New South Wales Consolidated Acts

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LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 221

Defaults to which this Part applies

221 Defaults to which this Part applies

(1) This Part applies to a default of a law practice only to the extent that it occurs in connection with the provision of legal services by the law practice.
Note: See section 233 for entitlement to make a claim for a default.
(2) It is immaterial where a default occurs.
(3) This Part applies to a default even though an associate involved was but is no longer an Australian legal practitioner or an Australian-registered foreign lawyer.
(4) This Part does not apply to defaults or classes of defaults specified in the Uniform Rules.
Note: Money entrusted to or held by a law practice for or in connection with a managed investment scheme, or mortgage financing, undertaken by the law practice is not trust money for the purposes of this Law (see section 129(2)).



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