Australian Capital Territory Numbered Regulations

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LEGAL PROFESSION REGULATION 2006 (NO 37 OF 2006) - REG 25

Obligation to deposit subject to availability of trust funds

    (1)     If—

        (a)     a law practice has not, before the end of a period within which the law practice is required to make a deposit under this part, made the deposit; and

        (b)     on the last day of the period, the money standing to the credit of the law practice's general trust account are not sufficient to enable the deposit to be made;

the period is extended until there is standing to the credit of the general trust account of the law practice on a subsequent quarter day in the year in which the end of that period happens an amount sufficient to enable the deposit to be made.

    (2)     In this section:

"quarter day" means 30 September, 31 December or 31 March.



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