226Levies

226 Levies

226 Levies

(1) This section applies if, at a particular time, the fidelity authority believes that the fidelity fund is not sufficient to satisfy the liabilities of the fidelity fund at or about that time.

(2) The fidelity authority may impose a levy of an amount that the authority considers reasonable on—

(a) all lawyers who are liable to pay an annual contribution to the fidelity fund for the relevant financial year; or

(b) a class of lawyers so liable that is determined by the authority.

(3) The fidelity authority may provide for different levies to be payable by different classes of lawyers.

(4) The amount of a levy is payable into the fidelity fund by a date and in a way determined by the fidelity authority.