LEGAL PROFESSION ACT 2007 - SECT 121
Professional indemnity insurance
LEGAL PROFESSION ACT 2007 - SECT 121
Professional indemnity insurance
121 Professional indemnity insurance
(1) An incorporated legal practice must not engage in legal practice in this
jurisdiction unless it has professional indemnity insurance that complies with
the requirements prescribed under a regulation about professional indemnity
insurance for an incorporated legal practice.
Penalty—
Maximum
penalty—
(a) for a person guilty under the Criminal Code , chapter 2 , of an
offence—300 penalty units or 2 years imprisonment; or
(b) for a
corporation—1,500 penalty units.
(2) An incorporated legal practice
engaging in legal practice in this jurisdiction must comply with its
obligations under the indemnity rules.
Penalty—
Maximum penalty—
(a)
for a person guilty under the Criminal Code , chapter 2 , of an offence—300
penalty units or 2 years imprisonment; or
(b) for a corporation—1,500
penalty units.
(3) Failure by a legal practitioner director of an
incorporated legal practice to ensure that the incorporated legal practice
complies with subsection (1) or (2) is capable of constituting professional
misconduct.
