Who can be authorised to withdraw money from a trust account ?

Subsection 37(3) of the Legal Profession Regulation 2007 (LPR) prescribes who is able to withdraw money from a trust account by signing a trust account cheque.

Subsection 38(2) of the LPR prescribes who is able to withdraw money from a trust account by authorising an electronic funds transfer (EFT).

The provisions of both subsections are the same. They provide that money can be withdrawn from a trust account by:

1. An authorised principal of the law practice, solely.
2. An authorised (by the law practice) Australian legal practitioner who holds an Unrestricted Practising Certificate, solely, if an authorised principal of the law practice is not available.
3. An authorised (by the law practice) Australian legal practitioner associate (employed solicitor of the practice), irrespective of whether the employed solicitor holds an Unrestricted Practising Certificate, solely, if an authorised principal of the law practice is not available.
4. Any two (2) or more authorised associates (including non-solicitors), jointly, if an authorised principal of the law practice is not available.