Australian Capital Territory Numbered Acts

LEGAL PROFESSION ACT 2006 (NO. 25 OF 2006) - SECT 605

    (1)     In this section:

"existing trust account provisions" means the provisions of the repealed Act, part 11 (Trust moneys and controlled moneys) in force immediately before the commencement day, other than the following provisions:

        (a)     division 11.5 (Audit);

        (b)     division 11.6 (Examination of solicitors' records);

        (c)     division 11.7 (Investigation of affairs of solicitors).

    (2)     For the period beginning on the commencement day and ending on 31 March 2007—

        (a)     the provisions of part 3.1 (Trust money and trust accounts) do not apply to law practices; and

        (b)     the existing trust account provisions apply to law practices as if—

              (i)     those provisions were provisions of this Act; and

              (ii)     all necessary changes, and any changes prescribed by regulation, were made to apply those provisions as provisions of this Act.

    (3)     This section expires on 1 April 2007.