(1) The Board may
enter into arrangements ("trust money protocols” ) with corresponding
authorities about any or all of the following —
(a)
determining the jurisdiction where a law practice receives trust money;
(b)
sharing information about whether, and (if so) how, trust money is being dealt
with under this Act or a corresponding law.
(2) For the purposes
of this Act, to the extent that a trust money protocol is relevant, the
jurisdiction where a law practice receives trust money is to be determined in
accordance with the protocols.
(3) The Board may
enter into arrangements that amend, revoke or replace a trust money protocol.
(4) A trust money
protocol does not have effect in this jurisdiction unless it is embodied or
identified in the regulations.