Admitted and Company members of the Law Society
can participate and will need to provide a completed
Participation / Exemption form to the Law Society.
The Participation form is available by clicking here.
The application form requires certain information to
be provided to the Society for each Admitted and
Company Participating Member in the LLS including:
(a) Name of Law Society member;
(b) Practising Certificate number;
(c) Name of law practice at which the Society
member is working.
Additionally, the Law Society will require information
from law practices to enable it to administer the PSS
and report to the PSC regarding the PSS. This
(a) Number of practitioners in the law practice;
(b) Name of each practitioner in the law practice;
(c) Approximate total annual fee income for the
relevant financial year.
A fee of $297.50 per annum is payable for each
practising full member and each ILP Company Member
to participate in the PSS, made up of:
(a) $50.00 registration fee which the Law Society will
pay to the PSC; and
(b) $225.00 plus GST annual administration fee to
enable the Law Society to administer the PSS.
Fees are pro rated every quarter. Please contact the
Scheme Manager to obtain the current pro rated fee.
It is important to note that under the Professional
Standards legislation, the PSS operates best on a ‘onein, all-in basis’. This means that for a law practice to
gain the full benefit of the PSS and the limitation of
liability, all solicitors (that is, any person who holds a
current Australian practising certificate) within the law
practice should be members of the Law Society and
participate in the PSS.
For example, a firm might have ten principals, nine of
whom are participating in the PSS, but the tenth
principal is neither a member of the Law Society nor
the PSS. If a successful claim is made against the tenth
principal, he or she might be found liable for the full
amount of the claim, but could possibly be entitled to
bring a contribution claim against all other principals
to contribute to the balance of the claim which
exceeds the monetary limit of the insurance policy
held by the firm. This undermines the effectiveness of
the limitation of liability cap.
Issues may also arise if an employed solicitor is neither
a member of the Law Society nor the PSS. If a claim is
brought against the employed solicitor, the principal/s
(as the employer) will likely be vicariously liable for the
employee’s act or omission committed in the course
of employment, and may not be able to rely on the
limitation of liability cap.
Firms wishing to benefit from the limitation of liability
provided by the PSS should therefore ensure that:
- All solicitors (both principals and solicitor
employees) renew their membership of the Law
Society and the PSS on an annual basis; and
All new solicitors (both principals and solicitor
employees) retain or immediately gain
membership of the Law Society and the PSS.