LEGAL PRACTITIONERS ACT 1981 - SECT 57
LEGAL PRACTITIONERS ACT 1981 - SECT 57
(1) The Society must
continue to maintain the Legal Practitioners Fidelity Fund (formerly known as
the legal practitioners' guarantee fund).
(2) The Society may
from time to time invest any of the money constituting, or forming part of,
the Fidelity Fund in any manner in which trustees are authorised by statute to
invest trust funds, and may advance, on such terms and conditions as
the Society thinks fit, money from the Fidelity Fund to
the statutory interest account.
(3) The Fidelity Fund
consists of—
(a) the
money paid into it from the statutory interest account; and
(b) all
money recovered by the Society under Part 5; and
(c) the
money credited by the Society to the Fidelity Fund under section 95; and
(d)
costs recovered by the Attorney-General, the Commissioner or the Society in
disciplinary proceedings against legal practitioners, former legal
practitioners, Australian-registered foreign lawyers or former
Australian-registered foreign lawyers; and
(da) any
fee paid to the Commissioner; and
(e) any
money that the Society thinks fit to include in the Fidelity Fund; and
(f) the
income and accretions arising from the investment of the money constituting
the Fidelity Fund.
(4) Subject to
subsection (5), money in the Fidelity Fund may be applied for any of the
following purposes:
(a)
meeting any expenses incurred by LPEAC or members of LPEAC in exercising
functions and powers under this Act;
(b)
meeting any expenses incurred by the Board of Examiners or members of the
Board of Examiners in exercising functions and powers under this Act;
(c)
meeting any expenses incurred by the Tribunal or members of the Tribunal in
exercising functions and powers under this Act;
(d)
meeting any expenses incurred by the Commissioner in exercising the
Commissioner's functions and powers under this Act;
(e) the
costs incurred by the Society in appointing a legal practitioner to appear in
proceedings in which a person seeks admission as a legal practitioner;
(f) the
costs of investigating complaints under this Act and of disciplinary
proceedings under this Act;
(g) the
costs of conducting an audit or bringing proceedings under Schedule 1;
(h) the
costs of proceedings instituted by the Commissioner for the adjudication of
legal costs;
(i)
the costs of prosecutions for offences against this Act;
(j)
costs consequent on the appointment of a supervisor or manager under this Act;
(k) the
costs of an investigation or examination under Schedule 2 Part 3;
(l) the
payment of honoraria, approved by the Attorney-General, to members of LPEAC
and the Tribunal;
(la) the
payment of the salaries and related expenses of the Commissioner and his or
her staff;
(m) the
legal costs payable by any person in relation to any action arising from an
honest act or omission in the exercise or purported exercise of powers or
functions under Schedule 2 or 4 or by the Commissioner or delegated by
the Commissioner;
(n) the
payment of money towards the costs of an arrangement under Part 3 Division 13
to the extent that those costs are, in accordance with the terms of the scheme
and with the approval of the Attorney-General, to be paid from the
Fidelity Fund;
(o) the
costs of processing claims under Part 5 and of paying out those claims to the
extent authorised by that Part;
(p)
defraying any management fee or other expenditure relating to the management
or administration of the Fidelity Fund;
(q)
educational or publishing programs conducted for the benefit of legal
practitioners or members of the public.
(5) No payment may be
made from the Fidelity Fund except with the authorisation of the
Attorney-General.
(6) The
Attorney-General may, before authorising a payment from the Fidelity Fund,
require the Society, the Tribunal, the Commissioner or any person engaged in
the administration of this Act to provide such information and explanations as
to the reason for the proposed payment as the Attorney-General may reasonably
require.