fund (2012)

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

relevant indemnity period (2012)

in relation to contributions or indemnity means that indemnity period in respect of which such contributions are payable or such indemnity is to be provided in accordance with the SRA Indemnity Rules.

indemnity period (2012)

means:

(i)

in the SRA Indemnity Insurance Rules, 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; and

(ii)

in the SRA Indemnity 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.

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.

previous practice (2012)

means any practice which shall have ceased to exist as such for whatever reason, including by reason of:

(i)

any death, retirement or addition of principals; or

(ii)

any split or cession of the whole or part of its practice to another without any change of principals.

member (2012)

(i)

means:

(A)

in relation to a company, a person who has agreed to be a member of the company and whose name is entered in the company's register of members; and

(B)

in relation to an LLP, a member of that LLP; save that

(ii)

for the purposes of the SRA Indemnity Rules, means a member of a practice, being:

(A)

any principal (including any principal) therein;

(B)

any director or officer thereof, in the case of a recognised body or a licensed body which is a company;

(C)

any member thereof in the case of a recognised body or a licensed body which is an LLP;

(D)

any recognised body or a licensed body which is a partner or held out to be a partner therein and any officer of such recognised body or a licensed body which is a company, or any member of such recognised body or a licensed body which is an LLP;

(E)

any person employed in connection therewith (including any trainee solicitor);

(F)

any solicitor or REL who is a consultant to or associate in the practice;

(G)

any foreign lawyer who is not an REL and who is a consultant or associate in the practice; and

(H)

any solicitor or foreign lawyer who is working in the practice as an agent or locum tenens, whether he or she is so working under a contract of service or contract for services;

and includes the estate and/or personal representative(s) of any such persons.

expired run-off claim (2012)

means any claim made against the fund for indemnity under the SRA Indemnity Rules in respect of which no preceding qualifying insurance remains in force to cover such claim, by reason only of:

(i)

the run-off cover provided or required to be provided under the policy having been activated; and

(ii)

the sixth anniversary of the date on which cover under such qualifying insurance would have ended but for the activation of such run-off cover having passed; or

(iii)

(in the case of a firm in default or a run-off firm) the period of run-off cover provided or required to be provided under arrangements made to cover such claim through the ARP having expired.