Payment form the Fund on cessation of practice

Payment form the Fund on cessation of practice.-(1) A member of the Fund shall, on cessation of practice, be entitled to receive out of the Fund an amount at the rate specified in the Schedule.

1. (2) In the event of death of a member, the amount shall b e paid to his nominee or, where is no nominee, to his legal heirs
2. (3) A member of the Fund may opt for retirement benefits at any time after years of his admission as a member of the Fund, but he shall be eligible for re-admission to the Fund as a new member subject to such condition as may be prescribed.
3. (4) For calculating the period of completed years of practice for the purpose of payment under this Act, every four years of practice at the Bar, if any, before the admission of a member to the Fund shall be computed as one year of practice and added on to the number of practice after such admission
4. (5) In the case of a member who dies or suffers permanent disablement the member or his nominee or legal heir, as the case may be, shall be entitled to get a minimum sum of Rs 5,000/-.
5. (4) An application for payment form the Fund shall be preferred to the Trustee Committee in such form as may be prescribed.
6. (5) An application received under Sub-section (6), shall be disposed of by the Trustee Committee after such enquiry as it deems necessary. Provided that any person who takes up any job or employment after suspension of practice within ten years shall not be entitled to any of the benefits under the Act except the amount deposited by him under the scheme with interest.