The Law Society of New South Wales Scheme
The Law Society of New South Wales Scheme (also known as the Limitation of Liability Scheme or the Scheme) is a benefit provided by the Law Society exclusively for its Solicitor Members in private practice.
It is specifically designed to promote professional standards and to enable private practice Members to limit their civil liability to selected amounts, provided they meet the Scheme’s requirements. Participation in each Scheme year, which runs from 22 November to 21 November the following year, is registered on an annual basis.
The current Scheme has been approved by the Professional Standards Council and the Minister for Innovation and Better Regulation, to operate for the five (5) year period from 2012 to 2017. The Minister has granted the Law Society an extension of the current Scheme until November 2018. An application for a new Scheme, to operate from November 2018 to November 2023, is being prepared for submission to the Professional Standards Council (PSC) and the Minister for approval.
Although Law Society membership makes you eligible for the Scheme, the Law Society is required to record participation of all legal practitioners in the Scheme and this involves a number of administrative steps. Please download the Information Bulletin for more details about the Scheme, including coverage, eligibility requirements and application procedures.
- Information Bulletin on The Law Society of New South Wales Scheme
- Frequently Asked Questions
- Incorporated Legal Practices and the Scheme
- Guidelines for Discretionary Higher Monetary Ceilings
- Current Scheme 2012-2017 (as from 22 November 2012)
- Former Schemes
- “Cover of Excellence” Disclosure
- General Information on Disclosure Requirements for Members of Occupational Associations
- Application for Participation or Exemption Form 2017-2018 (22 Nov 2017 - 21 Nov 2018 Scheme year)
- Application for Discretionary Higher Cap
- Application to Change Class
- Payment Form for Additional Members
- Professional Standards Act 1994 (NSW)
- Professional Standards Regulation 2014 (NSW)
- Treasury Legislation Amendment (Professional Standards) Act 2004 (Cwlth)
- The Law Society of New South Wales
- 170 Phillip Street
- Sydney NSW 2000
- DX 362 Sydney
- Email: email@example.com