46Payment by cheque

46 Payment by cheque (1) This regulation applies to the withdrawal of trust money from a general trust account of a law practice by cheque. (2) A cheque must: (a) be made payable to or to the order of a specified person or persons and not to bearer or cash; and (b) be crossed "not negotiable"; and (c) include: (i) the name of the law practice or the business name under which the law practice engages in legal practice; and (ii) the expression "law practice trust account" or "law practice trust a/c". (3) A cheque must be signed: (a) by an authorised principal of the law practice; or (i) by an authorised legal practitioner associate; or (ii) by an authorised Australian legal practitioner who holds an unrestricted practising certificate authorising the receipt of trust money; or (iii) by 2 or more authorised associates jointly.

Legal Profession Regulations 2007 27 (4) A written record of the required particulars (which may be in the form of a cheque butt) must be kept of each payment made by cheque, whether by way of making a carbon copy or otherwise, unless at the time the cheque is issued those particulars are recorded by computer program in the trust account payments cash book. (5) If at the time the cheque is issued the required particulars are recorded by computer program in the trust account payments cash book, a written record must be kept that is sufficient to enable the accuracy of the particulars recorded by the computer program to be verified. (6) For subregulations (4) and (5), the required particulars are as of the ADI and the name of the person receiving the benefit of (d) details clearly identifying the name of the person on whose (e) details clearly identifying the ledger account to be debited; (7) Written records relating to payments by cheque (including cheque requisitions) must be kept in the order in which the cheques were issued. (8) Subregulation (2)(c) does not apply to an account established in this jurisdiction before the commencement of this regulation. (9) Subregulation (2)(c)(ii) does not require the repetition of the words "law practice" if those words form part of the name or business name of the law practice. (10) In this regulation: authorised means authorised by the law practice to sign cheques drawn on the general trust account.

Legal Profession Regulations 2007 28