The Legal Profession Legal Practice (Solicitors) Rules 2015 (Rules) rule 11.3 says that Solicitors must use the LIV form of solicitor’s certificate.
Only the forms approved by the Law Institute of Victoria will be used. The solicitor’s certificate package was launched in consultation with the Australian Banking Association (ABA). https://lplc.com.au/resources/practice-risk-guides/managing-mortgage-risk
Rule 11 of the Legal Profession Uniform Legal Practice (Solicitors) Rules 2015 requires use of various forms referred to in that rule when Australian legal practitioners explain security documents to borrowers and guarantors, as follows:
- Law Institute of Victoria Australian Legal Practitioner’s Certificate 1 (Schedule 1) (PDF) Client is the direct borrower or is a security provider referred to in the documents as the borrower.
- Law Institute of Victoria Australian Legal Practitioner’s Certificate 2 (Schedule 2) (PDF) where the client is a third-party guarantor, surety mortgagor or indemnifier for the principal borrower.
- Law Institute of Victoria Certificate by Translator/Interpreter (Schedule 3) (PDF)
- Law Institute of Victoria Form of Acknowledgement given by a Borrower or Surety to the Certifying Australian Legal Practitioner (Schedule 4) (PDF).