New South Wales Consolidated Regulations

LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 97

97 Appointment of supervisor of trust money

(1) The instrument of appointment under section 329 of the Uniform Law of a supervisor of trust money of a law practice must--

(a) identify the law practice and the supervisor of trust money of the law practice, and

(b) indicate that the external intervention is by way of appointment of a supervisor of trust money of the law practice, and

(c) specify the term of the appointment, and

(d) specify any conditions imposed by the designated local regulatory authority when the appointment is made, and

(e) specify any fees payable by way of remuneration to the supervisor of trust money of the law practice specifically for carrying out the supervisor's duties in relation to the external intervention, and

Note : Paragraph (e) is intended to exclude remuneration payable generally, eg as an employee of the designated local regulatory authority.

(f) provide for the legal costs and the expenses that may be incurred by the supervisor of trust money of the law practice in relation to the external intervention.

(2) The instrument of appointment may specify any reporting requirements to be observed by the supervisor of trust money of a law practice.