Trust money means money held by a budget sector agency on trust, other than public money.
(Finance Management Act 2004 (s(2))
Trust money is to be accounted for separately from public money and other money within the meaning of this Act.
Trust money is to be kept in a separate bank account pending its withdrawal (including withdrawal for use or investment).
Subject to section 55 (2) and to the objects of the relevant trust, trust money is to be accounted for, banked, invested, reported on and otherwise controlled in accordance with the Finance Instructions.
(Financial Management Act 2004 s(25))
(Financial Management Act 2004 s(55))
(Financial Instructions 2005 s(69))
(Proforma Finance Manual)