Legal Profession Uniform Law Application Act 2014
46Statutory deposits
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46 Statutory deposits
46 Statutory deposits
(1) The local regulations may require a law practice to pay amounts out of a general trust account of the law practice into an ADI account maintained by the Law Society.
(2) Without limiting subsection (1), the local regulations may provide for the following—
(a) the type of account to be maintained by the Law Society,
(b) the amount of the payments to be made.
(3) All interest on the money in a general trust account is payable to the Law Society on account of the Public Purpose Fund.
(4) This section applies despite any other provision of this Part or Part 4.2 of the Legal Profession Uniform Law (NSW).