Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) A law practice must not mix trust money with other money.
(2) If a law practice that is an Australian legal practitioner who is a sole practitioner, or an incorporated legal practice, contravenes subsection (1), the practitioner or practice commits an offence.
Maximum penalty: 50 penalty units.
(3) If a law practice that is a law firm, or a multidisciplinary partnership, contravenes subsection (1), each principal of the practice commits an offence.
Maximum penalty: 50 penalty units.
Note For this part, a reference to a law practice includes the principals of the law practice (see s 218 (Liability of principals of law practices under pt 3.1)).
(4) This section does not apply in relation to the mixing of trust money with other money if—
(a) the law society council has authorised the mixing of the trust money with other money to the extent to which it is mixed; and
(b) the law practice has complied with any conditions put on the authorisation by the law society council.
(5) An offence against subsection (2) or (3) is a strict liability offence.