New South Wales Consolidated Acts

LEGAL PROFESSION ACT 2004 - SECT 258

258 Trust money subject to specific powers

(1) Subject to section 258A, a law practice must ensure that trust money that is the subject of a power given to the practice or an associate of the practice is dealt with by the practice or associate only in accordance with the power relating to the money.

Maximum penalty: 50 penalty units.

(2) The law practice must account for the money in the way prescribed by the regulations.

Maximum penalty: 50 penalty units.