LEGAL PROFESSION ACT 2007 - SECT 241 Protocols for deciding where trust money is received

LEGAL PROFESSION ACT 2007 - SECT 241

241 Protocols for deciding where trust money is received

(1) The law society may enter into arrangements (
"trust money protocols" ) with corresponding authorities about any or all of the following—

(a) deciding the jurisdiction where a law practice receives trust money;

(b) sharing information about whether, and if so how, trust money is being dealt with under this Act or a corresponding law.

(2) For this Act, to the extent that a trust money protocol is relevant, the jurisdiction where a law practice receives trust money must be decided under the relevant protocol.

(3) The law society may enter into arrangements that amend, revoke or replace a trust money protocol.

(4) A trust money protocol, or an amendment, revocation or replacement of a trust money protocol, has effect in this jurisdiction only to the extent it is approved under a regulation.