Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Attorneys Act, 1979 (Act No. 53 of 1979)Chapter II : Fidelity Fund43. Contributions to fund by practitioners |
| (1) |
| (a) | Subject to the provisions of this section, every practitioner, practising on his own account or in partnership, shall, annually when he applies for a fidelity fund certificate, pay the amount of R20, or such greater amount as may be fixed by the board of control from time to time, to the fund. |
| (b) | Any practitioner referred to in paragraph (a) who commences to practise on or after 1 July in any year shall in respect of that year pay half of the contribution which is payable in terms of that paragraph for that year. |
| (2) | When the board of control or a society on behalf of the board of control gives notice in writing to any practitioner who is liable to pay a contribution referred to in subsection (1), that the amount of the fund, including the investments thereof, and after deduction of the amount of all unpaid claims and other liabilities outstanding against the fund, is R1 000 000, or exceeds that amount, such practitioner shall, subject to the provisions of subsection (3), as from a date determined by the board of control and specified in such notice, no longer be required to pay the annual contribution referred to in subsection (1). |
| (3) | When the board of control or a society on behalf of the board of control gives notice in writing to a practitioner referred to in subsection (2) that the amount of the fund, including the investments thereof, and after deduction of the amount of all unpaid claims and other liabilities outstanding against the fund, is less than R1 000 000, the provisions of subsection (1) shall, as from a date determined by the board of control and specified in such notice, again apply in respect of such practitioner, and any notice referred to in subsection (2) shall lapse. |
| (4) | A practitioner who applies under section 42 for the first time for a fidelity fund certificate while the provisions of subsection (1) do not apply to a practitioner referred to in subsection (2) by virtue of the provisions of the latter subsection, shall pay a single contribution of R50 to the fund: Provided that the provisions of subsection (3) shall apply mutatis mutandis in respect of such practitioner. |
| (5) | Notwithstanding the provisions of subsection (2), the board of control may require a practitioner in respect of whom the fund has been applied as a result of any of the circumstances referred to in section 26, to pay the annual contribution referred to in subsection (1) to the fund for such period as the board of control may determine. |
| (6) |
| (a) | A practitioner who is not in possession of a fidelity fund certificate and who intends to commence to practise on his or her own account or in partnership, shall, before commencing so to practise, give notice of such intention to the secretary of the society having jurisdiction in the area in which he or she intends to practise, and he or she shall thereupon become liable to pay to the fund the amount of the contribution referred to in subsections (1) or (4). |
[Section 43(a) amended by section 18 of Act No. 40 of 2014]
| (b) | Any practitioner who is in possession of a fidelity fund certificate but who intends to commence to practise on his or her own account or in partnership in the area of jurisdiction of any law society other than that in which he or she usually practises on his or own account or in partnership, shall give notice of such intention to the secretary of the other society concerned. |
[Section 43(b) amended by section 18 of Act No. 40 of 2014]
| (7) | All contributions payable under this section shall be paid to the society, and every society shall remit the contributions to the board of control within seven days of receipt thereof. |
[Section 43 amended by section 15 of Act No. 55 of 2002]
