Establishment and maintenance of fund
You are reading current version in effect from 1 October 2023
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You are reading current version in effect from 1 October 2023
Glossary terms
SRA
means the Solicitors Regulation Authority
Indemnity Fund
means the fund maintained in accordance with the SRA Indemnity Fund Rules.
SA
means the Solicitors Act 1974.
AJA
means the Administration of Justice Act 1985
indemnity period
means:
- in the SRA Indemnity Insurance Rules and the MTC, the period of one year starting on 1 September 2000, 2001 or 2002, the period of 13 calendar months starting on 1 September 2003, or the period of one year starting on 1 October in any subsequent calendar year
- in the SRA Indemnity Fund Rules, the period of one year commencing on 1 September in any calendar year from 1987 to 2002 inclusive, the period of 13 calendar months commencing on 1 September 2003, and the period of one year commencing on 1 October in any subsequent calendar year.
contributions
means contributions previously made to the fund in accordance with Part III of the Solicitors' Indemnity Rules 2012 (or any earlier corresponding provisions), and any additional sums paid in accordance with Rule 16 of the SRA Indemnity Fund Rules.solicitor
means a person who has been admitted as a solicitor of the Senior Courts of England and Wales and whose name is on the roll.
recognised body
means a body recognised by the SRA under section 9 of the AJA
REL
means a European lawyer registered in the register of European lawyers
RFL
means a foreign lawyer registered in the register of foreign lawyers
person
includes a body of persons (corporate or unincorporated)