authorised body

means:

1. a body that has been authorised by the SRA to practise as a licensed body or a recognised body; or
2. a sole practitioner's practice that has been authorised by the SRA as a recognised sole practice

practice

means the whole or such part of the private legal practice of an authorised body as is carried on from one or more offices in England and Wales; save for in the SRA Indemnity Fund Rules where it means a practice to the extent that:

1. in relation to a licensed body, it carries on regulated activities; and
2. in all other cases, it carries on private practice providing professional services as a sole solicitor or REL or as a partnership of a type referred to in Rule 6.1(d) to 6.1(f) of the SRA Indemnity Fund Rules and consisting of or including one or more solicitors and/or RELs, and shall include the business or practice carried on by a recognised body in the providing of professional services such as are provided by individuals practising in private legal practice as solicitors and/or RELs or by such individuals in partnership with RFLs, whether such practice is carried on by the recognised body alone or in partnership with one or more solicitors, RELs and/or other recognised bodies.

indemnity period

means:

1. in the SRA Indemnity Insurance Rules and the MTC, the period of one year starting on 1 September 2000, 2001 or 2002, the period of 13 calendar months starting on 1 September 2003, or the period of one year starting on 1 October in any subsequent calendar year
2. in the SRA Indemnity Fund Rules, the period of one year commencing on 1 September in any calendar year from 1987 to 2002 inclusive, the period of 13 calendar months commencing on 1 September 2003, and the period of one year commencing on 1 October in any subsequent calendar year.

qualifying insurance

means a policy that provides professional indemnity insurance cover in accordance with the MTC but only to the extent required by the MTC

participating insurer

means an authorised insurer which has entered into a participating insurer's agreement with the SRA which remains in force for the purposes of underwriting new business at the date on which the relevant contract of qualifying insurance is made

policy

means:

1. for the purposes of the SRA Financial Services (Conduct of Business) Rules 2001 the meaning given in the FCA Handbook; and
2. for the purposes of the SRA Indemnity Insurance Rules and the MTC a contract of professional indemnity insurance made between one or more persons, each of which is a participating insurer, and an authorised body

policy period

means the period of insurance in respect of which risks may attach under a policy, but excluding the extended policy period and the cessation period

extended policy period

means the period commencing at the end of the policy period and ending on the date which is the earlier to occur of:

1. the date, if any, on which the firm obtains a policy of qualifying insurance incepting on and with effect from the day immediately following the expiration of the policy period;
2. the date which is 30 days after the end of the policy period; or
3. the date on which the insured firm's practice ceases

cessation period

means the period commencing on the expiry of the extended policy period where, during the extended policy period the relevant authorised body has not ceased practice or obtained a policy of qualifying insurance incepting with effect on and from the day immediately following expiration of the policy period, and ending on the date which is the earlier to occur of:

1. the date, if any, on which the authorised body obtains a policy of qualifying insurance incepting with effect on and from the day immediately following expiration of the policy period;
2. the date which is 90 days after the commencement of the extended policy period; or
3. the date on which the insured firm's practice ceases

private legal practice

means (unless paragraph (ii) of this definition applies):

1. the provision of services in private practice as a solicitor or REL in an authorised body including, without limitation:
   1. providing such services in England, Wales or anywhere in the world in a recognised sole practice, a recognised body or a licensed body (in respect of an activity regulated by the SRA in accordance with the terms of the body's licence);
   2. the provision of such services as a secondee of the insured firm;
   3. any insured acting as a personal representative, trustee, attorney, notary, insolvency practitioner or in any other role in conjunction with a practice;
   4. the provision of such services by any employee; and
   5. the provision of such services pro bono;

   but does not include:

   1. discharging the functions of any of the following offices or appointments:
      1. judicial office;
      2. Under Sheriffs;
      3. members and clerks of such tribunals, committees, panels and boards as the Council may from time to time designate but including those subject to the Tribunals and Inquiries Act 1992, the Competition Commission, Legal Services Commission Review Panels, Legal Aid Agency Review Panels and Parole Boards;
      4. Justices' Clerks; or
      5. Superintendent Registrars and Deputy Superintendent Registrars of Births, Marriages and Deaths and Registrars of Local Crematoria
2. in the SRA Indemnity Fund Rules, means the provision of services in private practice as a solicitor or REL in an authorised body including, without limitation:
   1. providing such services in England, Wales or anywhere in the world in a recognised sole practice, a recognised body or a licensed body (in respect of an activity regulated by the SRA in accordance with the terms of the body's licence);
   2. the provision of such services as a secondee of the insured firm;
   3. any insured acting as a personal representative, trustee, attorney, notary, insolvency practitioner or in any other role in conjunction with a practice;
   4. the provision of such services by any employee; and
   5. the provision of such services pro bono;

   but does not include:

   1. discharging the functions of any of the following offices or appointments:
      1. judicial office;
      2. Under Sheriffs;
      3. members and clerks of such tribunals, committees, panels and boards as the Council may from time to time designate but including those subject to the Tribunals and Inquiries Act 1992, the Competition Commission, Legal Services Commission Review Panels, Legal Aid Agency Review Panels and Parole Boards;
      4. Justices' Clerks; or
      5. Superintendent Registrars and Deputy Superintendent Registrars of Births, Marriages and Deaths and Registrars of Local Crematoria
   2. practice to the extent that any fees or other income accruing do not accrue to the benefit of the practice carrying on such practice (except where a solicitor notary operates such notarial practice in conjunction with a solicitor's practice, whether or not the notarial fees accrue to the benefit of the solicitor's practice);
   3. practice by a solicitor or REL in the course of his or her employment with an employer other than a solicitor, REL, recognised body, licensed body or partnership such as is referred to in Rule 6.1(d) to 6.1(f) of the SRA Indemnity Fund Rules; in which connection and for the avoidance of doubt:
      1. any such solicitor or REL does not carry on private legal practice when he or she acts in the course of his or her employment for persons other than his or her employer;
      2. any such solicitor or REL does not carry on private legal practice merely because he or she uses in the course of his or her employment a style of stationery or description which appears to hold him or her out as a principal or solicitor or foreign lawyer in private legal practice; or
      3. any practice carried on by such a solicitor outside the course of his or her employment will constitute private legal practice.