sec.254Trust money subject to specific powers

### sec.254 Trust money subject to specific powers Subject to section 255 , a law practice must ensure that trust money that is the subject of a power given to the practice or an associate of the practice is dealt with by the practice or associate only under the power relating to the money. Maximum penalty—50 penalty units. The law practice must account for the money in the way prescribed under a regulation. Maximum penalty—50 penalty units. (sec.254-ssec.1) Subject to section 255 , a law practice must ensure that trust money that is the subject of a power given to the practice or an associate of the practice is dealt with by the practice or associate only under the power relating to the money. Maximum penalty—50 penalty units. (sec.254-ssec.2) The law practice must account for the money in the way prescribed under a regulation. Maximum penalty—50 penalty units.