LEGAL PROFESSION ACT 2006 - SECT 217 Discharge by legal practitioner associate of obligations of law practice
LEGAL PROFESSION ACT 2006 - SECT 217
Discharge by legal practitioner associate of obligations of law practice(1) The following actions, if taken by a legal practitioner associate of a law practice on behalf of the practice in relation to trust money received by the practice, discharge the corresponding obligations of the practice in relation to the money:
(a) the establishment of a trust account;
(b) the keeping of a trust account;
(c) the payment of trust money into and out of a trust account and other dealings with trust money;
(d) the keeping of trust records;
(e) engaging an external examiner to examine trust records;
(f) the payment of an amount into an ADI account in accordance with section 253 (Statutory deposits);
(g) an action of a kind prescribed by regulation.
(2) If the legal practitioner associate keeps a trust account in relation to trust money received by the law practice, this part applies to the associate in the same way as it applies to a law practice.
Note A reference to an Act (or provision) includes a reference to the statutory instruments made or in force under the Act (or provision), including any regulation (see Legislation Act
, s 104).
(3) Subsection (1) does not apply to the extent that the associate is prevented by a regulation from taking any action mentioned in that subsection.