219Definitions

219 Definitions

219 Definitions

In this Part—

claim means a claim under this Part, and claimant means a person who makes a claim under this Part;

concerted interjurisdictional default means a default of a law practice arising from or constituted by an act or omission—

(a) that was committed jointly by 2 or more associates of the law practice; or

(b) parts of which were committed by 2 or more associates of the law practice—

where this jurisdiction is the relevant jurisdiction for at least one of the associates and another jurisdiction is the relevant jurisdiction for at least one of the associates;

default means—

(a) in relation to trust money or trust property received by a law practice in the course of legal practice by the law practice—a failure of the law practice to pay or deliver the trust money or trust property, where the failure arises from an act or omission of an associate that involves fraud or other dishonesty; or

(b) in relation to trust property received by a law practice in the course of legal practice by the law practice—a fraudulent dealing with the trust property, where the fraudulent dealing arises from or is constituted by an act or omission of an associate that involves fraud or other dishonesty;

fidelity fund—see sections 222 and 223;

lawyer means—

(a) an Australian legal practitioner; or

(b) an Australian-registered foreign lawyer who is an associate of a law practice;

pecuniary loss, in relation to a default, means—

(a) the amount of trust money, or the value of trust property, that is not paid or delivered; or

(b) the amount of money that a person loses or is deprived of, or the loss of value of trust property, as a result of a fraudulent dealing;

relevant jurisdiction—see section 220.