Legal Practice Act, 2014 (Act No. 28 of 2014)

Chapter 10 : National Forum and Transitional Provisions

Part 3

110. Abolition of Fidelity Funds of former TBVC States and transfer of assets, rights, liabilities and obligations to Legal Practitioners' Fidelity Fund
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(1)For the purposes of this Part, "law society" means a law society referred to in section 56 of the Attorneys Act.

 

(2)The—
(a)Attorneys Fidelity Fund referred to in section 26(1) of the Attorneys, Notaries and Conveyancers Act, 1984 (Act No. 29 of 1984), of the former Republic of Bophuthatswana; and
(b)Attorneys, Notaries and Conveyancers Fidelity Guarantee Fund referred to in section 25 of the Attorneys Act, 1987 (Act No. 42 of 1987), of the former Republic of Venda,

cease to exist on the date referred to in section 120(4) and all assets, rights, liabilities and obligations which, on that date, vested in any of the said Funds, vest from that date in the Fund referred to in section 53(1).