New South Wales Consolidated Acts
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LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 151
Disclosure of accounts used to hold money
151 Disclosure of accounts used to hold money
(1) A law practice must, in accordance with the requirements referred to in
subsection (3), notify the designated local regulatory authority of the
details required by the Uniform Rules of each account maintained at an ADI in
which the law practice or any legal practitioner associate of the law practice
holds money entrusted to the law practice or legal practitioner associate.
Civil penalty: 50 penalty units.
(2) Subsection (1) applies whether or not
the money is trust money.
(3) The details must be notified to the designated
local regulatory authority at the times and in the manner that the designated
local regulatory authority requires.
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