External examiner to give other reports
275 External examiner to give other reports
This section applies if, in carrying out an external examination of a law practice’s trust records, an external examiner becomes aware of a matter that—
is reasonably likely—
to adversely affect the financial position of the law practice to a material extent; or
to constitute a breach of this part by the law practice; or
is otherwise an irregularity in relation to the trust records or trust accounts of the law practice of which the law society ought reasonably to be made aware.
The external examiner must, within 7 days after becoming aware of the matter, give the law society a written report on the matter.
Maximum penalty—100 penalty units.
This Act’s bill:Explanatory memorandum
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