sec.54Trust account statements for sophisticated clients

### sec.54 Trust account statements for sophisticated clients Section 53 does not apply to a sophisticated client to the extent to which the client directs the law practice not to give trust account statements under that section. See section 300 of the Act for the definition sophisticated client . If the sophisticated client directs the law practice to give trust account statements on a basis different from that prescribed by section 53 , the law practice must, other than to the extent to which the direction is unreasonably onerous, give those statements as directed. The law practice must keep a copy of a trust account statement provided under this section. (sec.54-ssec.1) Section 53 does not apply to a sophisticated client to the extent to which the client directs the law practice not to give trust account statements under that section. See section 300 of the Act for the definition sophisticated client . (sec.54-ssec.2) If the sophisticated client directs the law practice to give trust account statements on a basis different from that prescribed by section 53 , the law practice must, other than to the extent to which the direction is unreasonably onerous, give those statements as directed. (sec.54-ssec.3) The law practice must keep a copy of a trust account statement provided under this section.