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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
QUEENSLAND LAW
SOCIETY LEGISLATION
AMENDMENT BILL 1996
Queensland
QUEENSLAND LAW SOCIETY
LEGISLATION AMENDMENT BILL 1996
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
PART 2--AMENDMENT OF QUEENSLAND LAW SOCIETY
ACT 1952
3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Insertion of new ss 24A and 24B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
24A Fund offers no protection for certain mortgages . . . . . . . . . . . . . . . . 4
24B Practitioners to notify clients about non-liability of fund
for certain mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
PART 3--AMENDMENT OF LAND TITLE ACT 1994
5 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
6 Amendment of s 189 (Matters for which there is no entitlement
to compensation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1996
A BILL
FOR
An Act to amend the Queensland Law Society Act 1952, and for related
purposes
s1 4 s4
Queensland Law Society Legislation Amendment
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
title 3
Short
Clause 1. This Act may be cited as the Queensland Law Society Legislation 4
Amendment Act 1996. 5
6
Commencement
Clause 2. This Act is taken to have commenced on 16 May 1996. 7
ART 2--AMENDMENT OF QUEENSLAND LAW 8
P
SOCIETY ACT 1952 9
amended in pt 2 10
Act
Clause 3. This part amends the Queensland Law Society Act 1952. 11
of new ss 24A and 24B 12
Insertion
Clause 4. After section 24-- 13
insert-- 14
offers no protection for certain mortgages 15
`Fund
`24A.(1) A claim may not be made against the fund for reimbursing 16
pecuniary loss suffered because of a practising practitioner's unlawful 17
conduct in relation to an excluded mortgage. 18
`(2) Subsection (1) applies to all excluded mortgages for which 19
instructions were given on or after 16 May 1996. 20
`(3) In this section-- 21
s4 5 s4
Queensland Law Society Legislation Amendment
"direct mortgage" means a mortgage for which-- 1
(a) the mortgagee is a financial institution; or 2
(b) the mortgagee specifies the mortgagor and the mortgagor is not a 3
person introduced to the mortgagee by a practising practitioner for 4
the making of the mortgage. 5
"excluded mortgage" means a mortgage other than a direct mortgage. 6
"mortgage" means a legal or equitable mortgage or charge, or a proposed 7
legal or equitable mortgage or charge, over an interest in land. 8
"mortgagee" includes proposed mortgagee. 9
"mortgagor" includes proposed mortgagor. 10
"practising practitioner" includes a practising practitioner's clerk or 11
employee. 12
"unlawful conduct" means conduct that, if subsection (1) did not apply, 13
would make the fund liable, under section 24, to reimburse persons 14
who suffer pecuniary loss because of the conduct. 15
to notify clients about non-liability of fund for certain 16
`Practitioners
mortgages 17
`24B.(1) This section applies to an amount entrusted, or proposed to be 18
entrusted, to a practising practitioner as mentioned in section 24(1) if the 19
amount, or part of the amount, is to be used or is proposed to be used for an 20
excluded mortgage. 21
`(2) The practising practitioner must give the practitioner's client notice 22
of the effect of section 24A and also give the client a copy of section 24A 23
and this section. 24
`(3) The notice and copy must be given to the client before the 25
practitioner accepts instructions for the excluded mortgage or receives an 26
amount for the excluded mortgage. 27
`(4) The practitioner may use the amount for the excluded mortgage only 28
if the client has authorised the practitioner to use the amount. 29
`(5) A notice mentioned in subsection (2), and an authority mentioned in 30
subsection (4), must be in the appropriate approved form. 31
s6 6 s6
Queensland Law Society Legislation Amendment
`(6) A practising practitioner who contravenes this section commits 1
professional misconduct. 2
`(7) A contravention of this section does not limit the operation of 3
section 24A.1 4
`(8) In this section-- 5
"client", of a practising practitioner, means a client-- 6
(a) receiving the practitioner's advice about investment in excluded 7
mortgages; or 8
(b) giving the practitioner instructions to use an amount for an 9
excluded mortgage. 10
"excluded mortgage" see section 24A. 11
"practising practitioner" see section 24A.'. 12
PART 3--AMENDMENT OF LAND TITLE ACT 1994 13
amended in pt 3 14
Act
Clause 5. This part amends the Land Title Act 1994. 15
of s 189 (Matters for which there is no entitlement to 16
Amendment
compensation) 17
Clause 6.(1) Section 189(1)-- 18
insert-- 19
`(ba)because of unlawful conduct mentioned in the Queensland Law 20
Society Act 1952, section 24A; or'. 21
1 Section 24A (Fund offers no protection for certain mortgages)
s6 7 s6
Queensland Law Society Legislation Amendment
(2) Section 189(1)(ba) to (g)-- 1
renumber as section 189(1)(c) to (h). 2
3
© State of Queensland 1996
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