PART 7ENACTMENTS RELATING TO SCOTLAND

CHAPTER Iprimary legislation

Solicitors (Scotland) Act 1980 (c. 46)

Meaning of “authorised insurer”223

1

Section 44 of the Solicitors (Scotland) Act 1980 (professional indemnity) is amended as follows.

2

In subsection (5), for the words “authorised insurer” to the end of paragraph (b) substitute—

  • an “authorised insurer” is—

    1. a

      a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of general liability insurance;

    2. b

      a person who has permission under Part 4 of that Act to effect or carry out contracts of insurance relating to accident, sickness, credit, suretyship, miscellaneous financial loss and legal expenses;

    3. c

      an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of general liability insurance; or

    4. d

      an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts relating to accident, sickness, credit, suretyship, miscellaneous financial loss and legal expenses;

3

After subsection (5) of section 44 insert—

6

The definition of “authorised insurer” in subsection (5) must be read with—

a

section 22 of the Financial Services and Markets Act 2000;

b

any relevant order under that section; and

c

Schedule 2 to that Act.