South Australian Consolidated Acts South Australian Consolidated Acts57A—Payment of interest accruing on trust accounts
(1) Interest accruing
on a trust account (other than a separate trust account maintained by a legal
practitioner for the exclusive benefit of a particular client) must be paid by
the ADI concerned to the Society.
(2) Subject to
subsection (3), the Society must deal with money received by it pursuant
to subsection (1) as follows:
(a) 50
per cent of the money must be paid to one or more of the Legal Services
Commission or one or more community legal centres in such shares and subject
to such conditions as the Attorney-General directs; and
(b) 40
per cent of the money must be paid to the guarantee fund; and
(c) 10
per cent of the money must be paid to a person nominated by the
Attorney-General subject to such conditions as the Attorney-General directs.
(3) The
Attorney-General may, from time to time, vary or revoke the conditions subject
to which money is paid under subsection (2) and may, from time to time,
with the approval of the Society, vary the portion of the money allocated for
payment pursuant to each paragraph of that subsection.
(4) The
Attorney-General may, from time to time, without the approval of the Society,
vary the shares in which money allocated for payment pursuant to
subsection (2)(a) is distributed under that paragraph.
(5) Money paid to a
person pursuant to subsection (2)(c) must be applied in, or in relation
to, the provision of legal services to the community, or to a section of the
community, or must be applied for the purposes of legal research and
education.