(1) In these regulations, unless the context otherwise requires,—
chartered accountant has the same meaning as in section 2 of the New Zealand Institute of Chartered Accountants Act 1996
client, in relation to a practice, includes any person on whose behalf money is, or securities are, held by the practice
client assets means any assets, including money, of a client of a practice that are under the management, whether temporary or permanent, of the practice
contributory security means a security (including a mortgage of land, charge, or other security interest) granted in favour of more than 1 person, each of whom is named, and whose share is specified in the security (and for the purposes of this definition, persons acting jointly must be treated as 1 person)
inspector means a person who is appointed to the inspectorate under regulation 24
inspectorate means 1 of the inspectorates established under these regulations and—
(b) includes a person to whom a function, duty, right, or power has been delegated under regulation 27
lawyers nominee company means a nominee company referred to in section 96(a) of the Act
officer, in relation to the New Zealand Law Society, includes the executive director
partner means a practitioner who is or is held out to be a partner of another practitioner providing regulated services and partnership has a corresponding meaning
practice means and includes a sole practitioner, a partnership, and an incorporated firm
review, in relation to the trust accounts of a practice, has the meaning set out in subclause (2)
trust account records, in relation to a practitioner, means—
(a) all records (including all books, papers, files, accounts, statements, invoices or copies of invoices, documents, receipts and evidence of authority for payments, cheques, securities, and trust receipt forms used and unused) relating to the practitioner's trust accounts or to trust money received by the practitioner, whether kept in writing or on computer or machine or in any other manner; and
trust account supervisor has the meaning set out in regulation 16
trust bank account, in relation to a practice, means any account at a bank in New Zealand—
trust money means all money that is, when received by a practice, subject to the provisions of section 110 of the Act
voting shareholder, in relation to an incorporated firm, means the shareholders referred to in paragraph (c)(i) of the definitions of incorporated conveyancing firm and incorporated law firm in section 6 of the Act.