LEGAL PROFESSION ACT 1987 - SECT 122J No claims against Fidelity Fund by substitute lenders
This legislation has been repealed.
LEGAL PROFESSION ACT 1987 - SECT 122J
No claims against Fidelity Fund by substitute lenders122J No claims against Fidelity Fund by substitute lenders
(1) A person who becomes a lender or contributor under a run-out mortgage after the commencement of section 117, as inserted by the Legal Profession Amendment (Mortgage Practices) Act 2000 , is not entitled to make a claim against the Fidelity Fund for the purpose of obtaining compensation for a pecuniary loss if the claim relates to that mortgage.
(2) Subsection (1) does not apply if the solicitor who acts for the person fails to give the client the notice referred to in section 122I in accordance with that section.