Attorneys Act, 1979 (Act No. 53 of 1979)Rules for the Attorneys' ProfessionPart V : Accounting RulesTrust account investments in terms of section 78(2A) |
| 35.16 | A member, who invests funds on behalf of any person shall, in addition to all other requirements applicable to the holding or investment of trust money: |
| 35.16.1 | not invest such funds other than in a trust savings or other interest-bearing account with a bank; |
| 35.16.2 | obtain that person's written confirmation of the investment as soon as is reasonably possible, or notify him forthwith thereof in writing; and |
| 35.16.3 | forthwith cause the relevant trust savings or other interest-bearing account to be endorsed in terms of section 78(2A) of the Act. |
| 35.17 | A member shall not, in connection with any mandate which the member has accepted to invest trust funds, agree or arrange to receive from a bank any commission, fee or other reward, without having disclosed such commission, fee or reward to the client in writing. |