SOLICITORS’ TRUST FUNDS

Hawera Star, Volume XLVII, 30 August 1928, Page 4

SOLICITORS’ TRUST FUNDS

The legal profession is to be commended upon -its action in .promoting the Law Practitioners’ Amendment Bill, which yesterday -passed its- second reading in the Legislative Council. 'The object of -this Bill is to -empower-the Law Society to make a,levy .upon its members with a. view to establishing a f-und out of -which the clients of defaulting solicitors may be reimbursed. It -says much for the profession’s high sense -of duty and its probity that it has voluntarily -taken upon itself the responsibility of protecting the .public against the risk of pecuniary loss through the incompetence or dishonesty of the few weaker members of the .profession. The suggestion that lawyers should establish an -insurance fund of their own is not a new 'One. It has been canvassed spasmodically for years, becoming a subject of comment and controversy most often as the aftermath of som-o .breach of professional conduct by a member of the profession, but until very recent times there has not appeared -any hope -of the Law Society attaining unanimity on the principle .involved. A feeling in favour of some such provision as that now proposed by the Society has been growing, though it may be remembered that as late as last June we had occasion to say something very -much to tho point in regard to the arguments of those who opposed the suggestion on the grounds that the whole of an honourable and respected profession should not be called upon to pay for the misdeeds of a. few possible black -sheep. On. that occasion we paid some attention- to the case- made -out by the "Mercantile Gazette” in opposition to the. the suggestion, which was then gaining in force, /that the profession should recognise that some means should be found by which clients* could be indemnified against -the peculations of the occasional dishonest solicitor. It i*s not necessary to repeat the arguments we brought forward -then, for the action of *t*he society in submitting a. proposal of its own for the approval of Parliament, demonstrates that the " Mercantile Gazette” and those who supported it were out; of touch with the views -of the majority of' those within the profession. 'The legislation which -the society now asks* to have placed on the -Statute Book will do more than, any fair words could ever do- -to impress the pu-blie that the profession does indeed seek to maintain a high level of conduct and service in its dealings with its* clients. . i