Attorneys Act, 1979 (Act No. 53 of 1979)Chapter II : Fidelity Fund47A. Transitional provisions relating to liability of fund for investments |
The fund is not liable for loss of money caused by theft committed by a practitioner, candidate attorney, employee or agent of a practitioner where the money is invested or should have been invested on instructions given before the date contemplated in section 47(1)(g) and where—
| (a) | the money is to be repaid, at any time after that date, to the beneficiary specified in any agreement whether with the borrower or practitioner; |
| (b) | the theft is committed at any time after the expiration of 90 days after the investment matures or after the expiration of 90 days after the date contemplated in section 47(1)(g); |
| (c) | repayment is subject to the lender making a demand or is subject to the occurrence of an impossible or uncertain event; or |
| (d) | the repayment date is not fixed. |
[Section 47A inserted by section 2 of Act No. 115 of 1998]