Same numbered gap in the text.

For each question 31-36, write the new word in CAPITAL LETTERS on your

Answer sheet.

Ruling on Proceeds of Crime Act

The Court of Appeal has ruled that lawyers do not have to report their clients

Under the money-laundering rules if they suspect them of tax (31) . or

Even the most minor financial (32) ..

Uncertainty had arisen because Section 328 of the Proceeds of Crime Act

Makesit an (33) . . for a personto be involvedin an arrangement

Which he knows or suspects would (34) (by whatever means) the

Acquisition, retention, use or control of criminal property by or on behalf of

Another person.

Lawyers had been taking the view that to avoid (35) . proceedings or

Prosecution when in receipt of suspicious information from clients under

Circumstances of legal privilege, they had to make a (36) to the

National Criminal Intelligence Service and obtain consent to continue.

EVADE

REGULAR

OFFEND

FACILE

DISCIPLINE

DISCLOSE

ILECpractice test

E

Part 4

Questions 37-42

Read the questions below and the extract on the opposite page from a journal

Article about client selection.

Which section (A, B, C or D) does each question 37-42 refer to?

For each question 37-42, mark one letter (A, B, C or D) on your answer sheet.

You will need to use some of these letters more than once.

There is an example at the beginning (0).

Example: 0 It is important for a firm to follow an existing procedure.

~ ABC D I

0 ====

A firm may act with undue haste if it has failed to anticipate adverse economic

Conditions.

A financial outcome for a firm may be the reverse of that intended.

It can be prudent for a firm to move into a specialty that is less affected by

Fluctuations in the economy.

40 A bad decision may result in a drain on a firm's resources.

It is undesirable for commercial pressures to determine the continuation or

Otherwise of representation.

A firm may underestimate the requirements of an aspect of law in which it

Lacks experience.

The Prudent Course

Ethical and Practical Considerations in Client Selection

A Like many other segments of society, law firms keenly feel the effects of an economic

Downturn. Corporations carefully examine their bottom line, and ask lawyers to deliver

More for less. In such circumstances a law firm has several options to increase its

Profitability. Seeking to enhance or establish a practice in an area of law that seems

Impervious to economic swings, or in an emerging area with a high demand for legal

Services, is one logical response. In fact, it is a most judicious response if a firm is willing

To expend the resources - time and money - to become immersed in the area.

B Law firms with a long-range plan are generally better positioned to weather an economic

Downturn. A problem arises, however, when a firm, without a plan for survival, reacts

precipitously when its client base and/or income begin to decrease dramatically. For

Date: 2015-12-11; view: 1677