(1) Subject to
section 222, a law practice that has received transit money must pay or
deliver the money as required by the instructions relating to the
money —
(a)
within the period (if any) specified in the instructions; or
(b)
subject to paragraph (a), as soon as practicable after it is received.
Penalty: a fine of $10 000.
(2) The law practice
must account for the money as required by the regulations.
Penalty: a fine of $5 000.