BU has been able to access the audited financial report of the Bar Association (BA) relative to the Compensation Fund. BU notes that the fund holds in excess of $2 million. The authority for the Fund is to be found at Part VIII of the Legal Professions Act Cap. 370A of the Laws of Barbados.
Briefly, the Act states:
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The Fund is the property of the BA and must be paid into a separate bank account to the credit of the BA to be known as “the Attorneys-at-law Compensation Fund”.
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Every attorney-at-law is required, when a Practicing Certificate is issued to him, to pay to the Registrar his/her annual contribution to the Fund, without which no Practicing Certificate will be issued.
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“50. (1) Where it is proved to the satisfaction of the Bar Association that any person has sustained loss in consequence of dishonesty on the part of an attorney-at-law or any clerk or servant of an attorney-at-law in connection with that attorney-at-law’s practice as an attorney-at-law or in connection with any trust of which that attorney-at-law is a trustee, then, subject to the provisions of this section, the Association may, if it thinks fit, make a grant to that person out of the Fund for the purpose of relieving or mitigating that loss.”
A few points to ponder from the reading of the posted financials.


































