47Status and repayment of deposited money

#### 47 Status and repayment of deposited money 47 Status and repayment of deposited money > > (1) Money paid under section 46 into an ADI account maintained by the Law Society— > > > > > (a) is held by the Law Society in trust for the law practice depositing the money, and > > > > > (b) is repayable on demand. > > > (2) Subsection (1) does not excuse a failure to comply with section 46. > > > (3) Until repaid, money deposited under section 46 may be invested by the Law Society— > > > > > (a) in accordance with Division 2 of Part 2 of the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) as if the money were trust funds, or > > > > > (b) on deposit with the Treasurer, or > > > > > (c) in an account with any ADI. > > > (4) All interest on investments made under this section is payable to the Law Society on account of the Public Purpose Fund.