The Bar Council in its effort to enforce the SRO had, on July 12 2005 written to Hong Leong Bank Berhad (“HLBB”) pertaining to preparation of loan documentations in respect of loans or facilities which are at “Zero Cost” to borrowers.
Subsequently, HLBB replied via their letter dated September 7 2005 stating that as regards conveyancing lawyers, they have instructed all their Branches to abide by the SRO in respect of fees and disbursements. A copy of the reply from HLBB can be downloaded by clicking here.
In addition, in the course of enforcement of the SRO, kindly be informed that the Bar Council had also received a positive response from AmBank Berhad whereby they will abide by the SRO.
Such favourable responses from financial institutions are no doubt a step forward in the enforcement of the SRO. Further thereto, may it spur members to abide strictly by the SRO and not yield to demands for discount/rebate of professional fees.
The Bar Council through the Solicitors Remuneration Enforcement Committee shall continue to take all requisite measures to enforce the SRO in the interest of our members.
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