Legal Profession Uniform Law (NSW)
143Trust money received in the form of cash
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143 Trust money received in the form of cash
143 Trust money received in the form of cash
(1) A law practice must deposit all trust money received in the form of cash (other than controlled money) in the law practice’s general trust account as soon as practicable after receiving the money, even if it has a written direction to deal with it in some other way. Once deposited, the money may be dealt with in accordance with the written direction.
Civil penalty: 50 penalty units.
(2) A law practice must deposit controlled money received in the form of cash in a controlled money account and deal with it in accordance with the Uniform Rules.
Civil penalty: 50 penalty units.