72Requirement for external examinations

72 Requirement for external examinations (1) For section 270(1) of the Act, a law practice must appoint a designated person as an external examiner to examine the practice's trust records. Note A designated person is a person appointed as such under section 268 of the Act. (2) If the only trust money received or held by a law practice during a financial year is transit money, the practice's trust records in respect of that year are not required to be externally examined.