Three sets of rules have been released:
The Lawyers and Conveyancers Act Rules 2008 provide for, among other things:
All lawyers should make themselves familiar with these rules.
These new rules, made under ss94 and 99 of the LCA, establish that it is not compulsory for lawyers to hold professional indemnity insurance. However, Rule 4(2) will require lawyers who are partners or directors of a practice to consider holding appropriate PI insurance. Under R 5(1) the NZLS must, within two years of the commencement of the rules, consider and determine whether to require lawyers or incorporated firms to hold PI insurance.
Law practices will shortly need to prepare memoranda setting out information for clients required under Rules 3.5 and 3.6 of the Rules of Conduct and Client Care. Further information is available on the options and minimum requirements.
Please send any letter of request for a change of nominee company name (Rule 5.2) to the Executive Director, New Zealand Law Society, PO Box 5041, Lambton Quay, Wellington 6141 or DX SP20202; or email to firstname.lastname@example.org