Western Australian Numbered Acts Western Australian Numbered Acts (1) An ADI at which a
trust account is maintained must report any deficiency in the account to the
Board as soon as practicable after becoming aware of the deficiency.
(2) An ADI at which a
trust account is maintained must report a suspected offence in relation to the
trust account to the Board as soon as practicable after forming the suspicion.
(3) An ADI must
furnish to the Board reports about trust accounts in accordance with the
regulations.
(4) An ADI at which a
trust account is maintained must without charge —
(a)
produce for inspection or copying by an investigator or external examiner any
records relating to the trust account or trust money deposited in the trust
account; and
(b)
provide the investigator or external examiner with full details of any
transactions relating to the trust account or trust money,
on demand by the
investigator or external examiner and on production to the ADI of evidence of
the appointment of the investigator or the external examiner in relation to
the law practice concerned.
Penalty: a fine of $5 000.
(5)
Subsections (1) to (4) apply despite any legislation or duty of
confidence to the contrary.
(6) An ADI or an
officer or employee of an ADI is not liable to any action for any loss or
damage suffered by another person as a result of —
(a)
reporting a deficiency in accordance with subsection (1); or
(b)
making or furnishing a report in accordance with subsection (2)
or (3); or
(c)
producing records or providing details in accordance with subsection (4).