65Statements about receipt or holding of trust money

65 Statements about receipt or holding of trust money (1) The law society council may, by notice given under this section, require a law practice to give the law society council a statement— (a) stating whether or not the practice has during a stated period received or held trust money; and (b) if it has received or held trust money during the period, stating to which of the following categories the trust money belongs: (i) general trust money (other than that mentioned in subparagraphs (ii) to (iv)); (ii) controlled money; (iii) transit money; (iv) money subject to a power.

External examinations Division 6.7 (2) A notice may be given to apply in relation to 1 or more periods (whether occurring annually or otherwise), and may be withdrawn or amended by a further notice. (3) A notice may state the time by which or the period during which the requirement must be complied with. (4) A notice is given to— (a) a particular law practice by sending the notice by post to the (b) a particular class of law practices by publishing the notice in a circular distributed generally to law practices of the class or in a magazine or other publication available generally to law practices of the class. (5) A law practice— (a) must comply with a requirement imposed on it under this section and must do so by the time or during the period stated in the notice for compliance; and (b) must not include in the statement any information that is false or misleading in a material particular.