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Use of money in Fund to fund pro bono services

Legal Profession (Unclaimed Money Fund) Rules 2019

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) For the purposes of section 70J(3)(b) of the Act, the Council may transfer from the Fund the moneys mentioned in section 70J(3)(b)(i) of the Act, any transferred unclaimed client money prescribed under paragraph (2), and any transferred unclaimed intervention money —(a)to any other fund of the Society for the purpose of funding pro bono services provided by the Society; and(b)to the general fund of the Society for the purpose of transferring the money to a wholly-owned subsidiary of the Society to fund pro bono services provided by that subsidiary.(2) The transferred unclaimed client money prescribed for the purposes of section 70J(3)(b)(ii) of the Act is any transferred unclaimed client money —(a)that does not exceed $200; or(b)that was held in a client account immediately before 1 November 2019 and remained so held before being transferred to the Fund, and in respect of which no transaction (other than an excluded transaction) occurred during the period of 6 years immediately before 1 November 2019.

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