Lawyers and Conveyancers Act 2006

Fidelity Funds

323: Advances from fidelity fund for purposes of this Part

You could also call this:

"Getting money from a special fund to fix lawyer trust account problems"

Illustration for Lawyers and Conveyancers Act 2006

You can get money from a fidelity fund to fix problems with a lawyer's trust account. A regulatory society can decide to give you this money if a lawyer's account is short of money or if a client needs to be paid back. The society can also use the money to protect the fund or make sure the rules in this part of the law are followed.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM367804.

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"No compensation for investment losses with lawyers or conveyancers"


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324: Claims against fidelity fund, or

"What to do if a lawyer does something wrong and you want to claim money back"

Part 10Fidelity Funds

323Advances from fidelity fund for purposes of this Part

  1. Without limiting the generality of sections 311(1)(e) and 320 to 322, a regulatory society may, from time to time, in its discretion, for the purpose of meeting any deficit in a practitioner's trust account, or reimbursing any client of the practitioner, or protecting the fund, or otherwise for the purpose of giving full effect to the intent of this Part, make advances from the fidelity fund held by it under this Part to any person or persons, on and subject to such terms and conditions, whether as to the method of repayment or the payment of interest or the giving of any securities, as it thinks fit.

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