11Loan and security documents

#### 11 Loan and security documents 11 Loan and security documents > > 11.1 This rule applies where: > > > > > 11.1.1 a solicitor is engaged to give advice to a proposed signatory that will be: > > > > > > > 11.1.1.1 a borrower, a grantor of a security interest, or a security provider referred to as a borrower (a borrower) in loan or security documents, or > > > > > > > 11.1.1.2 a third party mortgagor, guarantor, surety mortgagor or indemnifier (a guarantor) providing security for the borrower, and > > > > > 11.1.2 the solicitor has been asked to provide evidence of the advice. > > > 11.2 The solicitor providing the advice must verify the identity of the proposed signatory using the Verification of Identity Standard contained in Schedule 8 to the Model Participation Rules determined by the Australian Registrars’ National Electronic Conveyancing Council as adopted and made by each jurisdiction pursuant to section 23 of the Electronic Conveyancing National Law. > > > 11.3 The evidence of advice provided by a solicitor to a borrower must be in the form of: > > > > > 11.3.1 Law Society of NSW Declaration by Borrower/Grantor of a Security Interest Schedule 1, 1A or 1B, or > > > > > 11.3.2 Law Institute of Victoria Australian Legal Practitioner’s Certificate 1 (Schedule 1). > > > 11.4 The evidence of advice provided by a solicitor to a guarantor must be in the form of: > > > > > 11.4.1 Law Society of NSW Declaration by Third Party Mortgagor, Guarantor, Surety Mortgagor or Indemnifier for the Borrower/Grantor of a Security Interest Schedule 2 or 2A, or > > > > > 11.4.2 Law Institute of Victoria Australian Legal Practitioner’s Certificate 2 (Schedule 2). > > > 11.5 Where an interpreter or translator is present while the advice is being provided: > > > > > 11.5.1 the name of the interpreter or translator must be included on the relevant Law Society of NSW Declaration or Law Institute of Victoria Australian Legal Practitioner’s Certificate, and > > > > > 11.5.2 the interpreter or translator must be asked to complete a certificate in the form of: > > > > > > > 11.5.2.1 Law Society of NSW Interpreter’s Certificate Schedule 3, or > > > > > > > 11.5.2.2 Law Institute of Victoria Certificate by Translator/Interpreter (Schedule 3). > > > 11.6 The solicitor providing the advice must obtain the following documents for retention on the solicitor’s file: > > > > > 11.6.1 an acknowledgment in the form of: > > > > > > > 11.6.1.1 Law Society of NSW Acknowledgment of Legal Advice Schedule 4, 4A, 4B or 4C \[which must not be provided by the solicitor to the lender\], or > > > > > > > 11.6.1.2 Law Institute of Victoria Form of Acknowledgment given by a Borrower or Surety to the Certifying Australian Legal Practitioner (Schedule 4), and > > > > > 11.6.2 a copy of the relevant Law Society of NSW Declaration or Law Institute of Victoria Australian Legal Practitioner’s Certificate, and > > > > > 11.6.3 a copy of Law Society of NSW Interpreter’s Certificate Schedule 3 or Law Institute of Victoria Certificate by Translator/Interpreter (Schedule 3) (if applicable), and > > > > > 11.6.4 a list of the loan and security documents. > > > 11.7 A solicitor who holds a practising certificate issued in: > > > > > 11.7.1 NSW must use the forms referred to in paragraphs 11.3.1, 11.4.1, 11.5.2.1 and 11.6.1.1, as applicable, and > > > > > 11.7.2 Victoria must use the forms referred to in paragraphs 11.3.2, 11.4.2, 11.5.2.2 and 11.6.1.2, as applicable. > > > 11.8 A solicitor (eg a solicitor acting for the lender) must not aid, abet, counsel or procure any other solicitor to provide evidence otherwise than in conformity with this rule.