6.PPS Safe Harbour Advisory Best Practice
Where a Client or former Client is subsequently subject to an Appointment, a Member
should, subject to:
- legal professional privilege,
- any other legal rights, or
- where the Member would be in breach of any other legal, professional or regulatory duty;
provide to the Appointee, when requested, copies of
- the Terms of Engagement and
- relevant Client deliverables provided to the Client in connection with the engagement.
There are no restrictions on the basis of Remuneration that can be applied for Advisory Services. As such, hourly rates, fixed fee, contingency, success fee or a
combination thereof are able to be used.
Members providing Advisory Services to Appointees should be aware of the Appointee’s fiduciary duties and the Appointee’s requirement to ensure that any
Remuneration for Advisory Services provided in an Administration is as agreed and is reasonable (refer PSI7: Disbursements and Expenses).