Australian Capital Territory Numbered Regulations

LEGAL PROFESSION REGULATION 2006 (NO 37 OF 2006) - REG 20

    (1)     The kinds of conditions that may be imposed on an approval of an ADI are conditions that—

        (a)     provide for 1 or more of the matters to which subsection (2) applies; or

        (b)     require arrangements to be negotiated and entered into between the ADI and the licensing body that provide for 1 or more of the matters to which subsection (2) applies.

    (2)     This subsection applies to the following:

        (a)     the payment of interest to the licensing body on deposits in trust accounts or any part of deposits in trust accounts;

        (b)     how the licensing body is told about amounts held in trust accounts;

        (c)     the auditing of balances in trust accounts;

        (d)     the keeping of any trust accounts or only trust accounts of a particular kind (for example, controlled money accounts);

        (e)     any matters relevant to paragraphs (a) to (d).

Note     An example is part of the regulation, is not exhaustive and may extend, but does not limit, the meaning of the provision in which it appears (see Legislation Act, s 126 and s 132).

Part 6     Statutory deposits