Managed investment schemes—litigation funding schemes
91BA Managed investment schemes—litigation funding schemes
A litigation funding scheme is specified as a kind of scheme for the purposes of section 258(1A)(c) of the Uniform Law.
For the purposes of section 258(3) of the Uniform Law, a law practice is permitted to provide legal services in relation to a managed investment scheme, despite an associate of the law practice having an interest in the scheme or the responsible entity for the scheme, if the scheme is a litigation funding scheme.
In this rule, litigation funding scheme means a litigation funding scheme mentioned in the Corporations Regulations 2001 of the Commonwealth, regulation 7.1.04N(3), as in force immediately before its repeal.
This rule applies to a litigation funding scheme entered into on or after 22 August 2020 and before 10 December 2022.
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