Proposed amendments to Legal Profession Act aim to help LFBC protect revenue stream
The British Columbia government has introduced legislation to amend the Legal Profession Act to improve financial stability for access to justice programs across the province, the Ministry of Attorney General announced.
Bill 9 proposed amendments to the Legal Profession Act to authorize the board of governors of the Law Foundation of British Columbia to approve interest rates and service charges on lawyers’ pooled trust accounts. These amendments would establish requirements like those currently in place in Ontario if passed.
“The proposed amendments would assist in enabling the Law Foundation to protect its revenue stream over time and allow it to continue to fund law-related good works as required by its mandate,” the ministry said.
The LFBC earns revenue primarily through interest earned on lawyers’ pooled trust accounts maintained in financial institutions. This interest goes toward funding programs and services, such as legal education, legal research, legal aid, law reform, and law libraries.
Meanwhile, the LFBC expressed its support for adopting the proposed amendments, noting that they would promote “certainty and reliability” for the funding that it distributes to various non-profit organizations to advance access to justice programs in various communities throughout the province.
“This is a good thing for people throughout B.C., particularly for those who are unable to afford representation in dealings with the justice system,” Law Foundation Chair Lindsay LeBlanc said. “This benefits the collective good by providing more financial certainty for organizations providing vital free or low-cost services across the province.”
