| (a) | acquire or form and administer a public company; or |
| (b) | together with any other person or institution, establish a scheme, underwritten by a registered insurer, |
in order to provide insurance cover, subject to the provisions of the Short Term Insurance Act, 1998 (Act No. 53 of 1998), to legal practitioners referred to in section 84(1) in respect of any claims which may arise from the professional conduct of those legal practitioners.
| (2) | The Board may enter into a contract with a company or scheme referred to in subsection (1), or any company carrying on professional indemnity insurance business, for the provision of group professional indemnity insurance to legal practitioners referred to in section 84(1) to the extent and in the manner provided in the contract. |
| (3) | The Board may enter into deeds of suretyship to the satisfaction of the Master of the High Court having jurisdiction in order to provide security on behalf of an attorney in respect of work done by that attorney as— |
| (a) | executor in the estate of a deceased person; |
| (b) | a trustee in an insolvent estate; |
| (c) | a curator to the person or property in the case of a person who is unable to manage his or her own affairs; or |
| (d) | in case of any other similar capacity, by any other person in such capacity where an attorney acts as agent for the person concerned. |
| (4) | The Board may levy premiums and fees for the provision of any insurance or security through any scheme established or public company administered by it in terms of the provisions of this Act or legislation repealed by this Act. |
