Hong Kong Regulations

SOLICITORS (PROFESSIONAL INDEMNITY) RULES - RULE 16

Payment of amounts not covered by scheme

(Past version on 30/06/1997).

Amendments retroactively made - see 25 of 1998 s. 2

(1) When an amount for which Indemnity is not provided is required by the
Company or their agent for payment into court or settlement or satisfaction of
judgment on any claim, the Company or their agent shall give notice in writing
to the indemnified requiring payment of such amount and each principal in the
firm shall thereupon become severally liable to pay the same to the Company.

(2) If such amount is not paid to the Company within 14 days after service of
such notice, the Company may pay the same on behalf of the indemnified and
each principal in the firm shall thereupon become further liable to the
Company for interest on such amount from the date of payment of the same by
the Company at the same rate as allowed for a judgment debt from time to time
under section 49 of the High Court Ordinance ( Cap 4).

(25 of 1998 s. 2) (Enacted 1989)