1964_SOLICITORS_(PROFESSIONAL_INDEMNITY)_RULES — Page 15

1989 Ed.]

Solicitors (Professional Indemnity) Rules

[CAP. 159

M 15

[Subsidiary]

3.

4.

(a) to collect and recover contributions due to the fund in accordance with Schedule 1;

(b) to deposit or invest in such manner as the Company may determine all or any part of the fund, including any interest, dividends, profits, gains or other assets accruing to or acquired by the fund;

(c) to arrange such insurances as the Company may determine in respect of the fund and its assets and the fund's liability under these rules to provide Indemnity in respect of claims and costs and expenses; and to handle all aspects of any such insurances, including the payment of premiums thereon out of the fund and the making and recovery of claims thereunder;

(d) to receive, investigate and handle claims to Indemnity and other notices prescribed to be given to the Company by these rules, including settlement and compromise and making of ex gratia payments out of the fund in respect thereof and conduct of any dispute or difference referred to arbitration under rule 13;

(e) to investigate and handle any claim made or intimated against any indemnified or former solicitor in respect of which they are or may be entitled to be provided with Indemnity out of the fund or in respect of which the conduct is by these rules assigned to the Company, including settlement and compromise and making of ex gratia payments and conduct of any proceedings arising in respect of such claim;

(f) to claim and recover reimbursement in respect of any sums paid by way of Indemnity in any circumstances in which such reimbursement may under these rules be claimed;

(g) to exercise any right of subrogation, subject to paragraph 8(6) of Schedule 3;

(h) to maintain full and proper records and statistics (which, subject to paragraph 4, shall at all reasonable times be available on request to the Society for inspection and copying) as to the fund and all aspects of its management and administration;

(i) to make to and review with, the Council annually and at any other time that the Council may require, written and (if the Council so requires) oral reports as to the fund and, subject to paragraph 4, its management and administration, including recommendations as to the contributions which are or may be required in respect of past, present and future indemnity periods and the circumstances in which, extent to which and conditions and exclusions subject to which Indemnity should in any future indemnity period be provided out of the fund.

Additional powers

The Company shall further have full power-

(a) to engage the assistance of any third party in respect of any aspect of the management and administration of the fund;

(b) to delegate to any third party any aspect of the management and administration of the fund;

(c) to institute such proceedings and conduct such proceedings as it may consider necessary or appropriate for the due management and administration of the fund (including but not limited to the taking of proceedings to recover contributions due to the fund or any other payment payable in accordance with the terms of the Professional Indemnity Scheme from every principal liable to pay the same or from the firm in which he was a principal when the amount becomes due and payable) in its own name or (subject to prior consent of the Society) in the name of the Society;

(d) to disburse or reimburse out of the fund all administrative and legal and other costs, overheads, fees and other expenses and liabilities incurred in respect of the fund, including without prejudice to the generality of the foregoing any such costs, overheads, fees and other expenses and liabilities incurred by the Society in respect of the establishment or maintenance, or the management, administration or protection, of the fund.

Use of information and documents

Without prejudice to rule 18, information and documents obtained by the Company about any particular Practice or member thereof in the course of investigating and handling any claim made or intimated or any circumstances notified as is mentioned in rule 10(1) may be used by the Company for the purpose of preparation of general records, statistics, reports and recommendations (not

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