AustLII Tasmanian Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

LEGAL PROFESSION ACT 2007 - SECT 357

Trust to invest interest

(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



[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]