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The Legal Services Act 2007 (the Chartered Institute of Patent Attorneys and the Institute of Trade Mark Attorneys) (Modification of Functions) Order 2014

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9.—(1) CIPA may make indemnification arrangements and compensation arrangements in relation to registered persons and regulated persons by—

(a)establishing and maintaining one or more funds;

(b)taking out and maintaining insurance with authorised insurers; or

(c)requiring registered persons, or registered persons of a description specified by the regulations, to take out and maintain insurance with authorised insurers.

(2) For the purpose of giving effect to sub-paragraph (1), CIPA may make regulations which authorise or require it to make particular arrangements and such regulations may, among other things, include provision—

(a)requiring registered persons, or registered persons of a description specified by the regulations, to pay amounts specified by the regulations to any fund which is maintained by virtue of sub-paragraph (1)(a);

(b)requiring registered persons, or registered persons of a description specified by the regulations, to make payments towards the premium payable on any insurance policy which is maintained by virtue of sub-paragraph (1)(b);

(c)specifying the conditions which an insurance policy must satisfy for the purposes of sub-paragraph (1)(c);

(d)as to the investment of any money that forms part of a fund which is maintained by virtue of sub-paragraph (1)(a) and otherwise as to the management, administration, insurance or protection of any such fund;

(e)as to the circumstances in which a grant or other payment may or may not be made under the compensation arrangements;

(f)as to the procedure for making and determining claims under the arrangements; and

(g)as to the minimum and maximum amounts payable in respect of any claim or claim of a description specified by the regulations.

(3) In this paragraph—

“registered person” includes a person who has been (but no longer is) a registered person;

“regulated person” includes a person who has been (but no longer is) a regulated person.

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