M 18 CAP. 159] Solicitors (Professional Indemnity) Rules
[Subsidiary]
[1989 Ed.
(iii) if such former solicitor was in practice in partnership immediately before he ceased to be a solicitor in practice in Hong Kong, an amount of $350,000 multiplied by the number of partners in that partnership immediately before he ceased to be a solicitor in practice in Hong Kong;
(iv) if such former solicitor was in practice in partnership immediately before he ceased to be a solicitor in practice in Hong Kong and one or more assistant solicitors or consultants were employed in that practice, an amount of $350,000 multiplied by the number of partners in that partnership plus an amount of $200,000 multiplied by the largest number of assistant solicitors and consultants employed at any one time in that practice within the 12 months preceding the date on which he ceased to be a solicitor in practice in Hong Kong;
(v) if such former solicitor was in practice as an assistant solicitor or consultant immediately before he ceased to be a solicitor in practice in Hong Kong, $200,000.
(2) (a) Where a former solicitor ceased to be a solicitor in practice in Hong Kong on or after 1 October 1986, he shall be provided with indemnity for that part of his loss which exceeds the amount set out in sub-subparagraph (b) up to but not exceeding the difference between the relevant amount set out in sub-subparagraph (b) and $5,000,000 in respect of any one claim.
(b) For the purpose of sub-subparagraph (a), such former solicitor shall not be provided with indemnity in respect of-
(i) the first $30,000 of any one claim where he was in practice as a sole practitioner at the date when he ceased to be a solicitor in practice;
(ii) the first $20,000 of any one claim where he was in practice as a partner at the date when he ceased to be a solicitor in practice in Hong Kong;
(iii) the first $15,000 of any one claim where he was in practice as an assistant solicitor or consultant at the date when he ceased to be a solicitor in practice in Hong Kong.
4.
Related costs
For the purpose of calculating the indemnified's loss in any one claim, related costs shall be aggregated with the sum paid in respect of such claim and claimant's costs.
5.
Recoveries subsequent to claim settlement
All recoveries or payments recovered or received subsequent to a claim settlement shall be applied as if recovered prior to such settlement and all necessary adjustments shall then be made between the indemnified and the Company.
6.
Maximum liability of the fund
(1) The aggregate liability of the fund for all claims arising from the same act or omission (whether or not made or intimated or arising out of circumstances notified during the same indemnity period) against any practice or any member of that practice or both entitled to indemnity under these rules shall in no event exceed in total the indemnity limit determined in accordance with paragraph 2.
(2) If a payment exceeding the indemnity limit is made to dispose of any claim or claims for loss (including relevant costs) the amount of any such relevant costs shall be limited to such proportion of such relevant costs as the indemnity limit bears to the amount of the payment so made.
7.
Non-compliance
(1) Where non-compliance with any of these rules by any practice or any member thereof or any former solicitor claiming to be entitled to indemnity has resulted in prejudice to the handling or