Date issued: 30 August 2017
The use of "approved clerks" to receive trust money on behalf of barristers is a long standing practice of the Victorian Bar. From today, the Legal Profession Uniform Law Application Act 2014 (Vic) (the Victorian Application Act) has been amended to provide stronger regulation by the Victorian Legal Services Board + Commissioner (the Board) in respect of approved clerks.
This move strengthens the regulatory oversight of approved clerks, making it more consistent with the regime that applies to law practices.
In general, the Uniform Law requirements for the handling of trust money apply to an approved clerk in the same way that they apply to a law practice.
The changes to Division 3 of Part 5 of the Victorian Application Act are:
View legislation here