Document ID: chunk:federal_register_of_legislation:F2022N00121:body:0:p2
Version: federal_register_of_legislation:F2022N00121
Segment Type: other
Provision Reference: 
Character Range: 2753–5115

of the society performing its functions under Division 3.1.4 of Part 3.1 of the Legal Profession Act 2006 (ACT); and
           (iii) in respect of The Law Society of Tasmania—for the purposes of the society performing its functions under sections 355 and 357 of the Legal Profession Act 2007 (Tas.); and
           (iv) in respect of The Law Society of Western Australia Inc.—for the purposes of the society performing its functions under section 3 of the Law Society Public Purposes Trust Act 1985 (WA); and
           (v) in respect of the trustees of the NSW Public Purpose Fund—for the operation of the fund.

6 Where the exemptions apply
(1) An exemption in section 5 applies in relation to the matters referred to in a subparagraph of paragraph 5(b) where the relevant eligible legal body in relation to those matters makes available on its Internet website, in a manner reasonably likely to come to the attention of a person seeking information about the matters, a prominent notice to the effect that the persons responsible for those matters are exempt from the requirement to hold an Australian financial services licence under the Act.
(2) In this section:
relevant eligible legal body means:
           (a) in relation to the matters referred to in subparagraphs 5(b)(i) and (v)—the Law Society of New South Wales; and
           (b) in relation to the matters referred to in subparagraph 5(b)(ii)—The Law Society of the Australian Capital Territory; and
           (c) in relation to the matters referred to in subparagraph 5(b)(iii)—The Law Society of Tasmania; and
           (d) in relation to the matters referred to in subparagraph 5(b)(iv)—The Law Society of Western Australia Inc.

7 NSW Public Purpose Fund exemption
    The Law Society of New South Wales does not have to comply with subsection 911A(1) of the Act for the provision of a financial service where:
       (a) the service consists of any or all of the following:
           (i) providing a custodial or depository service;
           (ii) dealing in financial products;
           (iii) providing financial product advice; and
       (b) the service is provided to the trustees of the NSW Public Purpose Fund; and
       (c) the service is provided to the extent reasonably necessary to enable the trustees to discharge their duties as trustees of the NSW Public Purpose Fund.