$1.8 million COVID-19 package to support practitioners

authority for the withdrawal of money from a general trust account of the practice,

Given the difficult circumstances the Council of the Society has resolved as follows:

That, pursuant to Regulation 56, the Society waives the notification requirements under Regulation 33(3)(b) with respect to April 2020 on the proviso that practitioners respond

to specific requests by Society officers for such information in a timely manner.

Please note that the waiver only relates to the requirement to notify the Society.

Ethics & Practice Visits and Legal Practice Advice

Trust Account inspections will be postponed or completed remotely, eg via correspondence if appropriate. The relevant law practices will be separately contacted.

If legal practitioners have any concerns about practice arrangements as a result of the spread of COVID-19 please do not hesitate to contact the Ethics and Practice Unit of the Society by phone 8229 0200 or email (ethicsandpractice@lawsocietysa.asn.au) for advice and assistance.

Practitioners are also encouraged to refer to Society’s COVID-19 webpage for further information and support. B

The Law Society is proud to announce a once-off $1.8 million rebate support package to help Members and insureds during the COVID-19 crisis.

The once-off package includes: • Membership discounts of 23-24% for most members and up to 85% for low fee earners, subject to renewal by 30

September • a 15% rebate on all CPD events for the 2020-21 financial year* • a $500 Administration Fee rebate for every insured practitioner • Members eligible for the 20% or 50% reduced PI contribution for Low Fee Earners will automatically receive the corresponding Low Fee Earner membership rate • Expansion of the eligibility criteria for the Non-practising Admitted member category to include members stood down or made redundant due to COVID-19 • The continuation of a 10-month repayment plan on renewal fees

The Society has taken these extreme measures in response to the financial hardship many practitioners are facing due to the unprecedented pandemic. The Society has had to substantially dip into its reserves to provide this relief package, with the measures as approved by Executive based on a detailed financial analysis to determine the maximum amount that the Society can release. The Society has worked hard to provide the highest possible subsidies while maintaining financial viability. The rebate applied to the Administration Fee on Professional Indemnity Insurance will be funded from the PI Fund.

MEMBERSHIP DISCOUNT TABLE

CLASSIFICATION

Principals, Employed, Sole Practitioners admitted for more than 3 years Principals, Employed, Sole Practitioners admitted for less than 3 years Government (including Legal Services Commission) and Corporate Barrister Low Fee Earner 50 Low Fee Earner 20 Not Practicing Interstate Overseas

2020 MEMBERSHIP FEES

$876

REBATE MEMBERSHIP FEES AFTER

REBATE

$208 $668

DISCOUNT

$529

$356

$658 $876 $876 $213 $233 $264 $123

$83

$153 $540 $742 $50 $47 $64 $406

$273

$505 $336 $134 $163 $186 $200

Importantly, the package will not impact the level and range of services provided by the Society. We are committed to serving our members as best we can, especially in these trying times.

Once again, the Society has an arrangement with Westpac through which renewals (Professional Indemnity Insurance, Practising Certificates and Membership) can be paid by instalments over 10 months at the below interest rates:

$ SUBJECT TO FINANCE

More than $50,000 $20,000 to $50,000 $5000 to $20,000

INTEREST RATE

2.2% 2.8% 3.5% Membership fees by monthly instalments, interest free.

We hope these measures provide some relief for practitioners who are doing it tough at the moment. We are here to support you any way we can.

The Council and Executive convey their appreciation to Lawguard Management Pty Limited for their assistance in this process.

Members are not required to do anything to claim the rebates – they will be automatically applied. If you have any questions about which rebates you are eligible for, don’t hesitate to contact Member Services: (08) 8229 0200 or email. * CPD rebate will apply to all Admitted Members who have completed their renewal by 30 September 2020 (including those who have entered an instalment plan) B