Legal Profession Act 1966 · 2020 Revised Edition · Part 5B · Unclaimed Money Fund
70K. Transfer of unclaimed client money to Fund
Feedback & supportLast amended by an amending law of 2018.
A solicitor or Singapore law practice may apply to pay into the Fund any money that is held by the solicitor or Singapore law practice for or on account of a client (except any money held in a trust account), if that solicitor or Singapore law practice —
solicitor
“advocate and solicitor”, “advocate” and “solicitor” mean an advocate and solicitor of the Supreme Court;
intends to pay the money to the client; but(b)is unable to do so, despite making such reasonable efforts as the Society may require.
The Society may approve an application made under subsection (1), subject to any conditions imposed by the Society, if the solicitor or Singapore law practice making the application satisfies such requirements as may be prescribed under section 70N for the purposes of this subsection.
Society
“Society” means the Law Society of Singapore established under section 37;
No action to recover any transferred unclaimed client money (or any interest, dividends and other accretions of capital arising from the investment of such money) may be brought, on or after the transfer date of the transferred unclaimed client money, against —
transferred unclaimed client money
“transferred unclaimed client money” means any money paid into the Fund under section 70K;
the Society; or
any wholly-owned subsidiary of the Society to which any money is transferred under section 70J(3)(b).
No action to recover any transferred unclaimed client money (or any interest, dividends and other accretions of capital arising from the investment of such money) may be brought, after the expiry of 6 years after the transfer date of the transferred unclaimed client money, against —
transfer date
“transfer date” means —(a)in relation to any transferred unclaimed client money, the date on which the Society approves an application for the payment of that money into the Fund under section 70K; and(b)in relation to any transferred unclaimed intervention money, the date on which that money is paid into the Fund under paragraph 11(3) of the First Schedule;
the solicitor or Singapore law practice that paid the transferred unclaimed client money into the Fund under subsection (1); or
any solicitor or Singapore law practice that held that money for or on account of a client at any time before that money was paid into the Fund.
To avoid doubt —
subsection (3) does not affect any limitation period that expires before the transfer date; and
subsection (4) does not affect any limitation period that expires before the limitation period under that subsection.
In this section, “client” includes, in addition to any person mentioned in the definition of “client” in section 2(1) —
client
“client” includes —(a)in relation to contentious business — any person who, as a principal or on behalf of another person, retains or employs, or is about to retain or employ, a solicitor, and any person who is or may be liable to pay the costs of a solicitor, law corporation or limited liability law partnership; and(b)in relation to non-contentious business —(i)any person who, as a principal or on behalf of another, or as a trustee, an executor or an administrator, or in any other capacity, has power (express or implied) to retain or employ, and retains or employs or is about to retain or employ, a solicitor, law corporation or limited liability law partnership; and(ii)any person for the time being liable to pay a solicitor, law corporation or limited liability law partnership for his, her or its services any costs;
a person for, or on behalf of, whom is held any money that was transferred, directly or indirectly to a solicitor or Singapore law practice from another solicitor or Singapore law practice; and
the estate or personal representative of a deceased client.