Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A law practice that has received transit money must pay or deliver the money as required by the instructions relating to the money:
(a) within the period (if any) specified in the instructions; or
(b) subject to paragraph (a), as soon as practicable after it is received.
(2) The law practice must account for the money as required by the regulations.
(3) Subsections (1) and (2) do not apply to trust money if section 251 applies to the money.
(4) If a law practice that is an Australian legal practitioner who is a sole practitioner, or an incorporated legal practice, contravenes subsection (1) or (2), the practitioner or practice is guilty of an offence.
Maximum penalty: 500 penalty units.
(5) If a law practice that is a law firm or multi-disciplinary partnership contravenes subsection (1) or (2), each principal of the practice is guilty of an offence.
Maximum penalty: 500 penalty units.
(6) An offence against subsection (4) or (5) is an offence of strict liability.