(1) Subject to section 255, a law practice that has received transit money
must pay or deliver the money as required by the instructions relating to the
money—
(a) within the period, if any, stated in the instructions; or
(b)
subject to paragraph (a) , as soon as practicable after it is received.
Penalty—
Maximum penalty—50 penalty units.
(2) The law practice
must account for the money in the way prescribed under a regulation.