Legal Profession (Law Practice Entities) Rules 2015 · As enacted · Part 6 · Joint Law Ventures, Formal Law Alliances, Foreign Law Practices, Representative Offices and Foreign Interests in Singapore Law Practices
66. Bank account
Feedback & supportWhere a foreign group practice does not have a manager, the licensed foreign law practices in the foreign group practice may open and operate a common office account.
Where a foreign group practice has a manager, the licensed foreign law practices in the foreign group practice may open and operate a common office account for the purpose of meeting common expenses not borne by the manager.
Where any licensed foreign law practice in a foreign group practice is required to maintain a client account, each such licensed foreign law practice in the foreign group practice must maintain, separately from the other such licensed foreign law practices in the foreign group practice, its own client account.
Subregulation 1
Where a foreign group practice does not have a manager, the licensed foreign law practices in the foreign group practice may open and operate a common office account.
Subregulation 2
Where a foreign group practice has a manager, the licensed foreign law practices in the foreign group practice may open and operate a common office account for the purpose of meeting common expenses not borne by the manager.
Subregulation 3
Where any licensed foreign law practice in a foreign group practice is required to maintain a client account, each such licensed foreign law practice in the foreign group practice must maintain, separately from the other such licensed foreign law practices in the foreign group practice, its own client account.