Incorporated legal practices (ILPs)
Since 1 July 2007, law practices in Queensland have been permitted to incorporate (see part 2.7 of the Legal Profession Act 2007 (Qld) (LPA)). The relevant regulations are contained in part 2.7 of the Legal Profession Regulation 2007 (Qld). For a comprehensive summary of the provisions, see our information kit for incorporated legal practices.
If your queries (other than structuring queries) are not covered by the information kit contact our Legal Practice Consultant.
The approved forms for ILPs are as follows:
Practice Structures
For guidance on ILP Practice Structures, Tax and Asset Protection, please see the paper delivered by Christopher Davis, Principal, McInnes Wilson Lawyers, at the QLS CLE workshop 'ILPs and Appropriate Management Systems' on Wednesday 3rd March 2010.
Legal Services Commission, Regulation and Appropriate Management Systems
Details of the Legal Services Commissions approach to the regulation of ILPs, including details of the self-assessment audit and copy of the relevant form, can be found at http://www.lsc.qld.gov.au/24.htm.
To assist members in completing the self-assessment audit form, QLS has also prepared some guidance on Appropriate Management Systems.
