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Rules of Practice 1994 (S.R. 1994, No. 229)
|Requested: 28 Mar 2017|
|Consolidated as at: 17 Mar 2006|
77. Payment of indemnity cover
(1) A firm must pay any premium or other amount payable in respect of an approved indemnity cover within 30 days of receiving a demand from the Society for payment of that premium or amount.
(2) A demand for payment
(a) is to be in writing; and
(b) may be made up to and including 90 days in advance of any period in respect of which an indemnity cover is maintained.
(3) A certificate is evidence of the amount payable if it
(a) states the amount payable by a firm; and
(b) is signed by the Executive Director.