(1) In deciding the amount of pecuniary loss resulting from a default of a law
practice, the law society is to add interest on the amount payable (excluding
interest), unless it considers that special circumstances exist warranting—
(a) a reduction in the amount of interest; or
(b) a decision that no amount
should be paid by way of interest.
(2) The interest is to be calculated from
the date on which the claim was made to the date the law society notifies the
claimant that the claim has been allowed at the rate stated in or prescribed
under a regulation.
(3) To the extent a regulation does not provide for a
rate for subsection (2) , interest is to be calculated at the rate of 5% per
year.
(4) The interest is payable from the fidelity fund.
