Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) An ADI at which a trust account is maintained by a law practice must pay interest on the account to the Funds Management Committee.
(2) An ADI at which a trust account is maintained by a law practice:
(a) is not under any obligation to control or supervise transactions in relation to the account or to see to the application of money disbursed from the account; and
(b) does not have, in relation to any liability of the law practice to the ADI, any recourse or right (whether by way of set-off counterclaim, charge or otherwise) against money in the account.
(3) Subsection (2) does not relieve an ADI from any liability to which it is subject apart from this Act.