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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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