Legal Profession Uniform Law Application Act 2014
50Management and control of Fund
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50 Management and control of Fund
50 Management and control of Fund
(1) The Trustees are to manage and control the Public Purpose Fund.
(2) The Trustees may invest any amount standing to the credit of the Fund in accordance with Division 2 of Part 2 of the Trustee Act 1925 as if the money were trust funds.
(3) The Trustees may enter into any agreement or arrangement with a person or body under which—
(a) the person or body provides the Trustees with advice concerning the investment of any amount standing to the credit of the Fund, or
(b) the person or body agrees to invest any such amount on behalf of the Trustees.
(4) The Law Society is to administer the Fund on behalf of, and in accordance with the directions of, the Trustees.