Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) The Solicitors' Fidelity Fund of the Australian Capital Territory (the fidelity fund ) is established.
Note The Legislation Act, dict, pt 1, defines establish as including continue in existence.
(2) The fidelity fund consists of—
(a) contributions and levies paid under this part; and
(b) income from the investment of money of the fund; and
(c) amounts paid into the fund from a statutory interest account; and
(d) amounts recovered by the law society under this part; and
(e) any other amounts that may lawfully be paid into the fund.
(3) The law society must pay all moneys of the fidelity fund into a separate account for the fund kept at an ADI.
(4) The assets of the fidelity fund, and the accounts in relation to it, must be kept separate from other assets and accounts of the law society.
(5) The costs of exercising the functions of the law society under this part and the costs of enforcing a right given to the law society or the law society council under this part must be paid out of the fidelity fund.
(6) In this section:
"statutory interest account"—see section 253 (Statutory deposits).