Victorian Current Acts Victorian Current Acts(1) This section applies if—
(a) an Australian legal practitioner who, in the opinion of the Victorian Legal Services Board, has committed a default, becomes an insolvent under administration; or
(b) an incorporated legal practice that, in the opinion of the Victorian Legal Services Board, has committed a default, becomes an externally-administered body corporate within the meaning of the Corporations Act.
(2) The Victorian Legal Services Board may pay out of the fidelity fund to the trustee in bankruptcy, trustee or liquidator (as the case requires) any amount or amounts for the purpose of enabling legal proceedings to be commenced or defended by the trustee in bankruptcy, trustee or liquidator.
(3) A payment made under subsection (2) may be made subject to any terms and conditions that the Victorian Legal Services Board thinks fit.