Queensland Numbered Acts Queensland Numbered Acts(1) Subject to section 255, as soon as practicable after receiving trust money, a law practice must deposit the money in a general trust account of the practice unless--
(a) the practice has a written direction by an appropriate person to deal with it otherwise than by depositing it in the account; or
(b) the money is controlled money; or
(c) the money is transit money; or
(d) the money is the subject of a power given to the practice or an associate of the practice to deal with the money for or on behalf of another person.
Maximum penalty--100 penalty units.
(2) Subject to section 255, a law practice that has received money that is the subject of a written direction mentioned in subsection (1)(a) must deal with the money in accordance with the direction--
(a) within the period, if any, stated in the direction; or
(b) subject to paragraph (a), as soon as practicable after it is received.
Maximum penalty--100 penalty units.
(3) The law practice must keep a written direction mentioned in subsection (1)(a) for the period prescribed under a regulation.
Maximum penalty--100 penalty units.
(4) A person is an appropriate person for this section if the person is legally entitled to give the law practice directions in relation to dealings with the trust money.