Keeping trust records

Current

(1)

A law practice must keep in permanent form trust records in relation to trust money received by the practice.

Maximum penalty—100 penalty units.

(2)

The law practice must keep the trust records—

(a)

in the way prescribed under a regulation; and

(b)

in a way that at all times discloses the true position in relation to trust money received for any person; and

(c)

in a way that enables the trust records to be conveniently and properly investigated or externally examined; and

(d)

for the period prescribed under a regulation.

Maximum penalty—100 penalty units.

Regulations

This provision refers to the regulations (a regulation). Made under this Act:

1 more instrument made under this Act are listed on the Act’s overview.

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