(1) The law society may arrange with an insurer for insurance in relation to
claims, and liabilities arising out of claims, against the fidelity fund.
(2)
Without limiting subsection (1) , the law society may arrange for insurance
relating to particular claims or particular classes of claims.
(3) The
proceeds paid under a policy of insurance against particular claims or
particular classes of claims are to be paid into the fidelity fund, and a
claimant is not entitled to have direct recourse to the proceeds or any part
of the proceeds.
(4) No liability, including liability in defamation, is
incurred by a protected person in relation to anything done or omitted to be
done in good faith for the purpose of arranging for insurance of the fidelity
fund.
(5) In this section—
"protected person" means—
(a) the law society or a council member; or
(b) a
person acting at the direction of the law society or a council member.
