Notification
forms
The Legal Profession Uniform General Rules 2015 provide for a number of notifications to the designated local regulatory authority - the Law Society - under Chapter 4 of the Legal Profession Uniform Law (NSW).
The following forms will assist law practices to comply with the Rules.
Opening and closing accounts
Notification of opening a general trust account - Rule 50 (1)
Use this form to notify the designated local regulatory authority - the Law Society - of the opening of a general trust account. It should be noted that a general trust account can only be maintained with an authorised deposit-taking institutions (ADI). See a list of authorised ADIs.
Notification of closing a general trust account - Rule 50 (3)
Use this form to notify the designated local regulatory authority - the Law Society - of the closing of a general trust account.
Notification of closing law practice, ceasing to engage in legal practice, or ceasing to receive trust money - Rule 51 (1)
Use this form to notify the designated local regulatory authority - the Law Society - when a law practice ceases to hold trust money because it ceases to exist as a law practice, to engage in legal practice or to practise in such a way as to receive trust money.
Authorised signatories
Notification of authorised signatories as at July each year - Rule 50 (2)
Use this form to notify the designated local regulatory authority - the Law Society - in July of each year of persons, who have been authorised to sign trust cheques or otherwise to effect, direct or give authority for the withdrawal of money from a general trust account if the authorised signatories were not notified as part of the Law Practice Confirmation and Trust Money Statement most recently submitted.