The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.
SRA Handbook
Special measures
Back to version 21Version 6 of the Handbook was published on 01/01/2013. For more information, please click 'History' Above
Rule 11: Special measures
- 11.1
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An eligible firm that has applied to enter the ARP in accordance with the procedure set out in Rule 10 will be issued with an ARP policy by the ARP manager.
- 11.2
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A firm in the ARP must if and to the extent required by the Council submit to investigation and monitoring by the Society and/or its agents, including investigation and monitoring:
- (a)
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to determine the reasons why qualifying insurance outside the ARP was not obtained;
- (b)
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to ascertain what special measures should be taken by the firm.
The Society's costs and expenses of the investigation and monitoring and the Society's costs and expenses of ascertaining what special measures should be taken and of monitoring them shall be met by the firm and by any person who is a principal of that firm. The amount of such costs and expenses shall be determined by the Society which shall not be required to give any detailed breakdown thereof.
Commentary:
A copy of the standard-form ARP policy is available on the website of the SRA at www.sra.org.uk and is also available from the SRA. Contact details appear at the end of the introductory commentary.