54Statements regarding receipt or holding of trust money

#### 54 Statements regarding receipt or holding of trust money 54 Statements regarding receipt or holding of trust money > > (1) The designated local regulatory authority may, by written notice, require a law practice to give the regulatory authority a statement within a specified period— > > > > > (a) specifying whether or not the practice has, during a period specified by the regulatory authority, received or held trust money, and > > > > > (b) if it has received or held trust money during that period, specifying to which of the following categories the trust money belongs— > > > > > > > (i) general trust money, > > > > > > > (ii) controlled money, > > > > > > > (iii) transit money, > > > > > > > (iv) money subject to a power, > > > > > > > (v) money of the kind referred to in section 129(2)(d)(i) and (ii) of the Uniform Law, > > > > > > > (vi) written direction money. > > > (2) A notice may be given so as to apply in respect of one or more periods (whether they occur annually or otherwise) and may be withdrawn or varied by a further notice. > > **rule 54:** Am 2019 (610), Sch 1\[3\].