Establishment and maintenance of fund

You are reading current version in effect from 30 September 2023

Glossary terms (11)

Glossary terms

SRA

means the Solicitors Regulation Authority

Indemnity Fund

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

SA

means the Solicitors Act 1974.

AJA

means the Administration of Justice Act 1985

indemnity period

means:

in the SRA Indemnity Insurance Rules and the MTC, 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
in the SRA Indemnity Fund 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.

contributions

means contributions previously made to the fund in accordance with Part III of the Solicitors' Indemnity Rules 2012 (or any earlier corresponding provisions), and any additional sums paid in accordance with Rule 16 of the SRA Indemnity Fund Rules.

solicitor

means a person who has been admitted as a solicitor of the Senior Courts of England and Wales and whose name is on the roll.

recognised body

means a body recognised by the SRA under section 9 of the AJA

REL

means a European lawyer registered in the register of European lawyers

RFL

means a foreign lawyer registered in the register of foreign lawyers

person

includes a body of persons (corporate or unincorporated)