(1) Subject to section 249 (Trust money received in the form of cash), as soon as practicable after receiving trust money, a law practice must deposit the money in a general trust account of the practice unless (a) the practice has a written direction by an appropriate person to deal with it otherwise than by depositing it in the account; or(b) the money is controlled money; or(c) the money is transit money; or(d) the money is the subject of a power given to the practice or an associate of the practice to deal with the money for or on behalf of another person.Penalty: Fine not exceeding 100 penalty units.(2) Subject to section 249 , a law practice that has received money that is the subject of a written direction mentioned in subsection (1)(a) must deal with the money in accordance with the direction (a) within the period (if any) specified in the direction; or(b) subject to paragraph (a) , as soon as practicable after it is received.Penalty: Fine not exceeding 100 penalty units.(3) The law practice must keep a written direction mentioned in subsection (1)(a) for the period prescribed by the regulations.Penalty: Fine not exceeding 50 penalty units.(4) A person is an " appropriate person " for the purposes of this section if the person is legally entitled to give the law practice directions in respect of dealings with the trust money.