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Arrangements with the Incorporated Law Society of Northern Ireland.
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23.—(1) In this section—
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“the corresponding society” means the Incorporated Law Society of Northern Ireland,
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“corresponding certificate” means a certificate issued by the corresponding society and corresponding to a practising certificate,
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“corresponding practitioners” means persons holding corresponding certificates.
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(2) Where a scheme operated by the corresponding society requires corresponding practitioners controlled by that society to contribute to any fund or insurance policy, or to take out any insurance policy, for the compensation or indemnification of clients for or against losses due to defalcations of such practitioners or their clerks or servants, the Society may make arrangements and agreements with the corresponding society in regard to persons who are entitled both to take out practising certificates and to take out corresponding certificates, and any such arrangement or agreement may provide—
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(a) for the payment by each such person of one combined annual contribution and the manner in which the combined contribution is to be applied for the purposes of the Compensation Fund and any fund or insurance policy maintained for the purposes of the said scheme,
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(b) for the manner in which claims in respect of defalcations by any such person, or his clerk or servant, shall be treated and the extent, if any, to which those claims shall be paid by the Society and the corresponding society respectively,
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(c) for any consequential or incidental matters.
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