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LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 142
Trust money subject to a written direction
142 Trust money subject to a written direction
(1) A law practice that receives a written direction to deal with trust money
(other than cash) in a particular way must comply with that direction within
the period specified in the direction, or otherwise, as soon as practicable
after it is received. Civil penalty: 50 penalty units.
(2) The law practice
must keep the written direction for 7 years after the matter has been
finalised. Civil penalty: 50 penalty units.
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