LEGAL PROFESSION ACT 1987 - SECT 116 State regulated mortgage--meaning

This legislation has been repealed.

LEGAL PROFESSION ACT 1987 - SECT 116

116 State regulated mortgage--meaning

For the purposes of this Part, a regulated mortgage is a "State regulated mortgage", in relation to a solicitor, if:

(a) the solicitor's practice is a State regulated mortgage practice, and

(b) the regulated mortgage does not form part of a managed investment scheme or, if it does form part of a managed investment scheme, the managed investment scheme is not required to be operated by a responsible entity under the Corporations Act 2001 of the Commonwealth (as modified by any ASIC exemption or the regulations under the Corporations Act 2001 of the Commonwealth).