LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 54
Statements regarding receipt or holding of trust money
LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 54
Statements regarding receipt or holding of trust money
54 Statements regarding receipt or holding of trust money
(1) The
designated local regulatory authority may, by written notice, require a law
practice to give the regulatory authority a statement within a specified
period--
(a) specifying whether or not the practice has, during a period
specified by the regulatory authority, received or held trust money, and
(b)
if it has received or held trust money during that period, specifying to which
of the following categories the trust money belongs--
(i) general trust money,
(ii) controlled money,
(iii) transit money,
(iv) money subject to a power,
(v) money of the kind referred to in section 129(2)(d)(i) and (ii) of the
Uniform Law,
(vi) written direction money.
(2) A notice may be given so as
to apply in respect of one or more periods (whether they occur annually or
otherwise) and may be withdrawn or varied by a further notice.
