AustLII Tasmanian Consolidated Acts

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LEGAL PROFESSION ACT 2007 - SECT 598

Funds of Board

(1)  The Board is authorised to keep such ADI accounts as it considers necessary.
(2)  The funds of the Board are to be paid to the credit of such of its ADI accounts as it determines and are to consist of money received by the Board from any source.
(3)  The funds of the Board are to be applied –
(a) for the purposes of this Act, which include the administration and enforcement of regulations or rules made under this Act; and
(b) in payment or discharge of the expenses, charges and obligations incurred or undertaken by the Board in the performance of its functions or the exercise of its powers; and
(c) in payment of the expenses incurred by the Tribunal in the performance of its functions or the exercise of its powers; and
(d) where considered necessary by the Board, in payment to any person or prescribed authority in connection with any of the person's or prescribed authority's functions under this Act; and
(e) in payment of any remuneration payable by the Board.
(4)  The Board may invest any money that it is holding in any manner in which a trustee is authorised by law to invest funds.



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