Queensland Law Society Amendment Rule (No. 1) 1998 (Qld)

Queensland Subordinate Legislation 1998 No. 40 Queensland Law Society Act 1952 QUEENSLAND LAW SOCIETY AMENDMENT RULE (No. 1) 1998 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Rule amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of s 86 (Limitation on borrowings and guarantees etc.) . . . . . 2 4 Amendment of s 87A (Excluded mortgages) . . . . . . . . . . . . . . . . . . . . . . . . . 2

s1 2 s4 Queensland Law Society Amendment (No. 1) No. 40, 1998 ˙ Short title 1. This rule may be cited as the Queensland Law Society Amendment Rule (No. 1) 1998 . ˙ Rule amended 2. This rule amends the Queensland Law Society Rule 1987 . ˙ Amendment of s 86 (Limitation on borrowings and guarantees etc.) 3.(1) Section 86(1)(ii), after ‘vested in’— insert— ‘the practitioner,’. (2) Section 86(4), definition “related person” , paragraph (c)— omit, insert— ‘(c) a corporation, joint venture, partnership, syndicate or trust in which the practitioner or a person mentioned in paragraph (a) or (b) has shares or a beneficial interest, whether or not vested in the person; other than a person or company mentioned in subsection (1)(i). 1 ’. ˙ Amendment of s 87A (Excluded mortgages) 4.(1) Section 87A(1), (2) and (3)(b), ‘specified’— omit. (2) Section 87A(4), definitions “ASC exemption” , “contributory mortgage” , “Corporations Law provisions” and “specified excluded mortgage” — omit. 1 See section 85 for the meaning of “member of the family”.

s4 3 s4 Queensland Law Society Amendment (No. 1) No. 40, 1998 (3) Section 87(4), definition “mortgage fidelity insurance” , ‘a specified excluded mortgage’— omit, insert— ‘an excluded mortgage 2 ’. (4) Section 87(4), definition “practise” — omit, insert— ‘ “practise” , in excluded mortgages, means accept instructions to negotiate, or otherwise act, in relation to the preparation of an excluded mortgage.’. ENDNOTES 1. Approved by the Governor in Council on 19 March 1998. 2. The amendment approved in this rule was made by the Council of the Queensland Law Society Incorporated on 5 February 1998. 3. Notified in the gazette on 20 March 1998. 4. Laid before the Legislative Assembly on . . . 5. The administering agency is the Department of Justice. © State of Queensland 1998 2 See the Act, section 124A for the meaning of “excluded mortgage”.