New South Wales Consolidated Regulations

LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 35

35 Maintenance of general trust account

(1) A general trust account established in a jurisdiction--

(a) must be established with an authorised ADI, and

(b) must include in its name the name of the law practice or the business name under which the law practice engages in legal practice, and the expression "law practice trust account" or "law practice trust a/c".

(2) This rule does not apply to a general trust account established in a participating jurisdiction before the commencement day for that jurisdiction, so long as the account name did not breach any requirement of the legislation of that jurisdiction before that day.