Hong Kong Lawyer

March 2017

Issue link: https://asianlegalbusiness.uberflip.com/i/795522

Contents of this Issue

Navigation

Page 13 of 107

Ms. Heidi Chu, Secretary General 秘書長朱潔冰律師 First Anniversary: Limited Liability Partnerships One year has elapsed since the introduction of Limited Liability Partnerships ("LLPs") for law firms in Hong Kong last March. There are currently 22 law firms practising as LLPs pursuant to the Legal Practitioners Ordinance. Eleven are Hong Kong law firms and 11 are registered foreign law firms, representing respectively 1.2 percent and 13.5 percent of the total number of Hong Kong firms and foreign firms. The uptake is modest but progressing steadily with five "conversions" to LLPs in the first month of implementation and then one to two new notifications nearly every subsequent month. Once a firm has made its decision to operate as an LLP, the procedure to put the decision into effect is relatively simple: • designate the partnership as an LLP by a written agreement between the partners; • ensure that the requisite top-up insurance cover of at least HK$10 million per claim above the statutory professional indemnity level with no aggregate limit is in place; • Notify the Law Society seven days prior to the firm's commencement as an LLP in a prescribed form; • ensure the name of the firm will include "Limited Liability Partnership", "LLP" or "L.L.P." and if it has a Chinese name, "有限法律責任合夥"; and the new name will be displayed clearly in all the firm's stationery and websites; • submit a commencement notification to the Law Society together with a declaration in relation to the compliance with the statutory top-up insurance requirement within 14 days of commencement as an LLP; • obtain a confirmation from the Law Society on the filing of the commencement notification; • submit an application for a revised business registration certificate from the Business Registration Office within seven days of the date of the Law Society confirmation; • submit the revised business registration certificate to the Law Society as supporting evidence of the change of the name of the firm; • send a notification to the existing clients of the firm within 30 days of it becoming an LLP ("existing client" is defined in the Ordinance as a person who is a client of the firm at the time the firm becomes an LLP); and • notify clients of the overall supervising partner(s) for their particular matter within 21 days of acceptance of instructions and keep them so informed throughout. 壹周年:有限法律責任合夥 香港在2016年3月1日引入適用於律師行的有限法律 責任合夥,時至今日已經滿了一年。目前有22間按照 《法律執業者條例》以有限法律責任合夥模式經營的 律師行。11間是香港律師行,11間是註冊外地律師 行,分別佔香港律師行總數及外地律師行總數1.2%及 13.5%。數目不算多,但增幅穩定,實施第一個月, 有五間「轉」為有限法律責任合夥,之後差不多每個 月都有一至兩間以新合夥模式經營的通知。 律師行一旦決定以有限法律責任合夥模式經營,只需 要進行相當簡單的程序就可以將決定付諸實現: • 合夥人以書面協議指明合夥關係為有限法律責任合 夥; • 確保除了法定的專業彌償額外,亦備有法例規定的 不少於每項彌償1,000萬港元的加額保險(總額不設 上限); • 律師行以有限法律責任合夥模式開業前最少七天, 以指定表格通知律師會; • 確 保 律 師 行 名 稱 包 含 L i m i t e d L i a b i l i t y Partnership、LLP或L.L.P.,如有中文名稱,則名稱 包含「有限法律責任合夥」,並且律師行所有文案 和網站俱清楚顯示新名稱; • 以有限法律責任合夥模式開業後14天內,向律師會 提交開業通知,並附上保證遵守法定加額保險規定 的聲明; • 向律師會索取確認收到開業通知的確認函; • 在律師會確認函日期七天內提交申請表,向商業登 記署申請經修訂的商業登記證; • 向律師會提交經修訂的商業登記證,作為律師行已 經改名的證據; • 在律師行成為有限法律責任合夥後30天內,向現有 當事人發出通知書(「現有當事人」在《條例》定義 為在該律師行成為有限法律責任合夥時屬其當事人 的人); • 在接受延聘處理某事宜的21天內,將至少一位該事 宜的整體監督合夥人的身分,告知當事人,並在處 理該事宜的整段期間,保持令該當事人知悉至少一 位該事宜的整體監督合夥人的身分。 FROM THE SECRETARIAT 律 師 會 秘 書處 資 訊 12 www.hk-lawyer.org •  March 2017

Articles in this issue

Links on this page

view archives of Hong Kong Lawyer - March 2017