Corporations Amendment (Litigation Funding) Regulations 2021 (F2021L01608)

Schedule 1   Amendments

Part 1   Licence conditions

Corporations Regulations 2001

1   Paragraph 7.6.01AB(2)(a)

Repeal the paragraph, substitute:

(a) maintain, for the duration of the insolvency litigation funding scheme or litigation funding arrangement, adequate practices for:

(i) managing any conflict of interest that may arise in relation to activities undertaken by the person, or an agent of the person, in relation to the scheme or arrangement; and

(ii) ensuring that a lawyer providing services in relation to the scheme or arrangement, and any immediate family member of such a lawyer, do not have or obtain a direct or indirect material financial interest in the person; and