Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

The amendment relates to limited liability practices. Subject to appropriate fees, the legal services regulation authority will operate a system of authorisation and registration of partnerships which wish to become limited liability practices. The authority will also maintain a publicly available register of these practices. Protection will be provided for the consumer in the form of an obligation on firms to have substantial professional indemnity insurance cover. The authorisation to operate as a limited liability practice will be subject to the existence and maintenance of such insurance. Where the correct insurance is not in place, the liability will fall. This is provided for in section 109(4) and (5) and inserted by amendment No. 199, which is the amendment the Deputy had in mind.

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