52Trust account
statements
(1)
A law practice must give a trust account
statement to each person for whom or on whose behalf trust money (other than
transit money and written direction money) is held or controlled by the law
practice or an associate of the practice.
(2)
Where relevant, the law practice must give the
person a separate statement for:
(a)
each trust ledger account,
and
(b)
each record of controlled money movements,
and
(c)
each record of dealings with the money that is
the subject of a power to which the law practice or an associate of the law
practice is a party.
(3)
A trust account statement is to contain
particulars of:
(a)
all the information required to be kept under the
Uniform Law or these Rules in relation to the trust money included in the
relevant ledger account or record, and
(b)
the remaining balance (if any) of the
money.
(4)
A trust account statement is to be given:
(a)
as soon as practicable after completion of the
matter to which the ledger account or record relates, and
(b)
as soon as practicable after the person for whom
or on whose behalf the money is held or controlled makes a reasonable request
for the statement during the course of the matter, and
(c)
except as provided by subrule (5) or (6), as soon
as practicable after 30 June in each year.
(5)
The law practice is not required to give a trust
account statement under subrule (4) (c) in respect of a ledger account or
record if at 30 June the balance of the ledger account or record is zero and
no transaction affecting the account has taken place within the previous 12
months.
(6)
Without limiting subrule (5), the law practice is
not required to give a trust account statement under subrule (4) (c) in
respect of a ledger account or record kept in a jurisdiction if at 30 June
immediately before the commencement day for that jurisdiction:
(a)
the ledger account or record has been open for
less than 6 months, or
(b)
a trust account statement has been furnished
within the previous 12 months and there has been no subsequent transaction
affecting the ledger account or record,
but this subrule expires immediately before the first
anniversary of that commencement day.
(7)
The law practice must keep a copy of a trust
account statement given under this rule.
rule 52: Am 2015
(329), cl 4 (1).