Legal Practice Act, 2014 (Act No. 28 of 2014)Chapter 6 : Legal Practitioners' Fidelity FundPart 1 : Establishment of Fund and founding provisions57. Purpose and application of Fund |
| (a) | Meeting the liability of the Fund referred to in section 55; |
| (b) | paying expenses incurred in operating the Board and the Fund, including the payment of remuneration or allowances and other service benefits to employees; |
| (c) | paying expenses incurred by the Board in investigating and establishing the validity of claims contemplated in section 55; |
| (d) | paying all expenses and legal costs incurred by the Board for the purpose of recovering money from the persons whose wrongful conduct gave rise to the claim; |
| (e) | refunding the costs or any portion thereof incurred by a claimant in establishing a claim or attempting to recover the whole or a portion of the claim from the person whose wrongful conduct gave rise to the claim; |
| (f) | paying legal expenses incurred in defending a claim made against the Fund, or otherwise incurred in relation to the Fund; |
| (g) | paying premiums in respect of contracts of insurance entered into in terms of sections 76 and 77; |
| (h) | paying allowances to members of the Board in relation to their services or their reasonable travelling and accommodation expenses incurred in relation to the affairs of the Board and the Fund to be determined in consultation with the Council; |
| (i) | paying fees and expenses to the Council or its structures in respect of any function performed as agents for the Fund; |
| (j) | making an annual appropriation to the Council in terms of section 22(1)(b); |
| (k) | paying costs relating to the detection or prevention of theft of trust money; and |
| (l) | paying interest in relation to section 55. |
| (2) | Subject to the provisions of this Act, the Fund may be utilised for the following purposes: |
| (a) | refunding the bank charges or any portion thereof paid by any attorney or an advocate referred to in section 34(2)(b) in relation to the keeping of a trust account referred to in section 86(2) and (3); |
| (b) | paying expenses relating to any function performed in terms of this Act; |
| (c) | paying the audit and inspection costs or a portion thereof incurred by an attorney or advocate in relation to the obtaining of a Fidelity Fund certificate; and |
| (d) | paying bursaries and loans to students, candidate legal practitioners and legal practitioners for the purposes of legal education and research. |