register contains, in chronological order,

(1)  in the case of a sum received in trust and deposited into the general trust account:

(a)  the number attributed to the transaction by the licence holder, where applicable;

(b)  the sum received;

(c)  the number of the receipt issued to the depositor for the sum received;

(d)  the date of deposit with the financial institution;

(e)  identification of the depositor; and

(f)  the balance of the general trust account;

(2)  in the case of a sum received in trust and withdrawn from the general trust account:

(a)  the number attributed to the transaction by the licence holder, where applicable;

(b)  the sum withdrawn;

(c)  the number attributed to the cheque, bill of exchange or transfer slip used for the withdrawal;

(d)  the name of the recipient of the cheque, bill of exchange or transfer slip used for the withdrawal;

(e)  the date appearing on the cheque, bill of exchange or transfer slip used for the withdrawal; and

(f)  the balance of the general trust account;

(3)  in the case of a sum received in trust and deposited into a special trust account:

(a)  the information provided for in paragraph 1;

(b)  identification of the special account; and

(c)  the name of the financial institution with which the account was opened;

(4)  in the case of a sum received in trust and withdrawn from a special trust account:

(a)  the information provided for in paragraph 2;

(b)  identification of the special account; and

(c)  the name of the financial institution with which the account was opened.

O.C. 296-2010, s. 5.