The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.
Grants to practitioners
Version 21 of the Handbook was published on 06/12/2018. For more information, please click 'History' Above
Rule 6: Grants to practitioners
A grant may be made to a defaulting practitioner who or which has suffered or is likely to suffer loss by reason of his, her or its liability to any client in consequence of some act or default of:
in circumstances where but for the liability of that defaulting practitioner a grant might have been made from the Fund to some other person.
A grant under rule 6.1 shall normally be made by way of a loan and shall be repayable by the recipient at the time and upon such terms as shall be specified by the SRA.
In the case of a defaulting recognised body or a defaulting licensed body, such grant may be payable to one or more of the managers of the defaulting recognised body or defaulting licensed body. If a loan is made to more than one manager, they shall be jointly and severally liable for the repayment of the loan to the Society.