Australian Capital Territory Numbered Acts

LEGAL PROFESSION ACT 2006 (NO. 25 OF 2006) - SCHEDULE 2

SCHEDULE 2

THE LAW SOCIETY OF THE AUSTRALIAN CAPITAL TERRITORY

Solicitor Acting for Both Mortgagor and Mortgagee

Instructions to Solicitor

The Law Society of the Australian Capital Territory is opposed to the practice of the one solicitor or firm of solicitors acting for both mortgagor and mortgagee in a matter concerning the mortgage of land and has ruled that members of the Society must not so act in the Territory.

The reason for the rule is that a solicitor or firm of solicitors cannot properly fulfil their duty to both parties in circumstances where a conflict between the parties arises.

However, the Society recognises that occasions do arise where both mortgagor and mortgagee desire to employ the same solicitor or firm of solicitors and in this situation is prepared to waive the rule subject to the following conditions:

1.     The parties must be:

(a)     existing clients for whom the solicitor or firm of solicitors has previously acted;

(b)     related bodies corporate as defined in the Corporations Law; or

(c)     related by blood, adoption or marriage (either de jure or de facto).

2.     The above rule of the Society must be brought to the notice of both mortgagor and mortgagee.

3.     Both mortgagor and mortgagee must then instruct the solicitor in writing to act, such instructions to specify the matter in question.

Having read the above I, hereby instruct to act for me in the matter of my *mortgage to/*mortgage from
of the *property known as Block Section Division


Signed.......................................................................

Date ..........................................................................


* Strike out inappropriate words