sec.298Regulation-making power relating to trust money and trust accounts

### sec.298 Regulation-making power relating to trust money and trust accounts The Governor in Council may make regulations about a matter to which this part applies. A regulation may provide for the following— the establishment, keeping and closure of general trust accounts and controlled money accounts; the manner of receiving, depositing, withdrawing, making records about and otherwise dealing with and accounting for trust money; without limiting paragraph (a) or (b) — the keeping and reconciliation of trust records; and the establishment and keeping of trust ledger accounts; and the establishment and keeping of records about controlled money and transit money; and the establishment and keeping of registers of powers and estates in relation to trust money; and the recording of information about the investment of trust money; and the giving of statements regarding trust money; the notification to the law society of information relating directly or indirectly to matters to which this part relates, including information about— trust accounts, trust money and trust records; and the proposed or actual termination of a law practice that holds trust money; and the proposed or actual termination of engaging in legal practice in this jurisdiction by a law practice that holds trust money; and the proposed or actual restructuring of the business of a law practice so that it no longer holds or no longer will hold trust money; the carrying out of unannounced examinations of a law practice’s trust records by an external examiner; the creation and exercise of liens over trust money; exemptions, or the giving of exemptions, from all or any stated requirements of this part. (sec.298-ssec.1) The Governor in Council may make regulations about a matter to which this part applies. (sec.298-ssec.2) A regulation may provide for the following— the establishment, keeping and closure of general trust accounts and controlled money accounts; the manner of receiving, depositing, withdrawing, making records about and otherwise dealing with and accounting for trust money; without limiting paragraph (a) or (b) — the keeping and reconciliation of trust records; and the establishment and keeping of trust ledger accounts; and the establishment and keeping of records about controlled money and transit money; and the establishment and keeping of registers of powers and estates in relation to trust money; and the recording of information about the investment of trust money; and the giving of statements regarding trust money; the notification to the law society of information relating directly or indirectly to matters to which this part relates, including information about— trust accounts, trust money and trust records; and the proposed or actual termination of a law practice that holds trust money; and the proposed or actual termination of engaging in legal practice in this jurisdiction by a law practice that holds trust money; and the proposed or actual restructuring of the business of a law practice so that it no longer holds or no longer will hold trust money; the carrying out of unannounced examinations of a law practice’s trust records by an external examiner; the creation and exercise of liens over trust money; exemptions, or the giving of exemptions, from all or any stated requirements of this part. - (a) the establishment, keeping and closure of general trust accounts and controlled money accounts; - (b) the manner of receiving, depositing, withdrawing, making records about and otherwise dealing with and accounting for trust money; - (c) without limiting paragraph (a) or (b) — (i) the keeping and reconciliation of trust records; and (ii) the establishment and keeping of trust ledger accounts; and (iii) the establishment and keeping of records about controlled money and transit money; and (iv) the establishment and keeping of registers of powers and estates in relation to trust money; and (v) the recording of information about the investment of trust money; and (vi) the giving of statements regarding trust money; - (i) the keeping and reconciliation of trust records; and - (ii) the establishment and keeping of trust ledger accounts; and - (iii) the establishment and keeping of records about controlled money and transit money; and - (iv) the establishment and keeping of registers of powers and estates in relation to trust money; and - (v) the recording of information about the investment of trust money; and - (vi) the giving of statements regarding trust money; - (d) the notification to the law society of information relating directly or indirectly to matters to which this part relates, including information about— (i) trust accounts, trust money and trust records; and (ii) the proposed or actual termination of a law practice that holds trust money; and (iii) the proposed or actual termination of engaging in legal practice in this jurisdiction by a law practice that holds trust money; and (iv) the proposed or actual restructuring of the business of a law practice so that it no longer holds or no longer will hold trust money; - (i) trust accounts, trust money and trust records; and - (ii) the proposed or actual termination of a law practice that holds trust money; and - (iii) the proposed or actual termination of engaging in legal practice in this jurisdiction by a law practice that holds trust money; and - (iv) the proposed or actual restructuring of the business of a law practice so that it no longer holds or no longer will hold trust money; - (e) the carrying out of unannounced examinations of a law practice’s trust records by an external examiner; - (f) the creation and exercise of liens over trust money; - (g) exemptions, or the giving of exemptions, from all or any stated requirements of this part. - (i) the keeping and reconciliation of trust records; and - (ii) the establishment and keeping of trust ledger accounts; and - (iii) the establishment and keeping of records about controlled money and transit money; and - (iv) the establishment and keeping of registers of powers and estates in relation to trust money; and - (v) the recording of information about the investment of trust money; and - (vi) the giving of statements regarding trust money; - (i) trust accounts, trust money and trust records; and - (ii) the proposed or actual termination of a law practice that holds trust money; and - (iii) the proposed or actual termination of engaging in legal practice in this jurisdiction by a law practice that holds trust money; and - (iv) the proposed or actual restructuring of the business of a law practice so that it no longer holds or no longer will hold trust money;