(1) The prescribed authority must pay to the Trust any payment or interest paid to it by an ADI under section 355 within 7 days after the end of the month in which the payment or interest was received.(2) The Trust must pay any payment or interest received by it under subsection (1) into a trust deposit account.(3) The Trust must apply any payment or interest received by it under subsection (1) as provided in section 637 (Application of funds in trust deposit accounts).(4) A person who has a claim on a trust account held by a law practice is not entitled to (a) any payment or interest made by an ADI under section 355 ; or(b) any interest accruing on any such payment or interest.
Division 3 - Solicitors' Guarantee Fund