New South Wales Consolidated Acts

LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 137

137 Certain trust money to be deposited in general trust account

A law practice must deposit trust money (other than cash) into the law practice's general trust account as soon as practicable after receiving it unless--

(a) the law practice has a written direction by a person legally entitled to provide it to deal with the money otherwise than by depositing it in the account; or

(b) the money is controlled money or transit money; or

(c) the money is the subject of a power given to the practice or an associate of the practice to deal with the money for or on behalf of another person.

Civil penalty: 100 penalty units.

Note: Section 143 deals with trust money received in the form of cash.