South Australian Current Acts South Australian Current Acts57A—Payment of interest accruing on trust accounts
(1) Interest accruing
on a trust account (other than a separate trust account maintained by a legal
practitioner for the exclusive benefit of a particular client) must be paid by
the ADI concerned to the Society.
(2) The Society must
deal with money received by it pursuant to subsection (1) as follows:
(a) 50%
of the money must be paid to one or more of the Legal Services Commission or
one or more community legal centres in such shares and subject to such
conditions as the Attorney-General directs; and
(b) 40%
of the money must be paid to the Fidelity Fund; and
(c) 10%
of the money must be paid to the Law Foundation of South Australia
Incorporated subject to such conditions as the Attorney-General directs.
(3) The
Attorney-General may, from time to time, vary or revoke the conditions subject
to which money is paid under subsection (2).
(4) The
Attorney-General may, from time to time, without the approval of the Society,
vary the shares in which money allocated for payment pursuant to
subsection (2)(a) is distributed under that paragraph.
(5) At least 50% of
the money paid to the Law Foundation of South Australia Incorporated pursuant
to subsection (2)(c) must be applied in, or in relation to, the provision
of legal services to the community.