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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.