Legal Assistance Act Amendment Act 1981 (Qld)

588 (uPExt h utb ANNO TRICESIMO ELIZABETITAE SECUNDAE REGINAE No. 71 of 1981 An Act to amend the Legal Assistance Act 1965-1979 in certain particulars [ASSENTED TO 7TH OCTOBER, 1981]

Legal Assistance Act Amendment Act 1981, No. 71 589 BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled , and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Legal Assistance Act Amendment Act 1981. (2) In this Act, the Legal Assistance Act 1965-1979 is referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Legal Assistance Act 1965-1981. 2. Amendment of s. 10. Solicitors Trust Bank Accounts , &c. Section 10 of the Principal Act is amended by- (a) in subsection ( 1) inserting immediately after the definition of the term " Balance " the following definition:- "bank "-a bank carrying on business under the authority of an Act of the Commonwealth or of any State;"; (b) omitting subsection (4) and substituting the following subsection:- " (4) Pending repayment under subsection (3), moneys deposited by a solicitor with the Society pursuant to this section shall be invested by the Society- (a) in securities of or guaranteed by the Government of the Commonwealth or the State; (b) with or on deposit with a bank or in securities of, guaranteed by, or accepted by a bank; (c) with any authorised dealer in the short term money market with established lines of credit with the Reserve Bank of 'Australia as a lender of last resort; or (d) in such other securities as are approved by the Governor in Council on the recommendation of the Treasurer.". (c) in subsection (5) omitting the second paragraph and substituting the following paragraph:- In this subsection the expression " the prescribed amount " means S3 000 000 on and after the date of commencement of the Legal Assistance Act Amendment Act 1981.".