Regulation 23
Holding of shares in related law corporation
of Legal Profession (Law Practice Entities) Rules 2015
Subregulation 1
The exception to section 142(3)(a) of the Act is that a solicitor who is a partner or an employee of a limited liability law partnership may hold shares in a law corporation that is related to the limited liability law partnership.
Subregulation 2
The exception to section 142(5)(a)(i) of the Act is that a regulated foreign lawyer who is a partner or an employee of a limited liability law partnership may hold shares in a law corporation that is related to the limited liability law partnership.
Subregulation 3
The exception to section 142(5)(b)(i) of the Act is that a regulated non‑practitioner who is a partner or an employee of a limited liability law partnership may hold shares in a law corporation that is related to the limited liability law partnership.