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LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 144
Withdrawal of trust money
144 Withdrawal of trust money
(1) A law practice must not withdraw trust money from a general trust account
otherwise than by cheque or electronic funds transfer. Civil penalty: 50
penalty units.
(2) A law practice may do any of the following, in relation to
trust money held in the practice's general trust account or controlled money
account-- (a) exercise a lien, including a general retaining lien, for the
amount of legal costs reasonably due and owing by the person to the law
practice, where the law practice is otherwise entitled to do so;
(b) withdraw
money for payment to the law practice's account for legal costs owing to the
practice if the relevant procedures or requirements specified in the Uniform
Rules for the purposes of this Division are complied with;
(c) deal with the
balance as unclaimed money, after-- (i) deducting any legal costs properly
owing to the practice; and
(ii) exhausting any other means of distributing it
in accordance with the client's instructions.
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