LEGAL PROFESSION ACT 1987 - SECT 187 Payment of premium under conditional costs agreement
This legislation has been repealed.
LEGAL PROFESSION ACT 1987 - SECT 187
Payment of premium under conditional costs agreement187 Payment of premium under conditional costs agreement
(1) A conditional costs agreement may provide for the payment of a premium on those costs otherwise payable under the agreement only on the successful outcome of the matter.
(2) The premium is to be a specified percentage of those costs or a specified additional amount. The premium is to be separately identified in the agreement.
(3) The premium is not to exceed 25% of those costs.
(4) However, the regulations may vary that maximum percentage of costs. Different percentages may be prescribed for different circumstances.