(1)  This Part applies if an Australian lawyer is not an Australian legal practitioner because his or her Australian practising certificate has lapsed and the lawyer was a sole practitioner immediately before the certificate lapsed, but does not apply where –

(a) the certificate has been suspended or cancelled under this Act or a corresponding law; or

(b) the lawyer’s application for the grant or renewal of an Australian practising certificate has been refused under this Act or a corresponding law and the lawyer would be an Australian legal practitioner had it been granted or renewed.

(2)  For the purposes of other provisions of this Part, the practising certificate is taken not to have lapsed, and accordingly the lawyer is taken to continue to be an Australian legal practitioner.

(3)  Subsection (2) ceases to apply –

(a) if a manager or receiver is appointed under this Act for the law practice; or

(b) upon expiry of the period of 6 months after the practising certificate actually lapsed; or

(c) if the lawyer's application for the grant or renewal of an Australian practising certificate is refused under this Act or a corresponding law –

whichever first occurs.

PART 3.6 - Mortgage Investment Schemes