48F   Sharing receipts

(1)  A barrister or solicitor may share with any other person the receipts of a business of the kind ordinarily conducted by a barrister or solicitor, except to the extent (if any) that the regulations, barristers rules, solicitors rules or joint rules otherwise provide.

(2)  This section does not authorise a barrister or solicitor who is employed under a contract of service by a person who is not a barrister or solicitor to share with the employer the receipts of any business conducted by the barrister or solicitor on behalf of the employer.

(3)  However, this section does not affect any business conducted by barristers or solicitors on behalf of their employer if the business:

(a)  concerns a proceeding or transaction to which the employer or a related body is a party, or

(b)  is of a kind prescribed by the regulations or is carried out in circumstances of a kind prescribed by the regulations.

(4)  For the purposes of this section, a body is related to an employer if the body and the employer are related to each other in terms of section 50 of the Corporations Act 2001 of the Commonwealth.

(5)  Despite anything to the contrary in this section, a solicitor may share with an incorporated legal practice the receipts of the business of the practice. The regulations, solicitors rules or joint rules may not prevent or restrict the solicitor from doing so.