SRA Standards and Regulations
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SRA Indemnity Fund Rules
Indemnity limit
Save in relation to an expired run-off claim, in respect of which the provisions of Rule 8.5 shall apply, the indemnity limit shall be £1,000,000 each and every claim (including claimants' costs).
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SRA Indemnity Fund Rules
Conditions
The previous practice and each member thereof shall procure that notice to the SRA shall be given in writing as soon as practicable of: any claim(s) the subject of Rule 8 made or intimated during the relevant indemnity period against it, him or her of any claim for or likely to be for more than £500; or the receipt by it, him or her of notice of any intention to make any such claim(s). The...
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SRA Indemnity Fund Rules
Arbitration
If a dispute arises between: a person who seeks indemnity from the Indemnity Fund in accordance with these Rules, and the SRA concerning any claim or the quantum of any claim that is the subject of the indemnity being sought from the Indemnity Fund by the person, the person and the SRA shall endeavour to resolve the dispute amicably. If, however, the dispute remains unresolved within [thirty...
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SRA Indemnity Fund Rules
Powers of the SRA
The SRA shall hold, and have full power to manage and administer, the Indemnity Fund, subject only to: such directions, conditions and/or requirements as the SRA may from time to time issue to or impose upon it expressly pursuant to this provision, and/or such further detailed arrangements as the SRA may from time to time agree with it. Without limiting the generality of Rule 17.1, the...
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SRA Indemnity Fund Rules
Decisions by the Society
The Society shall have power to treat any person as complying with any provision of these Rules for the purposes of the SA notwithstanding that the person has failed to comply with any provision of these Rules where such non-compliance is regarded by the Society in a particular case or cases as being insignificant.
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SRA Indemnity Fund Rules
Maintenance and termination of the fund
The Indemnity Fund shall continue to be held, managed and administered by the SRA for so long as and to the extent that the SRA may consider necessary or appropriate for the purpose of providing indemnity in respect of any claim(s) made or intimated during any indemnity period and/or during or subsequent to any indemnity period arising out of circumstances notified during any indemnity period...
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SRA Indemnity Fund Rules
Maintenance and termination of the fund
The Indemnity Fund shall continue to be held, managed and administered by the SRA for so long as and to the extent that the SRA may consider necessary or appropriate for the purpose of providing indemnity in respect of any claim(s) made or intimated during any indemnity period and/or during or subsequent to any indemnity period arising out of circumstances notified during any indemnity period...
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SRA Assessment of Character and Suitability Rules
Disclosure and evidential requirements
Subject to rule 6.3 below, on making an application under any of the provisions set out in rule 1.1, you must disclose all matters, wherever they have taken place (including overseas), which are relevant to the SRA's assessment of your character and suitability, including, where practicable, any information set out in Table 4 which is relevant to the matter in question. On making an...
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SRA Assessment of Character and Suitability Rules
Application
These rules apply where the SRA is making a decision as to whether it is satisfied regarding your character and suitability: on early assessment under regulation 5.2 of the SRA Authorisation of Individuals Regulations; at admission or restoration to the roll under regulations 1.1, 3.1, 3A.1, 3F.1, 4.1 and 5.9 of the SRA Authorisation of Individuals Regulations; on approval as an authorised...
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