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Section 26 More about compensation arrangementsI1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Compensation rules may include such further compensation arrangements as to licensed providers for which provision is (in the approved regulator's opinion) necessary or expedient.

(2)

The Scottish Ministers may by regulations make further provision about compensation arrangements as to licensed providers, including (in particular)—

(a)

for the content of compensation rules,

(b)

in connection with a compensation fund, for functions of approved regulators and licensed providers.

(3)

In sections 24 and 25 and this section, the references to the Guarantee Fund are to the Scottish Solicitors Guarantee Fund (which is vested in the Law Society under section 43(1) of the 1980 Act).

Annotations

Commencement

I1

S. 26 in force at 1.4.2011 by S.S.I. 2011/180, art. 3, Sch.