19Holding and receiving trust money

19 Holding and receiving trust money

19 Holding and receiving trust money

(1) For the Act, section 166(2)(d), a barrister may receive and hold trust money if—

(a) the money is received in relation to instructions accepted by the barrister directly from a person who is not a solicitor, and

(b) as soon as possible after receiving the money, the barrister—

(i) deposits the money into a trust money account maintained by the barrister, if it was not deposited directly into a trust money account, and

(ii) gives the person from whom the money was received a written receipt that includes the information specified in subsection (2), and

(c) the barrister has complied with section 18 in relation to the trust money account, and

(d) the money remains in the trust money account until the barrister—

(i) gives a bill to the client, or

(ii) refunds the money to the client, or

(iii) pays the money to a solicitor later engaged by the client, and

(e) the barrister appoints an external examiner to examine the trust money account for each reporting period, and

(f) the barrister obtains from the external examiner a report about the examination that covers the reporting period, and

(g) the barrister provides to the Bar Association a copy of the examination report, in a form approved by the Bar Council, not later than 7 June immediately after the end of the period to which the report relates.

(2) For subsection (1)(b)(ii), the receipt must contain the following information—

(a) the date the receipt was prepared,

(b) the date the barrister received the money,

(c) the amount of money received,

(d) the name of the person from whom the money was received,

(e) the purpose for which the money was received,

(f) the circumstances in which the money may be paid from the trust money account.