Levy for benefit of fidelity fund
369 Levy for benefit of fidelity fund
This section applies if, at a particular time, the law society believes that the fidelity fund is not sufficient to satisfy the liabilities of the fidelity fund at or about that time.
The law society may, by resolution, impose on each local legal practitioner who must pay a contribution under section 368 for the relevant financial year, or local legal practitioners of a particular class, a levy of an amount that the law society considers reasonable.
Without limiting section 231, the administration rules of the law society may provide for different levies to be payable by different classes of local legal practitioners or law practices.
The amount of the levy is payable into the fidelity fund by a date and in a way stated in the resolution.
This Act’s bill:Explanatory memorandum
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