372Law society council to be notified of territory regulated

372 Law society council to be notified of territory regulated (1) A solicitor commits an offence if the solicitor— (a) in the solicitor’s capacity as solicitor for a lender or contributor, negotiates the making of or acts in relation to a territory regulated mortgage; and

(b) fails to give the law society council written notice of that fact in accordance with the regulations or the legal profession rules. Maximum penalty: 20 penalty units. (2) A contravention of this section can be professional misconduct.