Section 80 — AKTA PROFESION UNDANG-UNDANG 1976

(2)

Every advocate and solicitor shall on each occasion he applies for a Sijil Annual pay to the Malaysian Bar a contribution of such sum as the Bar Council may from time to time determine and the Malaysian

Bar shall pay that contribution into the Fund:

Provided that an advocate and solicitor who applies for a Sijil Annual shall be required to pay only half the contribution so determined if the practising certificate for which he proposes to apply is valid for less than six months.

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(3)

The Malaysian Bar may invest any moneys out of the Fund which are not immediately required for any other purposes and, for the purposes of this section, the Malaysian Bar shall have all the powers of trustees under any written law.

(4)

The Malaysian Bar may for the purposes of the Fund borrow from any lender and may charge any investments of the Fund by way of security for such loan.

(4A)

The Bar Council may, for such of the purposes of the

Malaysian Bar as the Bar Council deems fit, borrow moneys from the

Fund and shall, in respect of any money so borrowed, pay to the Fund interest at the prime rate laid down by the Association of Banks in

Malaysia, prevailing from time to time.

(5)

The Malaysian Bar may insure the Fund with any registered insurance business in Malaysia for any purpose and on any terms as the Malaysian Bar may consider expedient.

(6)

There shall be carried to the credit of the Fund—

(a)

all annual contributions paid to the Malaysian Bar in pursuance of subsection (2);

(b)

all interests, dividends and other income or accretions of capital arising from the investments of the Fund;

(c)

the proceeds of any realization of any investments of the

Fund;

(d)

all moneys borrowed for the purposes of the Fund;

(e)

all sums received by the Malaysian Bar under any insurance effected by the Malaysian Bar under subsection (5); and

(f)

any other moneys which may belong or accrue to the Fund or be received by the Bar Council in respect of the Fund.

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(7)

All moneys from time to time forming part of the Fund and all investments of the Fund shall be applicable—

(a)

for payment of any costs, charges and expenses of establishing, maintaining and administering the Fund;

(b)

for payment of any costs, charges and expenses of the Bar

Council in ascertaining whether the rules made under section 78 have been complied with, pursuant to the powers given by such rules;

(c)

for payment of any premiums on insurance effected by the

Malaysian Bar under subsection (5);

(d)

for repayment of any moneys borrowed by the Malaysian

Bar and for payment of interest on any moneys so borrowed;

(e)

for payment of any grants which the Malaysian Bar may make under subsection (8); and

(f)

for payment of any other sums payable out of the Fund by virtue of this section.

(8)

Where it is proved to the satisfaction of the Bar Council that any person has sustained loss in consequence of dishonesty on the part of any advocate and solicitor or any clerk or servant of an advocate and solicitor in connection with that advocate and solicitor’s practice in

Malaysia as an advocate and solicitor, or in connection with any trust of which that advocate and solicitor is a trustee, then subject to this section, the Malaysian Bar may, if the Bar Council thinks fair and reasonable, makes a grant to that person out of the Fund for the purpose of relieving or mitigating that loss.

(8A)

If in any year there has been neither an application made for a grant from the Fund nor a grant made from the Fund, the Bar Council may in its discretion transfer from the Fund all interests, dividends and other accretions of capital arising from the Fund, or any part thereof, to a Fund of the Malaysian Bar established for the purposes of purchasing or maintaining a library for the use of members of the

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Malaysian Bar and to a fund established for the purpose of providing legal aid.

(9)

A grant may be made under this section whether or not the advocate and solicitor had a valid practising certificate when the act of dishonesty was committed, and notwithstanding that subsequent to the commission of the act the advocate and solicitor has died or had his name removed from or struck off the Roll or has ceased to practise or been suspended from practice.

(10)

On any grant made by the Malaysian Bar under this section to any person in respect of any loss—

(a)

the Malaysian Bar shall to the extent of the amount of the grant be subrogated to all such rights and remedies as the person to whom the grant is made may have against the advocate and solicitor, clerk or servant in respect of the loss;

(b)

the person to whom the grant is made shall have no right by way of bankruptcy or other legal proceedings or otherwise to receive any sum out of the assets of the advocate and solicitor, clerk or servant in respect of the loss until the Fund has been reimbursed with the full amount of the grant.

(11)

Reference in paragraphs (10)(a) and (b) to the person to whom the grant is made or to the advocate and solicitor, clerk or servant shall include, in the event of this death, insolvency or other disability, reference to his personal representatives or any other person having authority to administer his estate.

(12)

The Bar Council may make rules in respect of the procedure to be followed in giving effect to this section and in respect of any matters incidental, ancillary or supplemental thereto or concerning the administration or protection of the Fund.

(13)

The income derived from the Compensation Fund shall be exempted from income and all other taxes, and the Fund shall be an institution approved for the purposes of section 45 of the Income Tax

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Act 1967 [Act 53] payments to which shall be good deductions for income tax purposes in arriving at the aggregate income of the person making the payment for the relevant year.

Advocate and solicitor shall not act as commissioner or notary without certificate