New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) Every practitioner in a practice to which section 112(1) of the Act applies must, before commencing practice on his or her own account, complete a course of training, and pass an examination in trust accounting, prescribed by and to a standard set by the relevant society.
(2) Every practitioner who has not previously completed a course of training in accordance with Schedule 1 or 2 of these regulations or Appendix A or B of the Solicitors' Trust Account Rules 1996 must complete a course of training, and pass examinations and assessments, in accordance with Schedule 1 of these regulations and otherwise as prescribed—
(a) during the 3 years immediately before taking up the position of trust account supervisor for the first time; or
(b) if acting as a trust account supervisor under an exemption under regulation 20(2) or (4) and intending to act as such after the date on which that exemption ends, before that date.
(3) Every practitioner who has previously completed a course of training in accordance with Schedule 1 or 2 of these regulations or Appendix A or B of the Solicitors' Trust Account Rules 1996 must complete the course prescribed in Schedule 2 of these regulations,—
(a) if more than 3 years have elapsed between completing the course and taking up the position of trust account supervisor for the first time; or
(b) if more than 10 years have elapsed since that practitioner has acted as a trust account supervisor.
(4) This regulation is subject to regulation 20.