Notification of opening a Trust Account

Notification of Opening a general trust account

Rule 50(1) of the Legal Profession Uniform General Rules 2015 provides that within 14 days after establishing a general trust account, a law practice must give the Law Society Council written notice of that fact.

This form, duly completed, will be accepted as written notification to the Law Society Council of the opening of a general trust account.

Notification details

Authorised principal *

Email Address *

Law practice name *

I, the authorised principal of the above law practice, notify the Law Society Council that a general trust account has been opened, as detailed below:

Bank Details

Name of Authorised ADI *

Branch Name *

BSB *

Account Number *

Name of the Trust Account *

Date Trust Account opened *

Upload a copy of your Trust Account Bank Statement

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Notes:

A law practice must not receive trust money unless a principal of the law practice holds an Australian practising certificate authorising the receipt of trust money; or the law practice is otherwise authorised to receive trust money under the Uniform Rules.
A general trust account must be opened with an authorised Authorised Deposit-taking Institution (“authorised ADI”). A list of the authorised ADI’s can be obtained from the Law Society Website.
Trust cheques and the authority to effect an Electronic Funds Transfer must be signed or effected by an authorised principal of the law practice. In the event that the authorised principal(s) is unavailable person(s) as prescribed by rule 43(2) may sign the trust cheque or effect the EFT.

Declaration

The contents of this submission are true and correct; and I have read the Personal Information Collection Notice and consent to The Law Society of New South Wales collection, use and disclosure of information in accordance with that Notice *

Dated *