Paragraph 4
Scotland
Every application for a grant from the Guarantee Fund shall be in such form as may be prescribed by rules made under this Schedule and shall be accompanied, if so required, by the Council by a statutory declaration and the applicant shall produce to the Council such documents and other evidence as they demand.
The Council may, as a condition of making a grant out of the Guarantee Fund, require the person to whom the grant is made to assign to the Society at the expense of the Society any rights and remedies competent to him against the solicitor in question, his partner or employee F1or the F2incorporated practice authorised legal business in question or its employee or any other person in respoect of the loss.
A grant from the Guarantee Fund may at the descretion of the Council be paid in one sum or in such instalments as the Council may determine.
The amount of an individual grant from the Guarantee Fund may not exceed £1.25 million.
The Council may make rules with regard to the procedure to be followed in giving effect to the provisions of this Act relating to the Guarantee Fund, including matters to be prescribed thereunder, and also with respect to any matters incidental, ancilliary or supplemental to those provisions or concerning the administration, management or protection of the Guarantee Fund.
Annotations
Textual amendments
- F1
Words inserted by Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c. 73, SIF 76:2), s. 56, Sch. 1 Pt. I para. 34(c)
- F2
Words in Sch. 3 para. 4(2) substituted (1.7.2026 for specified purposes) by Regulation of Legal Services (Scotland) Act 2025 (asp 8), s. 103(3), sch. 1 para. 23(4); S.S.I. 2026/96, reg. 2(3)(4), sch. 2
- F3
Sch. 3 para. 4(3A) inserted (1.4.2011) by Legal Services (Scotland) Act 2010 (asp 16), ss. 130(a), 150(2); S.S.I. 2011/180, art. 3, sch.