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Rules of Practice 1994 (S.R. 1994, No. 229)
Requested:  22 Jun 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.


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