(1) A law practice must not have a lay associate whom any principal or other legal practitioner associate of the practice knows to be unless the lay associate is approved by the Board under subsection (2) .(a) a disqualified person; or(b) a person who has been convicted of a serious offence (2) The Board may, on application, approve a lay associate for the purposes of this section.(3) An approval under this section may be subject to specified conditions.(4) A disqualified person, or a person convicted of a serious offence, must not seek to become a lay associate of a law practice unless the person first informs the law practice of the disqualification or conviction.Penalty: Fine not exceeding 50 penalty units.(5) Proceedings for an offence under subsection (4) may only be brought within 6 months after discovery of the offence by the law practice.(6) This section does not apply in circumstances prescribed by the regulations.