Law Society NT Logo
Law Society NT Logo

Trust account notifications

The Legal Profession Act 2006 requires legal practices that operate a trust account to notify the Law Society in certain situations. The listed notifications are now online forms available in the table below and in the Members Only section of the Law Society website.

The Annual Reporting Obligations online forms will be activated on 1 April each year.

Should you have difficulty completing the online forms or if you are not a member please contact the Manager Regulatory Services on 8981 5104 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Annual Reporting Obligations (1 April - 31 March)

Event

Time Line

Notification

Annual Declaration Form A

Required by all entities providing legal services

By 7 April 2017

Should it be required prior to this date, please contact the Trust Account Supervisor

Annual Declaration Part A - Required to be completed by all entities providing legal services (r71)

Annual Trust Money Statement Form B

Required by all entities with controlled, invested and trust monies subject to a power


By 21 April 2017

Should it be required prior to this date, please contact the Trust Account Supervisor

Annual Declaration Part B - Trust Money Statement (s270)

Notification 72

Appointment or termination of an External Examiner

By 21 April 2017

Notification 72 appointment or termination of an External Examiner (r72)

Self-Assessment Check List

Practitioners / practices who have received entrusted money during the reporting

This should be completed and provided to your external examiner when you engage them

Annual Self-Assessment Compliance Checklist

External Examiners Report

In the normal course of business it is the Examiner, because it is their report who will submit the report. However it is the practitioner who is ultimately responsible to ensure the report is submitted.

By 31 May 2017

External Examiner's Report

(final report to include Annual Declaration Part A, B and the Self-Assessment Check List)

 

Annual Declaration of Persons authorised to effect withdrawals 1st July each year

By 1 August 2017

Annual Declaration (r55(2)(b) of Persons authorised to effect withdrawals 1st July each year

     

Ad hoc Reporting Obligations

Event

Time Line

Notification

Notification 77

Open a new Trust Account

Within 14 Days

Open new trust account

Notification 77 (1)(c)

Update Signatories to an existing account

Within 14 Days

Appoint or terminate an authorised signatory

Notification 73

Closure of trust accounts (including information required under r55(2)

Within 14 Days

Closure of general, controlled and or investment trust accounts

Notification S256 (1) (2)

Suspected or identified irregularities of trust money

Within 14 Days

Notification S256 (1) (2) suspected or identified irregularities of trust money

Unclaimed Trust Money

Application to submit

After two years of dormant ledger accounts

Application to submit Unclaimed Trust Money

Normal 0 false false false EN-AU X-NONE X-NONE

Annual Self-Assessed Compliance Check List?

Page last updated 1 July 2015

Office Location

Level 3, 9 Cavenagh Street
Darwin NT 0800

Mailing Address

GPO Box 2388
Darwin NT 0801

Contact

Phone: 08 8981 5104
Fax: 08 8941 1623
Email: lawsoc@lawsocietynt.asn.au

Connect