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LEGAL PROFESSION ACT 2006 - SECT 372 Law society council to be notified of territory regulated mortgages

LEGAL PROFESSION ACT 2006 - SECT 372

Law society council to be notified of territory regulated mortgages

    (1)     A solicitor commits an offence if the solicitor—

        (a)     in the solicitor's capacity as solicitor for a lender or contributor, negotiates the making of or acts in relation to a territory regulated mortgage; and

        (b)     fails to give the law society council written notice of that fact in accordance with the regulations or the legal profession rules.

Maximum penalty: 20 penalty units.

    (2)     A contravention of this section can be professional misconduct.