Withdrawal from Statutory Deposit

The law practice should be monitoring its general trust account to ensure that it is not overdrawn. If the law practice believes that a withdrawal from the statutory deposit is necessary, the practice should request the authorised ADI to transfer the necessary amount to its general trust account (Note that this involves different procedures depending on the authorised ADI in which the account is maintained.). The practice can make its own determination as to the amount to be withdrawn. It is not necessary to seek the permission of the Law Society Council, being the local regulatory authority, to make the withdrawal.