8
In forceLiability of principals of law practice
Schedule 2Trust money and trust accounts
Part 1Preliminary
8 Liability of principals of law practice
(1)
A provision of this Schedule or the regulations made for the purposes of this Schedule expressed as imposing an obligation on a law practice imposes the same obligation on the principals of the law practice jointly and severally, but discharge of the practice's obligation also discharges the corresponding obligation imposed on the principals.
(2)
References in this Schedule and the regulations made for the purposes of this Schedule to a law practice include references to the principals of the law practice.
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