(1) A law practice may
do any of the following, in relation to trust money held in a general trust
account or controlled money account of the practice for a person —
(a)
exercise a lien, including a general retaining lien, for the amount of legal
costs reasonably due and owing by the person to the practice;
(b)
withdraw money for payment to the practice’s account for legal costs
owing to the practice if the relevant procedures or requirements prescribed
under this Act are complied with;
(c)
after deducting any legal costs properly owing to the practice, deal with the
balance as unclaimed money under the Unclaimed Money Act 1990 .
(2)
Subsection (1) applies despite any other provision of this Part (other
than subsection (3)) but has effect subject to Part 10.
(3)
Subsection (1) does not apply in relation to trust money that is held by
the person under another trust when it is paid into the general trust account
or controlled money account.