Scheme Disclosure

Professional Standards legislation governing the scheme states that you must tell your clients about the scheme by disclosing limited liability on stationery and business documentation. As a member under the scheme, you must include a disclaimer on all documents you give to current and prospective clients, including:

• All business stationery, but not business cards
• Emails
• Facsimiles
• Web-pages
• Newsletters and other publications
• Memorandum of fees and invoices unaccompanied by a separate document with the disclosure statement.

The wording you MUST use is as follows:Liability limited by a scheme approved under Professional Standards Legislation.This statement is designed to give consumers clear notice that you operate under an approved Professional Standards Scheme.It must be printed in a size not less than Times New Roman 8-point font.Please do not alter or add words to the prescribed disclaimer.Why do you need to disclose your limited liability?Failure to use the prescribed disclosure statement as outlined above would place you in breach of the Professional Standards legislation. This means that, if a negligence claim is made against you, you may not be protected by the Limited Liability in court.But meeting your legal obligations isn’t the only reason to display the disclosure statement. By advertising your participation in a Professional Standards Scheme, the statement shows your clients you’re committed to meeting high standards of professionalism and consumer protection.Refer to the Professional Standards fact sheet attached in this email.