No but it is required, pursuant to subsection 46(1) of the Legal Profession Regulation, that written notice be given to the Queensland Law Society of the opening of a trust bank account, within 15 days of the opening of the account.
Further information in relation to the opening of a trust bank account is available at http://www.qls.com.au/content/lwp/wcm/resources/file/ebacfe05c5a68e7/Opening%20a%20Trust%20Account.pdf
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