LEGAL PROFESSION ACT 1987 - SECT 118 Nomination of practice as State regulated mortgage practice

This legislation has been repealed.

LEGAL PROFESSION ACT 1987 - SECT 118

118 Nomination of practice as State regulated mortgage practice

(1) A solicitor who, in the solicitor's capacity as solicitor for a lender or contributor, negotiates the making of or acts in respect of a regulated mortgage, or who proposes to do so, may, by notice in writing given to the Law Society Council, nominate the solicitor's practice as a State regulated mortgage practice.

(2) A nomination may, with the approval of the Law Society Council, be made for a solicitor by another solicitor (for example, by a solicitor on behalf of members of a firm of solicitors).

(3) A nomination of a solicitor's practice as a State regulated mortgage practice takes effect on the date the notice of the nomination is given to the Law Society Council.

(4) A nomination ceases to be in force, in respect of a solicitor, if:

(a) the solicitor revokes the nomination by notice in writing given to the Law Society Council, or

(b) the practising certificate of the solicitor ceases to be in force, or

(c) the Law Society Council, by notice in writing served on the solicitor, rejects the nomination of the solicitor's practice.

(5) A nomination under this section is to include such information as may be required by the regulations or the solicitors rules.

(6) In this section:

"practising certificate" includes, in respect of an interstate legal practitioner, an interstate practising certificate.