Legal Practitioners (Amendment) Act (No 2) 1983 (ACT)

1. AUSTRALIAN CAPITAL TERRITORY

Legal Practitioners (Amendment)

Ordinance (No. 2) 1983

No. 62 of 1983

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Ordinance under the Seat of Government (Administration) Act 1910.

Dated 21 December 1983.

N. M. STEPHEN Governor-General

By His Excellency's Command,

GARETH EVANS

Attorney-General

An Ordinance to amend the Legal Practitioners Ordinance 1970

Short title

1. This Ordinance may be cited as the Legal Practitioners (Amendment)

Ordinance (No. 2) 1983.'

Commencement

2. This Ordinance shall be deemed to have come into operation on 1

August 1983.

Principal Ordinance

of moneys held in any trust bank account maintained by a solicitor at that bank.

3. In this Ordinance, "Principal Ordinance" means the Legal Practitioners

Ordinance 1970?

Investment of deposits and Statutory Interest Account

4. Section 74A of the Principal Ordinance is amended by omitting

sub-sections (5) and (6).

5. After section 74A of the Principal Ordinance the following sections are

inserted in Part VII:

Arrangement relating to trust bank account

"74B. (1) The Law Society may enter into an arrangement with a bank in

the Territory for payment by the bank to the Law Society of amounts in respect

Legal Practitioners (Amendment) (No. 2) No. 62, 1983 349

"(2) The Law Society shall credit an amount paid to it pursuant to an arrangement of a kind referred to in sub-section (1) to an account referred to in sub-section 74A (2).

Audit of deposits, &c.

"74C. (1) The Law Society shall cause records to be kept showing

particulars of—

(a)	moneys deposited with it in accordance with this Division;
(b)	interest received by it from the investment of those moneys;
(c)	amounts credited to an account in pursuance of sub-section 74B (2);
(d)	payments made by it out of moneys referred to in paragraph (a); and
(e)	the use of moneys standing to the credit of an account referred to in sub-section 74A (2),

and shall cause those records to be audited annually by a person who is a

registered company auditor within the meaning of the Companies Act 1981.

"(2) The Law Society shall forward a copy of each audit under this section

to the Attorney-General.".

NOTES

1.    Notified in the Commonwealth of Australia Gazette on 30 December 1983.

2.    No. 43, 1970 as amended to date. For previous amendments see Note 2 to No. 61, 1983 and see also No. 61, 1983.