Determinations about status of money
3 Determinations about status of money
This clause applies to money received by a law practice if the
Society considers that there is doubt or a dispute as to whether the money is trust money.
The Society may determine that the money is or is not trust money.
The Society may revoke or modify a determination under this clause.
While a determination under this clause is in force that money is trust money, the money is taken to be trust money for the purposes of this
Act.
While a determination under this clause is in force that money is not trust money, the money is taken not to be trust money for the purposes of this Act.
This clause has effect subject to a decision of a court made in relation to the money concerned.
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