Legal Profession Uniform Law (NSW)
361ADI disclosure requirements
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361 ADI disclosure requirements
361 ADI disclosure requirements
(1) An ADI must, at the request of an external intervener for a law practice, disclose to the intervener, without charge—
(a) whether or not the law practice, or an associate of the law practice specified by the intervener, maintains or has maintained an account at the ADI during a period specified by the intervener; and
(b) details identifying every account so maintained.
Civil penalty: 100 penalty units.
(2) An ADI at which an account of a law practice or associate of a law practice is or has been maintained must, at the request of an external intervener for the law practice, and without charge—
(a) produce for inspection or copying by the intervener, or a nominee of the intervener, any records relating to any such account or money deposited in any such account; and
(b) provide the intervener with full details of any transactions relating to any such account or money.
Civil penalty: 100 penalty units.
(3) If an external intervener believes, on reasonable grounds, that trust money has, without the authorisation of the person who entrusted the trust money to the law practice, been deposited into the account of a third party who is not an associate of the law practice, the ADI at which the account is maintained must disclose to the intervener, without charge—
(a) whether or not a person specified by the intervener maintains or has maintained an account at the ADI during a period specified by the intervener; and
(b) the details of any such account.
Civil penalty: 100 penalty units.
(4) An obligation imposed by this section on an ADI does not apply unless the external intervener produces to the ADI evidence of the appointment of the intervener in relation to the law practice concerned.
(5) A request under this section may be general or limited to a particular kind of account.
(6) This section applies despite any legislation or duty of confidence to the contrary.
(7) An ADI or an officer or employee of an ADI is not liable to any action for any loss or damage suffered by another person as a result of producing records or providing details in accordance with this section.