Law Society of South Australia Limitation of Liability Scheme
Cap your Occupational Liability
The Society’s Limitation of Liability Scheme was granted a six month extension from 1 January to 30 June 2017.
This extension allows for a period of transition to shift the Scheme renewal from calendar year to financial year, so that the renewal aligns with the Practising Certificates, Law Society Membership and PI Insurance (all of which are pre-conditions for participating in the Limitation of Liability Scheme). It is anticipated that aligning these renewals will make it easier for practitioners and firms.
A new Scheme has been approved by the Attorney-General and gazetted in the SA Government Gazette. The new Scheme will operate from 1 July 2017 for a period of five years. The new Scheme will be known as the:
Law Society of South Australia Professional Standards Scheme
to reflect that the Scheme operates under the Professional Standards Act 2004 (SA) and the associated interstate Professional Standards legislation, and under the governance of the Professional Standards Councils.
The new Scheme also reflects the commitment by the Society and its members to standards of professional excellence.
The new Scheme document can be viewed here .
Professional benefits for LSSA Members
The Law Society of South Australia operates a Limitation of
Liability Scheme with the Professional Standards Council (PSC) pursuant
to the Professional Standards Act
2004. Practitioner Members
of the Society (including Barrister Members) can benefit from the
Scheme, by having their occupational liability capped to an amount of
$1.5M or $10M depending on the number of practitioners of the law
practice and the annual fee income of the law practice, provided those
Practitioner Members choose to participate in the Scheme (refer Scheme
The Attorney-General (SA) gazetted the Scheme on 3 November 2011, for
commencement on 1 January 2012.
The Scheme operates on a “one-in,
all-in basis”. For a law practice to gain the full
benefit of the Scheme and the limitation of liability, all solicitors
(i.e. any person who holds a current Practising Certificate) within the
law practice and any ILP, will need to be Members of the LSSA and choose to participate
in the LSSA Scheme.
Members should note that the Scheme is an “opt out" Scheme. Any Practitioner Member of the Society who does not want to take
advantage of the Scheme will need to seek exemption from the Scheme by
completing the relevant part of the Participation / Exemption form and
returning it to the Scheme Manager.
Members wishing to participate in the Scheme will need to complete the
relevant part of the Participation/Exemption form and return the
The fee for the period 1 January 2017 to 30 June 2017 is $142.70, inclusive of the registration fee payable to the Professional Standards Council.
From 1 July 2017, the Scheme will operate on the financial year, in order to align with practising certificates, membership and PI insurance.
Completed forms and relevant fees should be lodged with the Scheme
Society non-Members wishing to take advantage of the Scheme would need
to first join the Society. If you would like further information about
membership, please contact the Manager (Member Services), Michelle King via email: Michelle.King@lawsocietysa.asn.au
Disclosure requirements for Scheme members
Participants in the Scheme MUST disclose their limited liability status
on all written correspondence and on their website using the wording
“Liability limited by a scheme approved under professional standards
Further information is available from the Scheme Manager, or via the
Professional Standards Council website. Non-disclosure is an offence
under the Act.
From 1 July 2017, the Cover of Excellence logo will no longer be in use. Firms using the logo should phase out its use.
Frequently Asked Questions
Limitation of Liability Scheme Question and Answer Sheet.
Standards Act 2004 (SA)
Standards Regulations 2006 (SA)
Professional Standards Council website
Limitation of Liability Scheme document (gazetted as the LSSA’s
Professional Standards Scheme)
Participation/Exemption form ILP
Disclosure & Cover of Excellence your obligations
Limitation of Liability Scheme Committee
The Limitation of Liability Scheme (LLS) Committee was established by
the Council on 28 November 2011 and its composition and Terms of
Reference were adopted by the Council on 21 December 2011. The
Committee oversees the operation of the Society’s Limitation of
Liability Scheme. The Council has delegated to the Committee authority
to act within its Terms of Reference.
The Committee comprises the following Members (all
In the first instance, please download the Limited Liability Scheme
Question and Answer Sheet. If the Question and Answer sheet does not
address your query, please contact the Scheme Manager, Ms Mia Bell,
Tel: 8229 0225; Email: email@example.com
the Chief Executive, Mr Stephen Hodder, Tel: 8229 0200.