sec.250Withdrawing trust money from general trust account

### sec.250 Withdrawing trust money from general trust account A law practice must not withdraw trust money from a general trust account otherwise than by— cheque; or if the practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—electronic funds transfer. Maximum penalty—50 penalty units. Without limiting subsection (1) , the following are specifically prohibited by the subsection— cash withdrawals; ATM withdrawals or transfers; telephone banking withdrawals or transfers; unless the law practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—withdrawals by electronic funds transfer. A regulation may make provision in relation to withdrawals by cheque or electronic funds transfer, including, for example, the matters the law society must have regard to in deciding to authorise a law practice to withdraw trust money from a general trust account by electronic funds transfer. This section has effect despite anything to the contrary in a direction given to the law practice concerned, even if the direction is given by a person who is otherwise legally entitled to give the law practice directions in relation to dealings with the trust money. (sec.250-ssec.1) A law practice must not withdraw trust money from a general trust account otherwise than by— cheque; or if the practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—electronic funds transfer. Maximum penalty—50 penalty units. (sec.250-ssec.2) Without limiting subsection (1) , the following are specifically prohibited by the subsection— cash withdrawals; ATM withdrawals or transfers; telephone banking withdrawals or transfers; unless the law practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—withdrawals by electronic funds transfer. (sec.250-ssec.3) A regulation may make provision in relation to withdrawals by cheque or electronic funds transfer, including, for example, the matters the law society must have regard to in deciding to authorise a law practice to withdraw trust money from a general trust account by electronic funds transfer. (sec.250-ssec.4) This section has effect despite anything to the contrary in a direction given to the law practice concerned, even if the direction is given by a person who is otherwise legally entitled to give the law practice directions in relation to dealings with the trust money. - (a) cheque; or - (b) if the practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—electronic funds transfer. - (a) cash withdrawals; - (b) ATM withdrawals or transfers; - (c) telephone banking withdrawals or transfers; - (d) unless the law practice is authorised by the law society to withdraw trust money from a general trust account by electronic funds transfer—withdrawals by electronic funds transfer.