Law practice referral through sale of business
325M Law practice referral through sale of business
This section applies if—
a law practice (the current practice) sells all or part of the law practice’s business to another law practice (the new practice); and
as part of the sale, a claimant is to be referred to the new practice; and
the claimant has not or will not have lodged an application for compensation or given a notice of claim for damages before the referral occurs.
The supervising principal of the current practice must, before the referral occurs—
complete a law practice certificate for the claim; and
give the law practice certificate to the new practice and a copy of the certificate to the claimant.
Maximum penalty—300 penalty units.
If the new practice does not receive the law practice certificate mentioned in subsection (2), the supervising principal of the new practice must, as soon as practicable—
complete a notice that states the new practice has not received the certificate; and
give the notice to the insurer.
This Act’s bill:Explanatory memorandum
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