Attorneys Act, 1979 (Act No. 53 of 1979) > Chapter II : Fidelity Fund > 40A. Acquisition, forming and administration of insurance company or scheme

(a)

(i)	acquire or form, and administer, a public company; or

(ii)	together with any other person or institution establish a scheme, underwritten by a registered insurer,

so as to provide insurance cover, subject to the provisions of the Insurance Act, 1943 (Act No. 27 of 1943), to practitioners in respect of claims which may proceed from the professional conduct of such practitioners;

(b)

enter into deeds of suretyship to the satisfaction of the Master of the Supreme Court so as to provide security on behalf of a practitioner in respect of work to be done by such practitioner as executor in the estate of a deceased person, or as trustee in an insolvent estate, or as curator to the person or property in the case of a person who is unable to manage his own affairs, or in any other similar capacity, or by any other person in such capacity where a practitioner acts as agent for the person concerned; and

(c)	levy premiums and fees for the provision of such insurance or security, as the case may be.

[Section 40A inserted by section 4 of Act No. 102 of 1991]