LEGAL PROFESSION ACT 2007 - SECT 281 ADIs not subject to certain obligations and liabilities

LEGAL PROFESSION ACT 2007 - SECT 281

281 ADIs not subject to certain obligations and liabilities

(1) An ADI at which a trust account is kept by a law practice—

(a) is not under an obligation to control or supervise transactions in relation to the account or to oversee the application of money disbursed from the account; and

(b) does not have, in relation to any liability of the law practice to the ADI, any recourse or right, whether by way of set-off counterclaim, charge or otherwise, against money in the account.

(2) Subsection (1) does not relieve an ADI from any liability to which it is subject apart from this Act.