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LEGAL PROFESSION ACT 2006 - SECT 378 Claims against fidelity fund relating to managed investment schemes connected with

LEGAL PROFESSION ACT 2006 - SECT 378

Claims against fidelity fund relating to managed investment schemes connected with solicitors

    (1)     This section applies to a person who entrusts money to a solicitor to be invested in a managed investment scheme operated by a responsible entity if the solicitor has a relevant interest in the scheme.

    (2)     The person is not entitled to make a claim against the fidelity fund to obtain compensation for any financial loss arising from that investment if the solicitor gave notice to the person in accordance with section 377 (2) and (3) (Involvement of solicitors in managed investment schemes).

    (3)     In this section:

"relevant interest"—see section 377 (7).