Australian Capital Territory Current Acts

LEGAL PROFESSION ACT 2006 - SECT 251

    (1)     An ADI at which a trust account is kept by a law practice—

        (a)     is not under any obligation to control or supervise transactions in relation to the account or to see to the application of amounts disbursed from the account; and

        (b)     does not have, in relation to any liability of the law practice to the ADI, any recourse or right (whether by way of set-off counterclaim, charge or otherwise) against amounts in the account.

    (2)     Subsection (1) does not relieve an ADI from any liability to which it is subject apart from this Act.