New South Wales Consolidated Regulations

LEGAL PROFESSION REGULATION 2005 - REG 106A

106A Receipt of trust money by barrister (section 252 of the Act)-exclusion under section 246 (3) of the Act

Part 3.1 of the Act does not apply to trust money received and held by a barrister if the money is received by the barrister on account of legal costs for legal services in advance of the provision by the barrister of the legal services, in the following circumstances:

(a) the barrister is practising as a sole practitioner and the money is received in connection with instructions accepted by the barrister directly from a person who is not a solicitor,

(b) the money is deposited, within a reasonable time, after the barrister receives the money, in an account maintained with an ADI in connection with the barrister’s law practice,

(c) the money remains deposited in that or another account maintained with an ADI in connection with the barrister’s law practice until:

(i) a bill is given to the client, or

(ii) the money is refunded to the client, or

(iii) the money is paid to a solicitor who is later engaged by the client in the matter.