Losses outside the remit of the Fund

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Glossary terms (5)

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You are reading current version in effect from 5 July 2021

Glossary terms

SRA

means the Solicitors Regulation Authority

defaulting practitioner

has the meaning given in rule 5 of the SRA Compensation Fund Rules.

manager

means:

  1. the sole principal in a recognised sole practice;
  2. a member of a LLP;
  3. a director of a company;
  4. a partner in a partnership; or
  5. in relation to any other body, a member of its governing body
applicant

means for the purposes of the SRA Compensation Fund Rules a person applying for a grant out of the Compensation Fund.

Fund

means the fund established and maintained under rule 1.1 of the SRA Compensation Fund Rules.