Western Australian Current Regulations Western Australian Current Regulations (1) Despite any
directions to the contrary, a law practice must not withdraw controlled money
from a controlled money account otherwise than by cheque or electronic funds
transfer.
(2) A withdrawal of
money from a controlled money account of a law practice must be effected by,
under the direction of or with the authority of —
(a) an
authorised principal of the law practice, or
(b) if
such a principal is not available —
(i)
a legal practitioner associate authorised by the law
practice to effect, direct or give authority for this purpose, or
(ii)
when an authorised practitioner referred to in
subparagraph (i) is not available — an Australian legal
practitioner who holds an Australian practising certificate authorising the
receipt of trust money and who is authorised by the law practice to effect,
direct or give authority for this purpose, or
(iii)
when the authorised practitioners referred to in
subparagraph (i) or (ii) are both not available—two or more
associates of the law practice jointly who are authorised by the law practice
to effect, direct or give authority for this purpose.
(3) A written record
of the required particulars must be kept of each withdrawal.
(4) If, at the time
the withdrawal is made, the required particulars are recorded by a
computerised accounting system, a written record must be kept that is
sufficient to enable the accuracy of the particulars recorded by the
computerised accounting system to be verified.
(5) For the purposes
of this rule, the required particulars are as follows —
(a) the
date and number of the transaction,
(b) the
amount withdrawn,
(c) in
the case of a withdrawal by cheque, the name of the person to whom payment is
to be made or, if the cheque is made payable to an ADI, the name or BSB number
of the ADI and the name of the person receiving the benefit of the payment,
(d) in
the case of a withdrawal by electronic funds transfer, the name and number of
the account to which the amount was transferred and the relevant BSB number,
(e)
details clearly identifying the name of the person on whose behalf the payment
was made and the matter reference,
(f)
particulars sufficient to identify the reason for which the payment was made,
(g) the
person or persons effecting, directing or authorising the withdrawal.
(6) The particulars
are to be recorded in the order in which the withdrawals are made and are to
be recorded separately for each controlled money account.