LEGAL PROFESSION ACT 2007 - SECT 243 Discharge by legal practitioner associate of obligations of law practice

LEGAL PROFESSION ACT 2007 - SECT 243

243 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) an action of a kind prescribed under a regulation.

(2) If the legal practitioner associate keeps a trust account in relation to trust money received by the law practice, this part and a regulation made under this part apply to the associate in the same way as they apply to a law practice.

(3) Subsection (1) does not apply to the extent that the associate is prevented under a regulation from taking any action mentioned in that subsection.