Federal prescription of the Professional Standards Scheme

06/03/2013

Professional Standards Scheme

The Bar Association is pleased to advise members that its Professional Standards Scheme has now been prescribed under the Australian Securities and Investments Commission Act 2001 (ASIC Act) and the Corporations Act 2001 (the CA), effective on 1 March 2013. **Prescription of the scheme under the Trade Practices Act, ASIC Act and CA ensures that the state professional standards laws cannot be bypassed by litigants attempting to access uncapped payouts under those Acts. Learn more here. **6 March 2013