Special Investigating Units and Special Tribunals Act, 1996
R 385
Legal Practice Act, 2014 (Act No. 28 of 2014)Chapter 6 : Legal Practitioners' Fidelity FundPart 1 : Establishment of Fund and founding provisions55. Liability of Fund |
| (1) | The Fund is liable to reimburse persons who suffer pecuniary loss, not exceeding the amount determined by the Minister from time to time by notice in the Gazette, as a result of theft of any money or other property given in trust to a trust account practice in the course of the practice of the attorney or an advocate referred to in section 34(2)(b) as such, if the theft is committed— |
| (a) | by an attorney in that practice or advocate, or any person employed by that practice or supervised by that attorney or advocate; |
| (b) | by an attorney or person acting as executor or administrator in the estate of a deceased person; or |
| (c) | by an attorney or person employed by that attorney who is a trustee in an insolvent estate or in any other similar capacity, |
excluding a curator to a financial institution in terms of the Banks Act, 1990 (Act No. 94 of 1990) or a liquidator of a mutual bank in terms of the Mutual Banks Act, 1993 (Act No. 124 of 1993).
