New South Wales Consolidated Acts

LEGAL PROFESSION UNIFORM LAW APPLICATION ACT 2014 - SECT 118

118 Payments from Fidelity Fund

There is to be paid from the Fidelity Fund in such order as the Law Society Council decides--

(a) premiums for insurance of the Fidelity Fund, and

(b) legal expenses incurred in investigating or defending claims made against the Fidelity Fund, or against the Law Society in relation to the Fidelity Fund, or otherwise incurred in relation to the Fidelity Fund, and

(c) the amount of a claim (including interest and costs) allowed or established against the Law Society in respect of the Fidelity Fund, and

(d) the expenses of administering the Fidelity Fund, including allowances and travelling expenses for members of the Law Society Council and the Fidelity Fund Management Committee in connection with the exercise of their functions in relation to the Fidelity Fund, and

(e) the costs of the Law Society Council in exercising its function under section 31, and

(f) any other money payable from the Fidelity Fund under this Part or in respect of amounts paid or payable for the purposes of Chapter 6 (External intervention) of the Legal Profession Uniform Law (NSW) or under rules or regulations made under this Act.

Note : Section 240(1) of the Legal Profession Uniform Law (NSW) provides that the fidelity authority (which is the Law Society Council) must ensure that claims against the Fidelity Fund are determined independently, at arm's length from the legal profession.