Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A law practice must not mix trust money with other money.
(2) Subsection (1) does not apply in relation to the mixing of trust money with other money if:
(a) the Law Society has authorised the mixing of the trust money with other money to the extent to which it is mixed; and
(b) the law practice has complied with any conditions imposed on the authorisation by the Society.
(3) If a law practice that is an Australian legal practitioner who is a sole practitioner, or an incorporated legal practice, contravenes subsection (1), the practitioner or practice is guilty of an offence.
Maximum penalty: 500 penalty units.
(4) If a law practice that is a law firm or multi-disciplinary partnership contravenes subsection (1), each principal of the practice is guilty of an offence.
Maximum penalty: 500 penalty units.
(5) An offence against subsection (3) or (4) is an offence of strict liability.