Controlled money definition
Controlled money means money received or held by a law practice for which the practice has a written direction to deposit the money in an account, other than a general trust account, over which the practice has or will have exclusive control.
Controlled money means money received or held by a law practice in respect of which the law practice has a written direction to deposit the money in an account (other than a general trust account) over which the practice has or will have exclusive control. (S128(1) of the Uniform Law) “Controlled money account” means an account maintained by a law practice with an ADI for the holding of controlled money received by the law practice. (S128(1) of the Uniform Law)
Controlled money means money received or held by a licensee in respect of which the licensee has a written direction that is permitted under section 64 to deposit the money in an account (other than a general trust account) over which the licensee has or will have exclusive control;
More Definitions of Controlled money
Controlled money means trust money received by a law practice with a written direction to deposit the money in an account (other than a general trust account) over which the practice has or will have exclusive control. “Controlled Money account” means an account maintained by a law practice with an ADI for the holding of controlled money received by the practice
Controlled money means trust money received by a law practice with a written direction to deposit the money in an account
Controlled money means money received or held by a law practice in respect of which the practice has a written direction to deposit the money in an account (other than a general trust account) over which the practice has or will have exclusive control: Legal Profession Act 2004 (NSW) s 243(1)
Controlled money means "money received or held by a law practice in respect of which the practice has a written direction to deposit the money in an account (other than a general trust account) over which the practice has or will have exclusive control"92. "Transit money" means "money received by a law practice subject to instructions to pay or deliver it to a third party, other than an associate of the practice"93. A "power" includes an "authority"94.
Controlled money means any money received or held by a law practice where a written direction has been received from the client to deposit the money in an account other than a general trust account. The interest that is earned on a controlled money account does not accrue to the benefit of the PPF.