54Withdrawal of controlled money must be authorised

54 Withdrawal of controlled money must be authorised (1) A withdrawal of money from a controlled money account of a law practice must be effected by, under the direction of or with the authority of— (a) an authorised principal of the law practice; or (i) an authorised legal practitioner associate; or (ii) an authorised Australian legal practitioner who holds an (iii) 2 or more authorised associates jointly. (2) A written record of the required particulars must be kept of each withdrawal unless at the time the withdrawal is made those particulars are recorded by computer program. (3) If at the time the withdrawal is made the required particulars are recorded by computer program, a written record must be kept that is sufficient to enable the accuracy of the particulars recorded by the computer program to be verified. (4) For subsections (2) and (3), the required particulars are as follows: (b) the amount withdrawn; (c) in the case of a transfer made by electronic funds transfer—the name and number of the account to which the amount was (d) the name of the person to whom payment is to be made or, in payment was made; (g) the person or people effecting, directing or authorising the withdrawal. (5) The particulars are to be recorded in the order in which the payments are recorded and are to be recorded separately for each controlled money account. authorised means authorised by the law practice to effect, direct or give authority for a withdrawal of money from the controlled money