Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Attorneys Act, 1979 (Act No. 53 of 1979)Rules for the Attorneys' ProfessionPart V : Accounting RulesInvestment Practice RulesPooling of investments |
| 36.9 | No firm may mix deposits in a pooled account or make other money market investments in any manner otherwise than by accepting funds as agent for each participating client and placing such funds with a bank in a savings account or on the money market on behalf of the client. The firm shall obtain from the bank an acknowledgement of receipt of each deposit or money market investment and such written receipts shall be retained by the firm as part of its accounting records. |
| 36.10 | All monies received by a firm for investment with a bank, shall be paid to such bank as soon as reasonably possible after receipt by the firm, having regard to matters such as whether a payment by cheque has been cleared with the issuing bank. |
