1964_SOLICITORS_(PROFESSIONAL_INDEMNITY)_RULES — Page 14

M 14

CAP. 159]

Solicitors (Professional Indemnity) Rules

[1989 Ed.

[Subsidiary]

(ix) If claims so paid exceed 700% of the total amount of premiums or contributions paid in respect of the Practice in the 4 indemnity periods preceding the indemnity period but do not exceed 800% of premiums or contributions so paid, a factor of 2.63 shall be applied to the contribution.

(x) If claims so paid exceed 800% of the total amount of premiums or contributions paid in respect of the Practice in the 4 indemnity periods preceding the indemnity period but do not exceed 900% of premiums or contributions so paid, a factor of 2.88 shall be applied to the contribution.

(xi) If claims so paid exceed 900% of the total amount of premiums or contributions paid in respect of the Practice in the 4 indemnity periods preceding the indemnity period but do not exceed 1000% of premiums or contributions so paid, a factor of 3.00 shall be applied to the contribution.

(xii) If claims so paid exceed 1000% of the total amount of premiums or contributions paid in respect of the Practice in the 4 indemnity periods preceding the indemnity period, a factor of 3.50 shall be applied to the contribution.

Decisions by the Council

For the purpose of determining the amount of any contribution required by these rules, the Council's decision shall be final and binding on all persons affected on any question arising as to-

(a) the maximum amount of contribution or basic contribution payable for any indemnity period;

(b) the number of principals in a firm at any date;

(c) the number of unqualified staff employed for the purpose of the Practice at any date;

(d) the number of assistant solicitors and consultants in a firm at any date;

(e) any information or other matter on the basis of which any adjustment in contribution is assessed in accordance with paragraph 2(1)(b)(iv);

(f) the amount of any additional contribution to meet the amount of any deficit or anticipated deficit under paragraph 2(5);

(g) the calculation of the amount of any claim paid and claims loading under paragraph 2(6) and all matters which are to be included or excluded when establishing the amount of claims paid;

(h) the date on which a Practice becomes a former Practice.

4. No refund of contributions

A contribution is not refundable.

SCHEDULE 2

(rule 5)

MANAGEMENT AND ADMINISTRATION OF FUND

1. Power of Company to manage fund

The Company shall hold, and have power to manage and administer, the fund, subject only to--

2. (a) such directions, conditions and requirements as the Society may from time to time issue to or impose upon it; and

(b) such arrangements as the Society may from time to time agree with it.

General powers

Without prejudice to the generality of paragraph 1 the management and administration of the fund shall include power-