165Professional indemnity insurance—Australian-registered

165 Professional indemnity insurance—Australian-registered (1) An Australian-registered foreign lawyer who practises foreign law in the ACT commits an offence if the foreign lawyer fails to comply with subsection (2), (3) or (4). (2) The foreign lawyer must be covered by professional indemnity insurance that— (a) covers the practice of foreign law in the ACT; and (b) is for at least the relevant amount inclusive of any legal costs arising from claims under the insurance; and (c) has been approved under, or complies with, the requirements this Act or a corresponding law for a practising certificate held by an Australian legal practitioner in any jurisdiction. (3) The foreign lawyer must be covered by professional indemnity insurance from a foreign country that— (a) covers the practice of foreign law in the ACT; and (b) complies with the relevant requirements of a law of the foreign country or a registration authority of the foreign country; and (c) if the insurance is for less than the relevant amount (including defence costs)—provides a disclosure statement to each client stating the level of cover. (4) If the foreign lawyer does not comply with subsection (2) or (3), the lawyer must— (a) if the lawyer is covered by professional indemnity insurance— give a disclosure statement to each client stating that the lawyer has professional indemnity insurance but that it does not comply with this Act; or (b) if the lawyer is not covered by professional indemnity insurance—give a disclosure statement to each client stating that the lawyer is not covered by professional indemnity insurance. (5) A disclosure statement must— (a) be in writing; and (b) be given before, or as soon as practicable after, the foreign lawyer is retained in a matter. (6) A disclosure statement given to a person before the foreign lawyer is retained in a matter is taken to be given to the person as a client for the purposes of this section. (7) A disclosure statement must be given in accordance with, and must comply with, any requirement under regulation. Local registration of foreign lawyers generally Division 2.7.3 defence costs, in relation to professional indemnity insurance covering an Australian-registered foreign lawyer, means costs (other than the claimant’s costs) payable by an insurer in relation to a claim, or notification that may lead to a claim, under the policy of insurance held by the lawyer. (a) if an amount is prescribed by regulation for section 72 (Professional indemnity insurance—interstate legal practitioners)—that amount; or