LEGAL PROFESSION ACT 2007 - SECT 295 Disclosure of accounts used to hold money entrusted to legal practitioners

LEGAL PROFESSION ACT 2007 - SECT 295

295 Disclosure of accounts used to hold money entrusted to legal practitioners

(1) A law practice must notify the law society of each account kept at an ADI in which the law practice or a legal practitioner associate of the law practice holds money entrusted to the law practice or legal practitioner associate.

Penalty—

Maximum penalty—50 penalty units.

(2) Subsection (1) applies to a law practice whether or not the money is trust money and whether or not section 238 or 239 applies to the money.

(3) The law society must notify the chief executive about the matters the law society is given notice of by law practices under subsection (1) .

(4) A notification under this section must be given in the way, and include the details, prescribed by regulation.