247   Protocols for determining where trust money is received

(1)  The Law Society Council may enter into arrangements (referred to in this Part as protocols) with corresponding authorities about any or all of the following:

(a)  determining the jurisdiction where a law practice receives trust money,

(b)  sharing information about whether, and (if so) how, trust money is being dealt with under this Act or a corresponding law.

(2)  For the purposes of this Act, to the extent that the protocols are relevant, the jurisdiction where a law practice receives trust money is to be determined in accordance with the protocols.

(3)  The Law Society Council may enter into arrangements that amend, revoke or replace a protocol.

(4)  A protocol does not have effect in this jurisdiction unless it is embodied or identified in the regulations.