previous practice (2012)

means any practice which shall have ceased to exist as such for whatever reason, including by reason of:

(i)

any death, retirement or addition of principals; or

(ii)

any split or cession of the whole or part of its practice to another without any change of principals.

member (2012)

(i)

means:

(A)

in relation to a company, a person who has agreed to be a member of the company and whose name is entered in the company's register of members; and

(B)

in relation to an LLP, a member of that LLP; save that

(ii)

for the purposes of the SRA Indemnity Rules, means a member of a practice, being:

(A)

any principal (including any principal) therein;

(B)

any director or officer thereof, in the case of a recognised body or a licensed body which is a company;

(C)

any member thereof in the case of a recognised body or a licensed body which is an LLP;

(D)

any recognised body or a licensed body which is a partner or held out to be a partner therein and any officer of such recognised body or a licensed body which is a company, or any member of such recognised body or a licensed body which is an LLP;

(E)

any person employed in connection therewith (including any trainee solicitor);

(F)

any solicitor or REL who is a consultant to or associate in the practice;

(G)

any foreign lawyer who is not an REL and who is a consultant or associate in the practice; and

(H)

any solicitor or foreign lawyer who is working in the practice as an agent or locum tenens, whether he or she is so working under a contract of service or contract for services;

and includes the estate and/or personal representative(s) of any such persons.

relevant indemnity period (2012)

in relation to contributions or indemnity means that indemnity period in respect of which such contributions are payable or such indemnity is to be provided in accordance with the SRA Indemnity Rules.

fund (2012)

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

Society (2012)

means the Law Society, in accordance with section 87 of the SA.

contributions (2012)

means contributions previously made to the fund in accordance with Part III of the Solicitors' Indemnity Rules 2007 (or any earlier corresponding provisions), and any additional sums paid in accordance with Rule 16 of the SRA Indemnity Rules.

principal (2012)

(i)

subject to paragraphs (ii) to (iv) means:

(A)

a sole practitioner;

(B)

a partner in a partnership;

(C)

in the case of a recognised body which is an LLP or company, the recognised body itself;

(D)

in the case of a licensed body which is an LLP or company, the licensed body itself;

(E)

the principal solicitor or REL (or any one of them) employed by a non-solicitor employer (for example, in a law centre or in commerce and industry); or

(F)

in relation to any other body, a member of its governing body;

(ii)

in the SRA Authorisation Rules, SRA Practice Framework Rules and SRA Practising Regulations, means a sole practitioner or a partner in a partnership;

(iii)

in the SRA Indemnity Insurance Rules means:

(A)

where the firm is or was:

(I)

a sole practitioner - that practitioner;

(II)

a partnership - each partner;

(III)

a company with a share capital - each director of that company and any person who:

(01)

is held out as a director; or

(02)

beneficially owns the whole or any part of a share in the company; or

(03)

is the ultimate beneficial owner of the whole or any part of a share in the company;

(IV)

a company without a share capital - each director of that company and any person who:

(01)

is held out as a director; or

(02)

is a member of the company; or

(03)

is the ultimate owner of the whole or any part of a body corporate or other legal person which is a member of the company;

(V)

an LLP - each member of that LLP, and any person who is the ultimate owner of the whole or any part of a body corporate or other legal person which is a member of the LLP;

(B)

where a body corporate or other legal person is a partner in the firm, any person who is within paragraph (A)(III) of this definition (including sub-paragraphs (01) and (03) thereof), paragraph (A)(IV) of this definition (including sub-paragraphs (01) and (03) thereof), or paragraph (A)(V) of this definition;

(iv)

in the SRA Indemnity Rules, means:

(A)

a solicitor who is a partner or a sole solicitor within the meaning of section 87 of the SA, or an REL who is a partner, or who is a sole practitioner, or an RFL or non-registered European lawyer who is a partner, and includes any solicitor, REL, RFL or non-registered European lawyer held out as a principal; and

(B)

additionally in relation to a practice carried on by a recognised body or a licensed body alone, or a practice in which a recognised body or a licensed body is or is held out to be a partner:

(I)

a solicitor, REL, RFL or non-registered European lawyer (and in the case of a licensed body any other person) who:

(01)

beneficially owns the whole or any part of a share in such recognised body or licensed body (in each case, where it is a company with a share capital); or

(02)

is a member of such recognised body or licensed body (in each case, where it is a company without a share capital or an LLP or a partnership with legal personality); or

(II)

a solicitor, REL, RFL or non-registered European lawyer (and in the case of a licensed body any other person) who is:

(01)

the ultimate beneficial owner of the whole or any part of a share in such recognised body or licensed body (in each case, where the recognised body or licensed body is a company with a share capital); or

(02)

the ultimate owner of a member or any part of a member of such recognised body or licensed body (in each case, where the recognised body or licensed body is a company without a share capital or an LLP or a partnership with legal personality).

person (2012)

includes a body of persons (corporate or unincorporated).

panel solicitors (2012)

means any solicitors appointed by the Solicitors Indemnity Fund in accordance with Rule 14.15 of the SRA Indemnity Rules.

expired run-off claim (2012)

means any claim made against the fund for indemnity under the SRA Indemnity Rules in respect of which no preceding qualifying insurance remains in force to cover such claim, by reason only of:

(i)

the run-off cover provided or required to be provided under the policy having been activated; and

(ii)

the sixth anniversary of the date on which cover under such qualifying insurance would have ended but for the activation of such run-off cover having passed; or

(iii)

(in the case of a firm in default or a run-off firm) the period of run-off cover provided or required to be provided under arrangements made to cover such claim through the ARP having expired.