Legal Profession Act 2006

In this Part:

allow, a claim, includes compromise or settle the claim.

capping and sufficiency provisions means:

(b) for another jurisdiction – the provisions of the corresponding law of that jurisdiction that correspond to those sections.

claim means a claim under this Part.

claimant means a person who makes a claim under this Part.

concerted interstate default means a default of a law practice that arises from an act or omission:

(a) that was committed jointly by 2 or more associates of the practice; or

(b) parts of which were committed by different associates of the practice or different combinations of associates of the practice;

if this jurisdiction is the relevant jurisdiction for at least one of the associates and another jurisdiction is the relevant jurisdiction for at least one of the associates.

default, in relation to a law practice, means:

(a) a failure of the practice to pay or deliver trust money or trust property that was received by the practice in the course of legal practice by the practice, if the failure arises from an act or omission of an associate that involves dishonesty; or

(b) a fraudulent dealing with trust property that was received by the practice in the course of legal practice by the practice, where the fraudulent dealing arises from or is constituted by an act or omission of an associate that involves dishonesty.

dishonesty includes fraud.

pecuniary loss, in relation to a default, means:

(a) the amount of trust money, or the value of trust property, that is not paid or delivered; or

(b) the amount of money that a person loses or is deprived of, or the loss of value of trust property, as a result of a fraudulent dealing.

relevant jurisdiction, see section 396.