Queensland Consolidated Acts

LEGAL PROFESSION ACT 2007 - SECT 250

250 Withdrawing trust money from general trust account

(1) A law practice must not withdraw trust money from a general trust account otherwise than by—

(a) cheque; or

(b) if the practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—electronic funds transfer.

Penalty—

Maximum penalty—50 penalty units.

(2) Without limiting subsection (1) , the following are specifically prohibited by the subsection—

(a) cash withdrawals;

(b) ATM withdrawals or transfers;

(c) telephone banking withdrawals or transfers;

(d) unless the law practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—withdrawals by electronic funds transfer.

(3) A regulation may make provision in relation to withdrawals by cheque or electronic funds transfer, including, for example, the matters the law society must have regard to in deciding to authorise a law practice to withdraw trust money from a general trust account by electronic funds transfer.

(4) This section has effect despite anything to the contrary in a direction given to the law practice concerned, even if the direction is given by a person who is otherwise legally entitled to give the law practice directions in relation to dealings with the trust money.