Deficiency in trust account
259 Deficiency in trust account
An Australian legal practitioner must not, without reasonable excuse, cause—
a deficiency in any trust account or trust ledger account; or
a failure to pay or deliver any trust money.
Maximum penalty—200 penalty units.
A reference in subsection (1) to an account includes a reference to an account of the practitioner or of the law practice of which the practitioner is an associate.
In this section—
cause includes be responsible for.
deficiency, in a trust account or trust ledger account, includes the non-inclusion or exclusion of the whole or any part of an amount that is required to be included in the account.
This Act’s bill:Explanatory memorandum
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