LawSociety takes all your money from interest

There is an abuse of power where LawSociety takes all money earned from interest from your money that is kept in trust account under solicitor's name.

Legal Profession Uniform Law Application Act 2014 (NSW) Key provision

The fund is specifically created in:

   Part 7 – Public Purpose Fund

   Section 194 – Establishment of Public Purpose Fund

Section 194 states that the Public Purpose Fund is established and is to be administered by trustees appointed under the Act. Related provisions

The same Act also provides for:

   Section 195–196 – appointment and functions of the Public Purpose Fund Trustees

   Section 197–198 – what the fund can be used for (e.g., regulatory functions, consumer protection, fidelity fund support, legal assistance purposes)

   Section 46–47 – interest from solicitors’ general trust accounts being paid to the Law Society for credit to the fund.