Legal Profession Act 2006

(1) This section applies if a legal practitioner who, in the practitioner's capacity as legal practitioner for a lender or contributor:

(a) negotiates the making of, or acts in relation to, a regulated mortgage; or

(2) The legal practitioner may, by written notice given to the Law Society, nominate the practitioner's practice as a Territory regulated mortgage practice.

(3) The nomination may, with the Society's approval, be made for a legal practitioner by another legal practitioner (for example, by a legal practitioner on behalf of members of a firm of legal practitioners).

(4) The nomination of the practice takes effect on the date the notice is given to the Society.

(5) The nomination ceases to be in force, in relation to a legal practitioner, if:

(a) the practitioner revokes the nomination by written notice given to the Society; or

(b) the practitioner ceases to be an Australian legal practitioner; or

(c) the Society, by written notice given to the practitioner, rejects the nomination of the practitioner's practice.

(6) The nomination must include the information required by regulation.