210Definitions—pt 3.1

210 Definitions—pt 3.1 controlled money means trust money received or held by a law practice for which the practice has a written direction to deposit the money in an account (other than a general trust account) over which the practice has or will have exclusive control. Note See s 224 (6) (Controlled money), which prevents pooling of controlled deposit record includes a deposit slip or duplicate deposit slip. transit money means money received by a law practice subject to instructions to pay or deliver it to a third party, other than an associate of the practice. Note Trust money is defined in the dictionary. (2) In this part: approved ADI means an ADI approved under section 250 (Approval of ADIs for pt 3.1) by the law society council. controlled money account means an account kept by a law practice with an ADI for the holding of controlled money received by the external examination means an external examination under subdivision 3.1.3.2 of a law practice’s trust records. external examiner means a person holding an appointment as an external examiner under subdivision 3.1.3.2. general trust account means an account kept by a law practice with an approved ADI for the holding of trust money received by the practice, other than controlled money or transit money. investigation means an investigation under subdivision 3.1.3.1 of the affairs of a law practice. investigator means a person holding an appointment as an investigator under subdivision 3.1.3.1. law practice—see section 218 (2). permanent form, in relation to a trust record, means printed (or, on request, capable of being printed) in English on paper or other material. trust account means an account kept by a law practice with an approved ADI to hold trust money. trust records includes the following documents: (a) receipts; (b) cheque butts or cheque requisitions; (c) records of authorities to withdraw by electronic funds transfer; (d) deposit records; (e) trust account ADI statements; (f) trust account receipts and payments cash books; (g) trust ledger accounts; (h) records of monthly trial balances; (i) records of monthly reconciliations; (j) trust transfer journals; (k) statements of account as required to be provided under a regulation; (l) registers required to be kept under a regulation; (m) monthly statements required to be kept under a regulation; (n) files relating to trust transactions or bills of costs, or both; (o) written directions, authorities or other documents required to be kept under this Act; (p) supporting information required to be kept under a regulation in relation to powers to deal with trust money. Note 1 This Act is defined in the dictionary. Note 2 Trust records includes a reference to the affairs of a law practice that may be examined under s 245 (Examination of affairs in relation to examination of trust records etc)—see s 245 (3). (3) A reference in this part to a law practice’s trust account or trust records includes a reference to an associate’s trust account or trust records. (4) A reference in this part to a power given to a law practice or an associate of the practice to deal with money for or on behalf of someone else is a reference to a power given to the practice or associate that is exercisable by— (a) the practice alone; or (b) an associate of the practice alone (otherwise than in a private and personal capacity); or (c) the practice or an associate of the practice jointly or severally, or jointly and severally with either of the following: (i) 1 or more associates of the practice; (ii) the person, or 1 or more nominees of the person, for whom or on whose behalf the money may or is to be dealt with under the power.