(b) if the
practice is authorised by the law society to withdraw controlled money from a
controlled money account by electronic funds transfer—electronic funds
transfer.
Penalty—
Maximum penalty—50 penalty units.
(2) Without
limiting subsection (1) , the following are specifically prohibited by the
subsection—
(a) cash withdrawals;
(b) ATM withdrawals or transfers;
(c)
telephone banking withdrawals or transfers;
(d) unless the law practice is
authorised by the law society to withdraw controlled money from a
controlled money account by electronic funds transfer—withdrawals by
electronic funds transfer.
(3) A regulation may make provision in relation to
withdrawals by cheque or electronic funds transfer, including, for example,
the matters the law society must have regard to in deciding to authorise a law
practice to withdraw controlled money from a controlled money account by
electronic funds transfer.
(4) This section has effect despite anything to
the contrary in a direction given to the law practice concerned even if the
direction is given by a person who is otherwise legally entitled to give the
law practice directions in relation to dealings with the controlled money.
