Document ID: chunk:federal_register_of_legislation:F2022C00379:body:0:p4
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the date the record is made.
(5) The written record required by subrule (4) must include the time, timezone and date at which the reconciliation to which the record relates was performed.

2.2.2 Monthly reconciliation of client money
(1) A financial services licensee must perform an accurate reconciliation, as at the licensee's Nominated Reconciliation Time on the last business day of each calendar month, of:
(a)        the amount of Reportable Client Money held in a Client Money Account for each person; and
(b)       the amount recorded in the licensee's records for each person, as required by subrule 2.1.1(1).
(2) A financial services licensee must perform an accurate reconciliation, as at the licensee's Nominated Reconciliation Time on the last business day of each calendar month, of:
(a)        the total amount of Reportable Client Money held in a Client Money Account for all persons; and
(b)       the amount recorded in the licensee's records for all persons, as required by subrule 2.1.1(2).
(3) The reconciliations required by this Rule must be completed and a written record of them given to ASIC within 10 business days of the end of the calendar month to which the reconciliation relates.
(4) The reconciliations referred to in subrules (1) and (2) must include a statement signed by a director, or a person authorised by a director, stating that the signatory believes, and has no reason not to believe, that the reconciliation is accurate in all respects.
(5) The statement required by subrule (4) must include the date on which the statement was signed.

2.2.3 Nominated Reconciliation Time
(1) A financial services licensee must determine, in writing, on or before the day it is first required to comply with Part 2.2 of the Rules, the time of day and the timezone (Nominated Reconciliation Time) at which it will perform the reconciliations required by Part 2.2 of the Rules.
(2) A financial services licensee may vary its Nominated Reconciliation Time by:
(a)        determining, in writing, before the change takes effect, another time of day and, or, another timezone at which it will perform the reconciliations required by Part 2.2 of the Rules; and
(b)       notifying ASIC, in writing, of the changed time, before the change takes effect.

Chapter 3: Reporting

Part 3.1 Reporting and annual declarations

3.1.1 Reporting requirements
(1) A financial services licensee must give ASIC a written report that complies with subrule (2) if:
(a)        the licensee fails to perform a reconciliation as required by these Rules;
(b)       a reconciliation performed under subrule 2.2.1(1) (the reconciliation of individual amounts) identifies a difference between the amount held in a Client Money Account for a person and the amount recorded in the licensee's records kept under subrule 2.1.1(1); or