sec.175Professional indemnity insurance

### sec.175 Professional indemnity insurance An Australian-registered foreign lawyer must, at all times while practising foreign law in this jurisdiction, comply with 1 of the following— the foreign lawyer must have professional indemnity insurance that conforms with the requirements for professional indemnity insurance applicable for Australian legal practitioners in any jurisdiction; if the foreign lawyer does not have professional indemnity insurance that complies with paragraph (a) , the foreign lawyer— must have professional indemnity insurance that covers the practice of foreign law in this jurisdiction and that complies with the relevant requirements of a foreign law or foreign registration authority; and if the insurance is for less than $1.5m (inclusive of defence costs), must provide a disclosure statement to each client disclosing the level of cover; if the foreign lawyer does not have professional indemnity insurance that complies with paragraph (a) or (b) , the foreign lawyer must provide a disclosure statement to each client stating that the lawyer does not have complying professional indemnity insurance. A disclosure statement must be made in writing before, or as soon as practicable after, the foreign lawyer is retained in the matter. A disclosure statement provided to a person before the foreign lawyer is retained in a matter is taken to be provided to the person as a client for the purposes of this section. A disclosure statement is not valid unless it is given under, and complies with, any applicable requirements of a regulation. s 175 amd 2010 No. 42 s 138 sch (sec.175-ssec.1) An Australian-registered foreign lawyer must, at all times while practising foreign law in this jurisdiction, comply with 1 of the following— the foreign lawyer must have professional indemnity insurance that conforms with the requirements for professional indemnity insurance applicable for Australian legal practitioners in any jurisdiction; if the foreign lawyer does not have professional indemnity insurance that complies with paragraph (a) , the foreign lawyer— must have professional indemnity insurance that covers the practice of foreign law in this jurisdiction and that complies with the relevant requirements of a foreign law or foreign registration authority; and if the insurance is for less than $1.5m (inclusive of defence costs), must provide a disclosure statement to each client disclosing the level of cover; if the foreign lawyer does not have professional indemnity insurance that complies with paragraph (a) or (b) , the foreign lawyer must provide a disclosure statement to each client stating that the lawyer does not have complying professional indemnity insurance. (sec.175-ssec.2) A disclosure statement must be made in writing before, or as soon as practicable after, the foreign lawyer is retained in the matter. (sec.175-ssec.3) A disclosure statement provided to a person before the foreign lawyer is retained in a matter is taken to be provided to the person as a client for the purposes of this section. (sec.175-ssec.4) A disclosure statement is not valid unless it is given under, and complies with, any applicable requirements of a regulation. - (a) the foreign lawyer must have professional indemnity insurance that conforms with the requirements for professional indemnity insurance applicable for Australian legal practitioners in any jurisdiction; - (b) if the foreign lawyer does not have professional indemnity insurance that complies with paragraph (a) , the foreign lawyer— (i) must have professional indemnity insurance that covers the practice of foreign law in this jurisdiction and that complies with the relevant requirements of a foreign law or foreign registration authority; and (ii) if the insurance is for less than $1.5m (inclusive of defence costs), must provide a disclosure statement to each client disclosing the level of cover; - (i) must have professional indemnity insurance that covers the practice of foreign law in this jurisdiction and that complies with the relevant requirements of a foreign law or foreign registration authority; and - (ii) if the insurance is for less than $1.5m (inclusive of defence costs), must provide a disclosure statement to each client disclosing the level of cover; - (c) if the foreign lawyer does not have professional indemnity insurance that complies with paragraph (a) or (b) , the foreign lawyer must provide a disclosure statement to each client stating that the lawyer does not have complying professional indemnity insurance. - (i) must have professional indemnity insurance that covers the practice of foreign law in this jurisdiction and that complies with the relevant requirements of a foreign law or foreign registration authority; and - (ii) if the insurance is for less than $1.5m (inclusive of defence costs), must provide a disclosure statement to each client disclosing the level of cover;