Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) A law practice must not knowingly receive money or record receipt of money in the practice's trust records under a false name.
(2) If a person on whose behalf trust money is received by a law practice is commonly known by 2 or more names, the practice must ensure that the practice's trust records record all names by which the person is known.
(3) If a law practice that is an Australian legal practitioner who is a sole practitioner, or an incorporated legal practice, contravenes subsection (1) or (2), the practitioner or practice commits an offence.
Maximum penalty: 50 penalty units.
(4) If a law practice that is a law firm, or a multidisciplinary partnership, contravenes subsection (1) or (2), 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)).