AustLII Tasmanian Consolidated Acts

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LEGAL PROFESSION ACT 2007 - SECT 274

ADI not subject to certain obligations and liabilities

(1)  An ADI at which a trust account is maintained 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 money 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 money in the account.
(2)  Subsection (1) does not relieve an ADI from any liability to which it is subject apart from this Act.



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