Australian Capital Territory Numbered Acts

LEGAL PROFESSION ACT 2006 (NO. 25 OF 2006) - SECT 222

    (1)     As soon as practicable after receiving trust money, a law practice must deposit the money in a general trust account of the practice.

    (2)     Subsection (1) does not apply if—

        (a)     the practice has a written direction by an appropriate person to deal with the money otherwise than by depositing it in the account; or

        (b)     the money is controlled money; or

        (c)     the money is transit money; or

        (d)     the money is to be dealt with under a power to receive or disburse money for or on behalf of someone else exercisable jointly and severally with the other person or a nominee of the other person.

    (3)     A law practice that has received money that is the subject of a written direction mentioned in subsection (2) (a) must deal with the money in accordance with the direction—

        (a)     within the period (if any) stated in the direction; or

        (b)     subject to paragraph (a), as soon as practicable after it is received.

    (4)     The law practice must keep a written direction mentioned in subsection (2) (a) for the period prescribed by regulation.

    (5)     Subsection (2) (a) to (d) do not apply to cash.

    (6)     If a law practice that is an Australian legal practitioner who is a sole practitioner, or an incorporated legal practice, contravenes subsection (1), (3) or (4), the practitioner or practice commits an offence.

Maximum penalty: 50 penalty units.

    (7)     If a law practice that is a law firm, or a multidisciplinary partnership, contravenes subsection (1), (3) or (4), each principal of the practice commits an offence.

Maximum penalty: 50 penalty units.

Note     For this part, a reference to a law practice includes the principals of the law practice (see s 218 (Liability of principals of law practices under pt 3.1)).

    (8)     An offence against subsection (6) or (7) is a strict liability offence.

    (9)     For this section, a person is an appropriate person in relation to trust money received by a law practice if the person is legally entitled to give the practice directions about dealings with the money.