Victorian Current Acts

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LEGAL PROFESSION UNIFORM LAW APPLICATION ACT 2014 - SECT 102

Functions and powers

    (1)     The Liability Committee has the following functions—

        (a)     to carry on the business of providing professional indemnity insurance in accordance with Part 4.4 of the Legal Profession Uniform Law (Victoria);

        (b)     to undertake liability under contracts of professional indemnity insurance provided in accordance with Part 4.4 of the Legal Profession Uniform Law (Victoria);

        (c)     any other functions conferred by the Legal Profession Uniform Law (Victoria) or this Act.

    (2)     The Liability Committee has power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions.

    (3)     Without limiting subsection (2), the Liability Committee may—

        (a)     enter into contracts or arrangements in relation to insurance, re-insurance or limitation of any liability undertaken by it under subsection (1); and

        (b)     with the approval of the Victorian Legal Services Board, borrow money from an ADI by way of overdraft or otherwise obtain financial accommodation and give security for that financial accommodation; and

        (c)     require any of the following persons to give it, in the form it requires, access to any information held by the person that is necessary for the Liability Committee to perform its functions—

              (i)     the Victorian Legal Services Board;

              (ii)     a local professional association; and

        (d)     exercise any other powers conferred by the Legal Profession Uniform Law (Victoria) or this Act.



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