327Meaning of relevant jurisdiction—pt 3.4

327 Meaning of relevant jurisdiction—pt 3.4 (1) The relevant jurisdiction of an associate of a law practice whose act or omission (whether alone or with 1 or more other associates of the practice) gives rise to or constitutes a default of the practice is decided Note The concept of an associate’s relevant jurisdiction is used to decide the jurisdiction whose fidelity fund is liable for a default of a law practice arising from an act or omission committed by the associate. The relevant jurisdiction for an associate is in some cases the associate’s home (2) For a default involving trust money received in Australia (whether or not it was paid into an Australian trust account), the relevant jurisdiction of the associate is— (a) if the trust money was paid into an Australian trust account and if the associate (whether alone or with a cosignatory) was authorised to withdraw any or all of the trust money from the only or last Australian trust account in which the trust money was held before the default—the jurisdiction under whose law that trust account was kept; or (b) in any other case—the associate’s home jurisdiction. (3) For a default involving trust money received outside Australia and paid into an Australian trust account, the relevant jurisdiction of the associate is— (a) if the associate (whether alone or with a cosignatory) was authorised to withdraw any or all of the trust money from the only or last Australian trust account in which the trust money was held before the default—the jurisdiction under whose law that trust account was kept; or (b) in any other case—the associate’s home jurisdiction. Defaults to which pt 3.4 applies Division 3.4.3 (4) For a default involving trust property received in Australia, or received outside Australia and brought to Australia, the relevant jurisdiction of the associate is the associate’s home jurisdiction. Note Section 353 (Defaults involving interstate elements if committed by 1 associate only) provides that the law society council may treat the default as consisting of 2 or more defaults for the purpose of deciding the liability of the fidelity fund.