134Provisions relating to certain money

134 Provisions relating to certain money

134 Provisions relating to certain money

(1) If a law practice receives or holds money that is non-trust money (other than money for the payment of legal costs due to the law practice), it must give the person who provided the money written notice that—

(a) the money will not be treated as trust money; and

(b) the money is not subject to the provisions relating to trust money in this Law or the Uniform Rules; and

(c) a claim against the fidelity fund of this jurisdiction cannot be made in respect of the money.

Civil penalty: 100 penalty units.

(2) For the purposes of subsection (1), non-trust money is money that is not trust money for the purposes of this Law because of section 129(2)(c), (d), (e) or (f).