Cap 159H rule 5C Representation in conveyancing transactions (SOLICITORS' PRACTICE RULES; LEGAL PRACTITIONERS ORDINANCE)

Contents of Section

Chapter:	159H	Title:	SOLICITORS' PRACTICE RULES	Gazette Number:	L.N. 197 of 2004
Rule:	5C	Heading:	Representation in conveyancing transactions	Version Date:	12/02/2005

(1) Subject to subrules (2), (3), (4) and (5), a solicitor, or 2 or more solicitors practising in partnership or association, shall not act for both the vendor and the purchaser on a sale or other disposition of land for value.
(2) A solicitor, or 2 or more solicitors practising in partnership or association, may act for both the vendor and the purchaser in the sale and purchase of a unit or other interest in an uncompleted development in respect of which the consent of the Director of Lands is required to be given pursuant to the relevant Crown Grant or Government grant and also in the completion of such sale and purchase. (8 of 1993 s. 30; L.N. 291 of 1993; 29 of 1998 s. 49)
(3) A solicitor, or 2 or more solicitors practising in partnership or association, may act for both the vendor and the purchaser in the sale and purchase of a unit or other interest in an uncompleted development in respect of which the consent of the Director of Lands is not required and also in the completion of such sale and purchase if and only if- (L.N. 291 of 1993)

(a) he, or one of them, has deposited in the Land Registry a statutory declaration- (8 of 1993 s. 30; 20 of 2002 s. 5)

(i) in such form, and setting forth such facts, as the Council may, subject to the prior approval of the Chief Justice, from time to time specify; and

(ii) annexed to which are such documents as the Council may, subject to the prior approval of the Chief Justice, from time to time specify as documents to be so annexed; and

(b) the agreement for sale and purchase to be entered into by the vendor and the purchaser contains such clauses as the Council may, subject to the prior approval of the Chief Justice, from time to time specify for mandatory inclusion in the agreement. (8 of 1993 s. 30)

(4) A solicitor, or 2 or more solicitors practising in partnership or association, may act for both the vendor and the purchaser in the sale and purchase of a unit or other interest in a completed development by the owner of the whole development where in respect of the unit or interest no assignment has been executed since the date of the occupation permit or the certificate of compliance in respect of the development, whichever is required in respect of such sale and purchase, and if both are required, the earlier, and in the completion of such sale and purchase, if and only if the agreement for sale and purchase to be entered into by the vendor and the purchaser contains such clauses as the Council may, subject to the prior approval of the Chief Justice, from time to time specify for mandatory inclusion in the agreement.
(5) Where pursuant to subrule (2), (3) or (4), a solicitor or 2 or more solicitors practising in partnership or association act for both the vendor and the purchaser in the sale and purchase of a unit or other interest in a development, that solicitor or solicitors may also act for the purchaser and the sub-purchasers in the sub-sale and sub-purchase of the unit or interest and in the completion of the sub-sale and sub-purchase if and only if the agreement or agreements for sub-sale and sub-purchase to be entered into by the parties contain such clauses as the Council may, subject to the prior approval of the Chief Justice, from time to time specify for mandatory inclusion in such agreement or agreements.
(6) This rule shall not apply-

(a) if the parties are associated parties;

(b) to a sale or other disposition of land the consideration of which does not exceed $1000000 or such other amount as the Council may, subject to the prior approval of the Chief Justice, from time to time determine, and in respect of which there is no conflict of interest; (L.N. 227 of 1998)

(d) to a lease of land; or

(e) to a sale or other disposition of land in respect of which the contract for sale and purchase was entered into before the commencement of the Solicitors' Practice (Amendment) Rules 1989 (L.N. 154 of 1989).

(7) (Repealed L.N. 138 of 1993)
(8) This rule applies to 2 or more solicitors or firms conducting their businesses as members of the same group practice as it applies to any 2 or more solicitors practising in partnership or association. (L.N. 122 of 2002)

(L.N. 154 of 1989)