Legal Profession Uniform Law Application Act 2014 - Law Assignment Help

Assignment Task

Objectives
• To inform and educate legal practitioners of the legislative requirements for the receipt, payment, record keeping and reporting of trust money under the Legal Profession Uniform Law Application Act 2014 and the Legal Profession Uniform General Rules 2015.
• To provide practice questions for completion by legal practitioners in order that practitioners may implement correct trust accounting processes.

Outcomes

At the conclusion of the course, legal practitioners should be able to:
• identify trust money;
• understand the obligations of establishing a trust bank account;
• understand the statutory obligations for dealing with trust money;
• understand the trust account procedures for recording transactions; and
• understand the external examination obligations for law practices with trust accounts.

Action Required by Participants
• Access a copy of the Legal Profession Uniform Law Application Act 2014 (“the Act”) and a copy of the Legal Profession Uniform General Rules 2015 (“the Rules”).
• In this paper “the Application Act” refers to the Legal Profession Uniform Law Application Act 2014. In this paper “the Uniform Law” refers to sections in the Legal Profession Uniform Law (Victoria) which is Schedule 1 of the Legal Profession Uniform Law Application Act 2014 (Vic).
• Read Part A: Reading Material and complete Part B: Questions of these course notes using the relevant sections of the Act and the Rules.
• Return a copy of the completed kit to the Compliance Department (9607 9311) at the Law Institute of Victoria – this can be via email or post.

Review of Course Requirements
All course kits are reviewed by a Trust Account Investigator and a pass must be achieved. Participants are required to complete all questions. If you obtain a satisfactory pass, your kit will be returned to you with the appropriate certificate. If you do not obtain a satisfactory pass, then you will be contacted by the Investigator to arrange a suitable day and time for a meeting to discuss your answers.

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