Important Dates for Legal Practitioners

Important dates for Legal Practitioners provides a guide to important dates through the calendar year relating to trust accounting and MCPD Compliance.

 

Date 
 
 
 

31 March

End of MCPD year

14 April

Lodge MCPD certificate of compliance with Society

During April

Regulation 33 3(b) “during April of each year, must give the Society written notice of the associates (including their names and addresses) who are authorised, as at 31 March of that year—
(i)to sign cheques drawn on a general trust account of the practice; or
(ii)otherwise to effect, direct or give authority for the withdrawal of money from a general trust account of the practice
.”

31 May

Complete MCPD rectification
End of Combined Trust Account calculation period

 7 June Lodge statutory declaration confirming MCPD rectification with Society 

 14 June Last day to make deposit into Combined Trust Account or lodge written Notice of Withholding with Society 

 30 June Expiration of Practising Certificates, PI Insurance and Law Society membership

 30 June Appoint External Examiner, if necessary; and arrange for External Examination Report for year ending 30 June 2017

 30 June Issuance of Practitioners Statements Regarding Receipt or Holding of Trust Money; and Practice Checklist for completion legal practitioners 

 30 June Furnish Trust Account Statements as soon as practicable after 30 June unless exempted by Regulation 40 (7) 

 30 June
Law Practices that are exempt from the PII Scheme must submit their Currency of Insurance for the proceeding policy year.

 1 July Commencement of new Practising Certificates, PI Insurance and Law Society membership 

 31 August Low Income Sole Practitioners must submit their Statutory Declarations declaring their taxable income for the Sole Practice for the previous financial year.

 31 October External Examiner to provide External Examination Report to the Law Society 

 30 November End of Combined Trust Account calculation period 

 14 December Last day to make required deposit into Combined Trust Account or lodge written Notice of Withholding with Society 

 December  December; Law Practices that are exempt from the PII Scheme must submit their application for Exemption for the proceeding policy year.

Section 27(2) of the SA Acts Interpretation Act 1915 states that if a date by which something must be done under statute falls or expires on a weekend or on any public holiday, the time will be extended so as to fall or expire on the business day immediately following the weekend or public holiday.   
January 2017