Western Australian Current Acts

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LEGAL PROFESSION UNIFORM LAW APPLICATION ACT 2022 - SECT 200

200 .         Trust account arrangements to pay no more than 51% of interest to Legal Contribution Trust

        (1)         The Legal Contribution Trust must not enter into an arrangement (a trust account arrangement ) with an ADI under the Legal Profession Uniform Law (WA) section 149(1)(b) for the payment of interest on the whole or any part of deposits in trust accounts to the Trust that provides for more than 51% of the interest on deposits in a trust account to be paid to the Trust.

        (2)         A trust account arrangement that provides for more than 51% of the interest on deposits in a trust account to be paid to the Legal Contribution Trust in contravention of subsection (1) is taken to require the payment of only 51% of the interest.

        Note for this section:

                Part 12 provides for the payment of the remainder of the interest earned on deposits in trust accounts.



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