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Chapter II : Fidelity Fund

 

25. Continued existence of Fidelity Fund

26. Purpose of fund

27. Fund to vest in and to be held in trust by board of control

28. Constitution of board of control

29. Period of office of members of board of control

30. Vacation of office by members of board of control

31. Chairman and vice-chairman of board of control

32. Meetings of board of control

33. Quorum

34. Decisions and chairman's casting vote

34A. Committees of board of control

35. Validity of resolution signed by all members of board of control

36. Revenue of fund

37. Banking account

38. Certificate in respect of liabilities of fund and investment of money in fund

39. Audit

40. Insurance contracts for purpose of indemnifying fund

40A. Acquisition, forming and administration of insurance company or scheme

40B. Insurance contracts for purpose of professional indemnity to practitioners

41. Possession of fidelity fund certificates by practitioners practising on own account or in partnership

42. Application for and issue of fidelity fund certificate

43. Contributions to fund by practitioners

44. Board of control may refund contributions in certain cases

45. Payments from fund

46. Board of control may make grants from fund for education or research in law

47. Limitation of liability of fund

47A. Transitional provisions relating to

48. Claims against fund: notice, proof and extension of periods for claims

49. Actions against fund

50. Subrogation

51. Claims may be charged against future revenue of fund

52. Exemption of fund from certain provisions of certain laws

53. Indemnification in respect of certain acts in good faith

54. Preservation and disposal of records and documents in possession of board of control

55.  Application of Chapter in respect of persons exercising legal professions in area of former Republic of Transkei, Bophuthatswana, Venda or Ciskei [Repealed]