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Lawyers and Conveyancers Act 2006

Fidelity Funds

307: Lawyers to whom, and incorporated law firms to which, this Part applies

You could also call this:

"Which lawyers and law firms this part of the law applies to"

Illustration for Lawyers and Conveyancers Act 2006

This part of the law applies to you if you are a lawyer who works on your own and provides services to the public. You must keep records of trust accounts and valuable property as required by section 112(1). This part also applies to incorporated law firms that provide services to the public and keep these records. If you are a lawyer and a director or shareholder of an incorporated law firm, this part applies to you too. This is because the firm receives or holds money or valuable property on behalf of clients. The firm may also invest money for clients or receive fees in advance. There are some exceptions to this rule. For example, if you work for a community law centre, you are not affected by this part of the law. You can find out more about community legal services in section 4(1) of the Legal Services Act 2011. If you are a lawyer who is employed by someone else, but people think you are a partner, you are treated as if you are providing services to the public on your own. However, if you work for certain organisations, such as the Ministry of Justice or Public Trust, you are not affected by this part of the law. You can read more about the Legal Services Act 2011 here.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM367383.

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Part 10Fidelity Funds

307Lawyers to whom, and incorporated law firms to which, this Part applies

  1. This Part applies to—

  2. every lawyer who—
    1. is in practice on his or her own account; and
      1. provides regulated services to the public; and
        1. is a lawyer who is obliged by section 112(1) to keep records in respect of trust accounts and valuable property:
        2. every incorporated law firm that—
          1. provides regulated services to the public; and
            1. is an incorporated law firm that is obliged by section 112(1) to keep records in respect of trust accounts and valuable property:
            2. every lawyer who is a director or shareholder of an incorporated law firm that, in the course of providing to the public services that are, in relation to a lawyer, regulated services,—
              1. receives or holds in trust money or other valuable property on behalf of any person; or
                1. invests money for any other person; or
                  1. receives money by way of fees or disbursements in advance of an invoice being issued.

                  2. Except as provided in subsection (3), this Part applies only to lawyers and incorporated law firms of the kind described in subsection (1).

                  3. Every lawyer who is in fact employed by a lawyer who provides regulated services to the public or by a firm of lawyers that provides regulated services to the public but who is held out as a partner of the lawyer or as a partner in the firm is deemed, for the purposes of this Part, to be providing regulated services to the public on his or her own account.

                  4. For the purposes of this Part, a lawyer is not to be treated as being a lawyer of the kind described in subsection (1) merely because he or she,—

                  5. in the course of his or her employment by a community law centre, provides to the public—
                    1. community legal services within the meaning of section 4(1) of the Legal Services Act 2011; or
                      1. legal services within the meaning of section 4(1) of the Legal Services Act 2011; or
                      2. acts as an employee of the Ministry of Justice; or
                        1. provides to the public legal services within the meaning of the Legal Services Act 2011; or
                          1. provides to the public, in his or her capacity as an employee of Public Trust or of the Maori Trustee or of a trustee company, regulated services that his or her employer is entitled to provide to the public; or
                            1. provides, in his or her capacity as an employee of an employer organisation, regulated services to that organisation or to a member of that organisation; or
                              1. provides, in his or her capacity as an employee of a union, regulated services to that union or to a member of that union.

                                Compare
                                Notes
                                • Section 307(4)(a): substituted, on , by section 144 of the Legal Services Act 2011 (2011 No 4).
                                • Section 307(4)(b): substituted, on , by section 144 of the Legal Services Act 2011 (2011 No 4).
                                • Section 307(4)(c): substituted, on , by section 144 of the Legal Services Act 2011 (2011 No 4).
                                • Section 307(4)(d): amended (with effect from 1 August 2008), on , by section 9 of the Lawyers and Conveyancers Amendment Act 2008 (2008 No 54).
                                • Section 307(4)(e): added (with effect from 1 August 2008), on , by section 9 of the Lawyers and Conveyancers Amendment Act 2008 (2008 No 54).
                                • Section 307(4)(f): added (with effect from 1 August 2008), on , by section 9 of the Lawyers and Conveyancers Amendment Act 2008 (2008 No 54).