General information

The name of the trust account must include:

• the name of the law practice or the business name under which the law practice engages in legal practice; and
• the expression "law practice trust account" or "law practice trust a/c".

The practice must ensure the authorised deposit-taking institution (ADI) with which the account is kept is aware that the account is to be configured as a law practice trust account, and that bank charges must not be debited to the account. Arrangements need to be made for any account fees charged by the ADI to be debited to the practice's office account. 

A general trust account can only be established with an approved ADI.

Approved ADIs in the ACT are:

• ANZ Bank
• Bendigo and Adelaide Bank
• Commonwealth Bank
• Macquarie Bank
• National Australia Bank
• St George Bank
• Westpac Bank

Within 14 days of opening a general trust account, a law practice must notify the Society in writing. Submit the notification using the form developed by the Society.

Refer to s 50(1) of the Legal Profession Regulation 2007 (ACT).

Legal practitioners must notify the Society of any irregularities in relation to trust money as soon as practicable after becoming aware of the irregularity.

The Council provides exemption from this obligation only in limited circumstances (see Changes to trust account irregularity notifications.

Use the form developed by the Society to submit the notification.

Refer to s 231 of the Legal Profession Act 2006 (ACT). 

Section 38(5) of the Legal Profession Regulation 2007 (ACT) lists the required particulars.

Note that the receipt must show the date the receipt is made out and, if different, the date the money was actually received.

An amount of trust money held by a law practice becomes unclaimed money if:

• The amount has been held by the practice for a period of 6 years during which the practice has had no knowledge of the existence or address of the person on whose behalf the amount is held; or

• The person on whose behalf the amount is held failed to accept payment of the amount when tendered.

Unclaimed money must be transferred directly to the Public Trustee and Guardian.

Refer to s 259 of the Legal Profession Act 2006 (ACT). 

A law practice may request repayment of money held in the Society's Statutory Deposit Account, to enable necessary payments to be made from teh practice's general trust account. The law practice must have reasonable grounds for believing that the payment needs to be made out of the general trust account within the next 7 days.

A request needs to be signed by a person with authority over the general trust account, using the Statutory Deposit Refund Request form found on the Society's website here.

Refer to section 72 of the Legal Profession Regulation 2007 (ACT).

Designated External Examiners

Law firms may only appoint an individual who appears on the list of designated external examiners maintained by the Law Society. If you have any questions, please contact trustaccounts@actlawsociety.asn.au.

• View the list of Designated External Examiners

A law practice must appoint an external examiner by no later than 8 April each year. Only a  person on the list of designated external examiners may be appointed. 

Important Notice — a practice must not appoint an external examiner who is related to the practice's bookkeeper.

Notification to the Society is required each year in writing within one month of engaging the external examiner. You must notify the Society of the appointment in writing, using the form developed by the Society.

• View the list of Designated External Examiners


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The external examination report must be submitted to the Society by 31 May immediately following the end of the trust accounting year on 31 March.

Statutory Deposit — any payment required to be made to the Society needs to be made by 30 June, immediately following the end of the trust accounting year.

The calcluation by which teh amount owing was calculated, must also be submitted to teh society by 30 June, using the form developed by the Society.

By 31 July each year, each law practice must provide to the Society written notice of the individuals authorised at 1 July of that year to sign cheques drawn on a general trust account of the practice; or otherwise to effect, direct or give authority for the withdrawal of money from a general trust account of the practice.

Use the form developed by the Society to make this submission.