86Caps on payment

86 Caps on payment (1) The amounts paid under section 417 of the Act for compensating claimants in relation to claims against the same legal practice, allowed under Part 3.5 of the Act for defaults to which that Part applies, must not exceed, in the aggregate, $200 000. (2) Subregulation (3) applies if: (a) there is more than one claimant against a legal practice; and (b) the aggregate of the amounts that the Committee would otherwise be required by section 417 of the Act to pay to the claimants exceeds the amount mentioned in subregulation (1). (3) The Funds Management Committee must divide the amount available under subregulation (1) among the claimants in proportion to the amounts determined under section 405 of the Act for each claimant. (4) If, at any time, the amount of the Fidelity Fund is insufficient for the payment of all amounts that the Committee would otherwise be required to pay under Part 3.5 of the Act, the Committee must divide the amount in the Fidelity Fund among the persons to whom it would be required to pay those amounts in proportion to those amounts.