(1) In this section
—
unrestricted legal practitioner means an
Australian legal practitioner who holds a practising certificate that is not
subject to a condition that the practitioner must engage in supervised legal
practice only.
(2) The Law Society
must determine a method of assessment of annual contributions of PII entities.
(3) The method of
assessment determined under subsection (2) may take into account any matter
the Law Society considers relevant, including —
(a) the
gross past or estimated future fee income of a PII entity; and
(b) the
professional indemnity insurance claims history of a PII entity; and
(c) the
amount of excess a PII entity will pay in relation to a claim; and
(d) the
area of practice of a PII entity; and
(e) if a
PII entity is an Australian legal practitioner — whether the
practitioner has implemented and observed good risk management practices,
including attending risk management seminars; and
(f) if a
PII entity is not an Australian legal practitioner —
(i)
whether the PII entity has implemented and observed good
risk management practices, including the attendance of the principals and
employees of the PII entity at risk management seminars; and
(ii)
if the PII entity has not previously paid an annual
contribution — the professional indemnity insurance claims history of
the principals and employees of the PII entity;
and
(g) if a
PII entity is a law firm —
(i)
the types of services provided by the law firm and the
proportion of those services that are legal services; and
(ii)
the business structure of the law firm; and
(iii)
the number of principals in the law firm; and
(iv)
the number of Australian legal practitioners employed by
the law firm; and
(v)
the number of persons employed by the law firm;
and
(h) if a
PII entity is an unincorporated legal practice —
(i)
the number of lay associates of the legal practice; and
(ii)
the number of associates of the legal practice who are
Australian legal practitioners; and
(iii)
the number of partners or other persons in control of the
legal practice who are not Australian legal practitioners; and
(iv)
the types of services provided by the legal practice and
the proportion of those services that are legal services;
and
(i)
if a PII entity is an incorporated legal practice —
(i)
the number of directors of the legal practice who are not
unrestricted legal practitioners; and
(ii)
the number of officers of the legal practice and how many
are Australian legal practitioners.