Application of Schedule to law practices and trust money
4 Application of Schedule to law practices and trust money
This Schedule applies to the following law practices in respect of trust money received by them in this jurisdiction:
a law practice that has an office in this jurisdiction, whether or not the practice has an office in another jurisdiction;
a law practice that does not have an office in any jurisdiction at all. NoteIt is intended that a law practice that receives trust money in this jurisdiction, that does not have an office in this jurisdiction, but that has an office in another jurisdiction, must deal with the money in accordance with the corresponding law of the other jurisdiction.
This Schedule applies to the following law practices in respect of trust money received by them in another jurisdiction:
a law practice that has an office in this jurisdiction and in no other jurisdiction;
a law practice that has an office in this jurisdiction and in 1 or more other jurisdictions but not in the jurisdiction in which the trust money was received, unless the money is dealt with in accordance with the corresponding law of another jurisdiction.
However, this Schedule does not apply to—
prescribed law practices or classes of law practices;
or
prescribed law practices, or classes of law practices, in prescribed circumstances; or
prescribed kinds of trust money; or
prescribed kinds of trust money in prescribed circumstances.
A reference in this clause to having an office in a jurisdiction is a reference to having, or engaging in legal practice from, an office or business address in the jurisdiction.
NoteThe requirements of this Schedule will not apply in relation to a law practice that is a legal practitioner practising solely in the manner of a barrister because a legal practitioner may not, in the course of practising as a barrister, receive trust money—see clause 10.
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