Legal Profession Act 1966 · 2020 Revised Edition · Part 5B · Unclaimed Money Fund
70M. Application of law
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Money may be paid into the Fund under section 70K(1) or paragraph 11(3) of the First Schedule, despite any rules made under section 73D of the Conveyancing and Law of Property Act 1886.
Fund
“Fund” means the Unclaimed Money Fund maintained and administered by the Society under section 70J;
No breach of trust or other legal liability arises by virtue only of the payment into the Fund of any transferred unclaimed client money or transferred unclaimed intervention money, or the investment or use of money that forms part of the Fund, in accordance with this Part or paragraph 11 of the First Schedule.
transferred unclaimed client money
“transferred unclaimed client money” means any money paid into the Fund under section 70K;
To avoid doubt, this Part and paragraph 11 of the First Schedule do not affect any right to any money that has accrued to the Government on the death of a person who dies intestate without next of kin, before the transfer date of that money.
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;