Society (2012)

means the Law Society, in accordance with section 87 of the SA.

principal (2012)

(i)

subject to paragraphs (ii) to (iv) means:

(A)

a sole practitioner;

(B)

a partner in a partnership;

(C)

in the case of a recognised body which is an LLP or company, the recognised body itself;

(D)

in the case of a licensed body which is an LLP or company, the licensed body itself;

(E)

the principal solicitor or REL (or any one of them) employed by a non-solicitor employer (for example, in a law centre or in commerce and industry); or

(F)

in relation to any other body, a member of its governing body;

(ii)

in the SRA Authorisation Rules, SRA Practice Framework Rules and SRA Practising Regulations, means a sole practitioner or a partner in a partnership;

(iii)

in the SRA Indemnity Insurance Rules means:

(A)

where the firm is or was:

(I)

a sole practitioner - that practitioner;

(II)

a partnership - each partner;

(III)

a company with a share capital - each director of that company and any person who:

(01)

is held out as a director; or

(02)

beneficially owns the whole or any part of a share in the company; or

(03)

is the ultimate beneficial owner of the whole or any part of a share in the company;

(IV)

a company without a share capital - each director of that company and any person who:

(01)

is held out as a director; or

(02)

is a member of the company; or

(03)

is the ultimate owner of the whole or any part of a body corporate or other legal person which is a member of the company;

(V)

an LLP - each member of that LLP, and any person who is the ultimate owner of the whole or any part of a body corporate or other legal person which is a member of the LLP;

(B)

where a body corporate or other legal person is a partner in the firm, any person who is within paragraph (A)(III) of this definition (including sub-paragraphs (01) and (03) thereof), paragraph (A)(IV) of this definition (including sub-paragraphs (01) and (03) thereof), or paragraph (A)(V) of this definition;

(iv)

in the SRA Indemnity Rules, means:

(A)

a solicitor who is a partner or a sole solicitor within the meaning of section 87 of the SA, or an REL who is a partner, or who is a sole practitioner, or an RFL or non-registered European lawyer who is a partner, and includes any solicitor, REL, RFL or non-registered European lawyer held out as a principal; and

(B)

additionally in relation to a practice carried on by a recognised body or a licensed body alone, or a practice in which a recognised body or a licensed body is or is held out to be a partner:

(I)

a solicitor, REL, RFL or non-registered European lawyer (and in the case of a licensed body any other person) who:

(01)

beneficially owns the whole or any part of a share in such recognised body or licensed body (in each case, where it is a company with a share capital); or

(02)

is a member of such recognised body or licensed body (in each case, where it is a company without a share capital or an LLP or a partnership with legal personality); or

(II)

a solicitor, REL, RFL or non-registered European lawyer (and in the case of a licensed body any other person) who is:

(01)

the ultimate beneficial owner of the whole or any part of a share in such recognised body or licensed body (in each case, where the recognised body or licensed body is a company with a share capital); or

(02)

the ultimate owner of a member or any part of a member of such recognised body or licensed body (in each case, where the recognised body or licensed body is a company without a share capital or an LLP or a partnership with legal personality).

contributions (2012)

means contributions previously made to the fund in accordance with Part III of the Solicitors' Indemnity Rules 2007 (or any earlier corresponding provisions), and any additional sums paid in accordance with Rule 16 of the SRA Indemnity Rules.

practice (2012)

means the activities, in that capacity, of:

(i)

a solicitor;

(ii)

an REL, from an office or offices within the UK;

(iii)

a member of an Establishment Directive profession registered with the BSB under the Establishment Directive, carried out from an office or offices in England and Wales;

(iv)

an RFL, from an office or offices within England and Wales, as:

(A)

an employee of a recognised sole practice; or

(B)

a manager, employee, member or interest holder of an authorised body or a manager, employee or owner of an authorised non-SRA firm;

(v)

an authorised body;

(vi)

a manager of an authorised body;

(vii)

a person employed in England and Wales by an authorised body;

(viii)

a lawyer of England and Wales; or

(ix)

an authorised non-SRA firm;

and "practise" and "practising" should be construed accordingly; save for in:

(i)

the SRA Indemnity Insurance Rules where "practice" means the whole or such part of the private practice of a firm as is carried on from one or more offices in England and Wales;

(ii)

the SRA Indemnity Rules where it means a practice to the extent that:

(A)

in relation to a licensed body, it carries on regulated activities; and

(B)

in all other cases, it carries on private practice providing professional services as a sole solicitor or REL or as a partnership of a type referred to in Rule 6.1(d) to 6.1(f) and consisting of or including one or more solicitors and/or RELs, and shall include the business or practice carried on by a recognised body in the providing of professional services such as are provided by individuals practising in private practice as solicitors and/or RELs or by such individuals in partnership with RFLs, whether such practice is carried on by the recognised body alone or in partnership with one or more solicitors, RELs and/or other recognised bodies; and

(iii)

in the SRA Overseas Rules where it shall be given its natural meaning.

fund (2012)

means the fund maintained in accordance with the SRA Indemnity Rules.

person (2012)

includes a body of persons (corporate or unincorporated).