Legal Profession Act 1966 · 2020 Revised Edition · Part 5B · Unclaimed Money Fund
70L. Application for payment of transferred unclaimed client money
Feedback & supportLast amended by an amending law of 2018.
Despite section 70K(3), at any time within 6 years after the transfer date of any transferred unclaimed client money, any claimant may apply to the Society for the payment of the whole or part of the amount of that money that the claimant claims to be entitled to, or to be authorised to receive.
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;
On an application under subsection (1), the Society must pay the relevant amount to the claimant from the Fund if such requirements, as may be prescribed by rules made under section 70N for the purposes of this subsection, are satisfied.
Society
“Society” means the Law Society of Singapore established under section 37;
Subject to subsection (6), the relevant amount mentioned in subsection (2) is —
the amount of any money paid into the Fund under section 70K that a solicitor or Singapore law practice is required, under a court order, to pay the claimant; or
the amount declared in a statutory declaration (made by any solicitor, or by a solicitor on behalf of any Singapore law practice, mentioned in subsection (4)(b)) to be the amount of any money paid into the Fund under section 70K that the claimant is entitled to or is authorised to receive.
A payment to a claimant under subsection (2) discharges the following from liability to the claimant for the amount paid:
claimant
“claimant” means any person who claims to be entitled to, or to be authorised to receive, any transferred unclaimed client money;
the Society;
any solicitor or Singapore law practice that —
paid the transferred unclaimed client money, which the claimant claims to be entitled to, or to be authorised to receive, into the Fund; or
held the money mentioned in sub‑paragraph (i) at any time before that money was paid into the Fund.
Despite section 70K(3) and subsection (1), if any claimant applies to the Society, after the expiry of 6 years after the transfer date of any transferred unclaimed client money, for the payment of any amount of that money that the claimant claims to be entitled to, or to be authorised to receive, the Society may pay the whole or any part of that amount to the claimant from the Fund.
transferred unclaimed client money
“transferred unclaimed client money” means any money paid into the Fund under section 70K;
No interest is payable on any transferred unclaimed client money by the Society to any claimant under this section.