This legislation has been repealed.
(1) A law practice must:(a) hold trust money deposited in a general trust account of the practice exclusively for the person on whose behalf it is received, and(b) disburse the trust money only in accordance with a direction given by the person.Maximum penalty: 50 penalty units.
(2) Subsection (1) applies subject to an order of a court of competent jurisdiction or as authorised by law.
(3) The law practice must account for the trust money as required by the regulations.Maximum penalty: 50 penalty units.