Singapore legislation
Clause 19
Clause 19
Amendment of section 72
Section 72 of the principal Act is amended —
by deleting the word “shall” in subsection (1) and substituting the word “may”;
by deleting paragraph (d) of subsection (1) and substituting the following paragraphs:“(d)as to the keeping by every solicitor referred to in paragraph (c) of accounts containing particulars and information as to moneys received, held or paid by him for or on account of any trust referred to in that paragraph;
(da)as to the circumstances in which, and the manner by which, the Council may prohibit a solicitor from authorising or effecting any withdrawal of money from any account referred to in paragraph (a) or (c), whether such withdrawal is authorised or effected by the solicitor signing any cheque or other instrument or otherwise; and”;
by deleting the words “or to Joint Law Ventures or Formal Law Alliances registered under Part IXA” in subsection (2); and
by inserting, immediately after subsection (2), the following subsection:“(2A) Such rules shall apply only to Singapore law practices and solicitors practising therein.”.