Australian Capital Territory Numbered Regulations

LEGAL PROFESSION REGULATION 2007 (NO 27 OF 2007)

- made under the Legal Profession Act 2006

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name of regulation  
   2.       Commencement  
   3.      Dictionary  
   4.      Notes  

   PART 2--IMPORTANT TERMS

   5.      Default decision of associate's home jurisdiction—Act, s 10 (4) (b)  

   PART 3--RESERVATION OF LEGAL WORK AND LEGAL TITLES

   6.      Declaration of exempt person—certain supervised employees—Act, s 16 (4) (e)  
   7.      Declaration of exempt person—member of organisation representing veterans—Act, s  
   8.       Presumptions about taking or using certain names, titles or descriptions—Act,  

   PART 4--LEGAL PRACTICE--AUSTRALIAN LEGAL PRACTITIONERS

   9.      Application of Act, s 50 to certain practitioners—Act, s 33 (2)  
   10.     Criteria for grant or renewal of unrestricted practising certificate—Act, s 35  
   11.     Procedure for applications for barrister practising certificate—Act, s 35  
   12.     Period for applying for renewal of local practising certificate—Act, s 43  
   13.     Period of supervised legal practice—Act, s 50 and s 75  
   14.     Suspending or cancelling local practising certificate—additional grounds—Act,  
   15.     Particulars for register of local practising certificates—Act, s 79 (2)  
   16.     Prescribed agency—Act, dictionary, definition of government lawyer, par (c)  
   17.     Determination of service fee, barrister practising certificate applications—Act,  
   18.     Corporations that are not incorporated legal practices—Act,  
   19.     Prohibition on conduct of managed investment scheme by incorporated legal  
   20.     Period of notice of ceasing to practice—Act, s 106 (1) (b)  
   21.     Disqualifications and prohibitions—Act, s 122 (10), s 123 (5) and  

   PART 5--LEGAL PRACTICE--FOREIGN LAWYERS

   22.     Scope of practice—Act, s 157 (1) (b) and (d)  
   23.     Trust money and trust accounts—Act, s 164 (2)  
   24.     Disclosure statements for professional indemnity insurance—Act, s 165  
   25.     Contributions to fidelity fund—Act, s 166  
   26.     Levy to supplement fidelity fund—Act, s 166  
   27.     Locally-registered foreign lawyers not covered by fidelity fund  
   28.     Particulars for register of locally-registered foreign lawyers—Act, s 201  

   PART 6--TRUST MONEY AND TRUST ACCOUNTS

           Division 6.1--Preliminary

   29.     Application—pt 6  
   30.     Definitions—pt 6  
   31.     Conditions on approval of ADIs—Act, s 250 (2)  

           Division 6.2--Computerised accounting systems

   32.     Application—div 6.2  
   33.     Copies of trust records to be printed  
   34.     Chronological record of information to be made  
   35.     Requirements about computer accounting systems  
   36.     Backups  

           Division 6.3--General trust accounts

   37.     Establishment of general trust account—Act, s 221 (2)  
   38.     Receipting of trust money  
   39.     Deposit records for trust money  
   40.     Direction for non-deposit of trust money in general trust account—Act, s 222 (4)  
   41.     Payment by cheque  
   42.     Payment by electronic funds transfer  
   43.     Recording transactions in trust account cash  
   44.     Trust account receipts cash book  
   45.     Trust account payments cash book  
   46.     Recording transactions in trust ledger accounts  
   47.     Journal transfers  
   48.     Reconciliation of trust records  
   49.     Trust ledger account in name of law practice or legal practitioner associate  
   50.     Notification requirements for general trust accounts  

           Division 6.4--Controlled money

   51.     Maintenance of controlled money accounts—Act, s 224 (4)  
   52.     Receipt of controlled money  
   53.     Deposit of controlled money—Act, s 224 (5)  
   54.     Withdrawal of controlled money must be authorised  
   55.     Register of controlled money  

           Division 6.5--Transit money

   56.     Information to be recorded about transit money—Act, s 225  

           Division 6.6--Trust money generally

   57.     Trust account statements  
   58.     Trust account statements for sophisticated clients  
   59.     Register of investments—Act, s 221  
   60.     Trust money subject to specific powers—Act, s 226  
   61.     Register of powers and estates in relation to trust money  
   62.     Withdrawing trust money for legal costs—Act, s 229 (1) (b)  
   63.     Keeping of trust records—Act, s 232 (2) (a)  
   64.     Keeping other records and information  
   65.     Statements about receipt or holding of trust money  

           Division 6.7--External examinations

   66.     Appointment of external examiners—Act, s 241 (1)  
   67.     Requirement for external examination—Act, s 241 (3)  
   68.     Carrying out examination—Act, s 246  

           Division 6.8--Statutory deposits

   69.     Interpretation—div 6.8  
   70.     Statutory interest account—Act, s 253 (2) (a) and  
   71.     Law practice to deposit part of trust money with law society  
   72.     Repayment of deposits  
   73.     Obligation to deposit subject to availability of trust funds  
   74.     Amendment of notional amount by law society  
   75.     Statutory deposit account—Act, s 253 (2) (a) and  
   76.     Arrangements relating to statutory interest account  
   77.     Use of money in statutory interest  
   78.     Audit of deposits etc  

           Division 6.9--Miscellaneous

   79.     Law practice closing down, closing office or ceasing to receive or hold trust money  
   80.     Disclosure of accounts used to hold money entrusted to legal practitioners—Act, s 258  
   81.     Exemptions  

   PART 7--COSTS DISCLOSURE AND ASSESSMENT

   82.     When does a matter have a substantial connection with the ACT—Act, s 267  
   83.     Exceptions to disclosure requirement—Act, s 272 (1) (f)  

   PART 8--PROFESSIONAL INDEMNITY INSURANCE

   84.     Professional indemnity insurance for insurable legal practitioners—Act,  

   PART 9--FIDELITY COVER

   85.     Caps on payments from fidelity fund—Act, s 348  
   86.     Protocols—Act, s 354  
   87.     Notice of authority for interstate legal practitioner to withdraw from local trust  
   88.     Contribution by interstate legal practitioner to fidelity fund—Act, s 364 (2)  

   PART 10--COMPLAINTS AND DISCIPLINE

   89.     Register of disciplinary action—Act, s 448 (2) (e)  

   PART 11--CONSEQUENTIAL AMENDMENTS

   90.     Legal Profession Regulation 2006—repeal  
   91.     Legal Profession Regulation 2006, part 10  
           DICTIONARY
           ENDNOTES