Obligation to deposit subject to availability of trust funds
73 Obligation to deposit subject to availability of trust funds
If—
a law practice has not, before the end of a period within which the law practice is required to make a deposit under this division, made the deposit; and
on the last day of the period, the money standing to the credit of the law practice’s general trust account is not sufficient to enable the deposit to be made;
the period is extended until there is standing to the credit of the general trust account of the law practice on a subsequent quarter day in the trust accounting year in which the end of that period happens an amount sufficient to enable the deposit to be made.
In this section:
quarter day means 30 September, 31 December, 31 March or 30 June.
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