348Caps on payments from fidelity fund

348 Caps on payments from fidelity fund (1) A regulation may fix either or both of the following: (a) the maximum amounts, or the method of working out maximum amounts, that may be paid from the fidelity fund in relation to claims; (b) the maximum total amount, or the method of working out the maximum total amount, that may be paid from the fidelity fund in relation to all claims made in relation to law practices. (2) Amounts must not be paid from the fidelity fund that exceed the amounts fixed, or worked out by a method fixed, under subsection (1). Payments from fidelity fund for defaults Division 3.4.6 (3) Payments from the fidelity fund in accordance with the requirements of subsection (2) are made in full and final settlement of the claims concerned. (4) Despite subsection (2), the law society council may authorise payment of a larger amount if satisfied that it would be reasonable to authorise payment of the amount after taking into account the position of the fidelity fund and the circumstances of the particular case. (5) A proceeding cannot be brought, by way of appeal or otherwise, to require the payment of a larger amount or to require the law society council to consider payment of a larger amount.