144Withdrawal of trust money

144 Withdrawal of trust money

144 Withdrawal of trust money

(1) A law practice must not withdraw trust money from a general trust account otherwise than by cheque or electronic funds transfer.

Civil penalty: 50 penalty units.

(2) A law practice may do any of the following, in relation to trust money held in the practice’s general trust account or controlled money account—

(a) exercise a lien, including a general retaining lien, for the amount of legal costs reasonably due and owing by the person to the law practice, where the law practice is otherwise entitled to do so;

(b) withdraw money for payment to the law practice’s account for legal costs owing to the practice if the relevant procedures or requirements specified in the Uniform Rules for the purposes of this Division are complied with;

(c) deal with the balance as unclaimed money, after—

(i) deducting any legal costs properly owing to the practice; and

(ii) exhausting any other means of distributing it in accordance with the client’s instructions.

s 144: Am 2015 No 8, sec 19.