Queensland Numbered Acts Queensland Numbered Acts(1) If money entrusted to a law practice is or becomes non-trust money, the practice must notify the person who entrusted the money to the practice that--
(a) the money is not treated as trust money under this Act and is not subject to any supervision, investigation or audit requirements of this Act; and
(b) a claim against the fidelity fund can not be made in relation to the money.
Maximum penalty--50 penalty units.
(2) The notification must be in writing and given to the person--
(a) if the money is non-trust money when it is entrusted to the law practice--when the money is entrusted to the practice; or
(b) if the money was trust money when it was entrusted to the practice but becomes non-trust money because of a decision under section 239--as soon as practicable after the decision is made.
(3) The notification must be given in the way, and contain the information, prescribed under a regulation, if any, for this section.
(4) In this section--
non-trust money means money that is not trust money under this Act because of section 238 or because of a decision under section 239.