New South Wales Consolidated Acts

LEGAL PROFESSION ACT 2004 - SECT 409

409 Payments from Indemnity Fund

(1) There is payable from the Indemnity Fund in such order as the Company decides:

(a) the expenses incurred by the Company in carrying on its business, and

(b) premiums in respect of any approved insurance policy required by section 406 (Solicitor to be insured and to make contributions), and

(c) such amount as the Company determines towards meeting any difference between the indemnity provided by the approved insurance policy required by section 406 and the liability of a person insured under the policy, and

(d) such other amounts as the Company determines.

(2) The Company is required to pay from the Indemnity Fund the costs of an investigation of the Indemnity Fund, as referred to in section 414 (Investigation of Indemnity Fund), in accordance with a direction given by the Attorney General under that section.

(3) The Company may make determinations under subsection (1):

(a) that differ according to different circumstances, or

(b) that are subject to compliance with conditions imposed by the Company,

or that do both.

(4) The Company may:

(a) divide solicitors into classes approved by the Law Society Council, and

(b) under subsection (1) (c), make a different determination for each of the classes.