LEGAL PROFESSION ACT 2006 - SECT 253 Statutory deposits

LEGAL PROFESSION ACT 2006 - SECT 253

    (1)     A regulation may require the following:

        (a)     a law practice to pay amounts out of a general trust account of the practice into an ADI account kept by the law society (a  statutory deposit account );

        (b)     the law society to pay interest on money in a statutory deposit account into another ADI account kept by the law society (a  statutory interest account ).

    (2)     A regulation may make provision in relation to the following:

        (a)     the type of account to be kept by the law society;

        (b)     payments to be made to the account;

        (c)     the use of money in the account;

        (d)     for a statutory interest account—the person entitled to interest on the money in the account.

    (3)     For subsection (2) (d), a regulation may require the ADI to pay interest to the law society.

    (4)     Subject to any regulation made under subsection (2) (c) or (d), the law society may, with the Attorney-General's written consent given either generally or in a particular case, use money in a statutory interest account—

        (a)     to supplement from time to time the fidelity fund; and

        (b)     to assist in the conduct of a scheme for the provision of legal aid and to provide funds to the legal aid commission; and

        (c)     to pay or reimburse the amount of any costs and disbursements incurred by the law society council or bar council in relation to—

              (i)     an investigation or proceeding under chapter 4 (including deciding whether an investigation should be made or a proceeding should be started); or

              (ii)     any other proceeding taken in the Supreme Court in relation to a legal practitioner or an unqualified person practising as a legal practitioner (including deciding whether such a proceeding should be started); and

        (d)     to pay or reimburse the amount of any costs and disbursements incurred by the law society council or bar council in relation to—

              (i)     making an objection to an application for admission (including deciding whether an objection should be made); or

              (ii)     assisting the Supreme Court in relation to an application for admission; and

        (e)     to assist the law society council or bar council to facilitate a mediation under part 4.3; and

        (f)     to assist in the conduct and maintenance of a course of training for the practice of law; and

        (g)     to pay the amount of any costs incurred by the law society in administering amounts deposited with the law society under this part; and

        (h)     to meet the costs of administering the account.

    (5)     Subject to any regulation made under subsection (2) (c) or (d), the law society must, in accordance with the Attorney-General's written request, pay an amount from the account to the ACAT trust account.

    (6)     This section applies despite any other provision of this part.