TRANSACTION LEVY
Transaction Levy Guidelines Introduction
John Roil, QC, Chair of the Insurance Committee, developed Guidelines to provide members a quick overview of the Transaction Levy. The Guidelines are attached to this introduction.
You may find an updated copy of the Rule 10.04 to implement the Levy at www.lawsociety.nf.ca/rules.asp.
The intent of the Guidelines is to provide a consistent base from which members can make decisions about application of the Levy. In instances where the Rule or the Guidelines do not make clear the application, members are requested to write an appropriate note to the file indicating their decision whether the Levy applies. These good faith decisions by members will be accepted by the Law Society during the first year of Levy implementation and until the Insurance Committee can review and respond to enquiries that will arise.
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