Conditional costs agreements involving uplift fees
319 Conditional costs agreements involving uplift fees
A conditional costs agreement may provide for the payment of additional legal costs (excluding disbursements) on the successful outcome of the matter to which the agreement relates.
The basis of calculation of the uplift fee must be separately identified in the agreement.
An estimate of the uplift fee must be specified in the agreement or, if that is not reasonably practicable, a range of estimates of the uplift fee and an explanation of the major variables that will affect the calculation of the uplift fee.
If a conditional costs agreement relates to a litigious matter, the premium must not exceed the percentage prescribed by the regulations of the legal costs (excluding disbursements) otherwise payable.
A law practice must not enter into a costs agreement in contravention of this section.
If a law practice that is an Australian legal practitioner who is a sole practitioner, or an incorporated legal practice, contravenes subsection (5), the practitioner or practice is guilty of an offence.
Maximum penalty: 500 penalty units.
If a law practice that is a law firm or multi-disciplinary partnership contravenes subsection (5), each principal of the practice is guilty of an offence.
Maximum penalty: 500 penalty units.
This provision refers to the regulations (prescribed by the regulations
). Made under this Act:
This Act’s bill:Explanatory statementSecond reading speech
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