Legal Profession (Professional Conduct) Rules 2015 · As enacted · Part 5A · Rules Applicable to Third-Party Funding
49B. Prohibition against financial and other interests in Third-Party Funder
Feedback & supportLast amended by an amending law of 2017.
A legal practitioner or a law practice must not, directly or indirectly, hold any share or other ownership interest in a Third‑Party Funder —
which the legal practitioner or law practice has introduced or referred to a client of the legal practitioner or law practice in relation to dispute resolution proceedings; or
which has a third-party funding contract with a client of the legal practitioner or law practice.
A legal practitioner or a law practice must not receive any commission, fee or share of proceeds from the Third-Party Funder mentioned in paragraph (1).
Paragraph (2) does not prohibit receiving any fee, disbursement or expense payable by the client mentioned in paragraph (1) for the provision of legal services by the legal practitioner or law practice to that client.
Subregulation 1
A legal practitioner or a law practice must not, directly or indirectly, hold any share or other ownership interest in a Third‑Party Funder —
which the legal practitioner or law practice has introduced or referred to a client of the legal practitioner or law practice in relation to dispute resolution proceedings; or
which has a third-party funding contract with a client of the legal practitioner or law practice.
Subregulation 2
A legal practitioner or a law practice must not receive any commission, fee or share of proceeds from the Third-Party Funder mentioned in paragraph (1).
Subregulation 3
Paragraph (2) does not prohibit receiving any fee, disbursement or expense payable by the client mentioned in paragraph (1) for the provision of legal services by the legal practitioner or law practice to that client.