Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Attorneys Act, 1979 (Act No. 53 of 1979)Chapter II : Fidelity Fund40. Insurance contracts for purpose of indemnifying fund |
| (1) | The board of control may in its discretion enter into a contract with any person or company carrying on fidelity insurance business in the Republic whereby the fund will be indemnified to the extent and in the manner provided in such contract against liability to pay claims under this Act. |
| (2) | A contract referred to in subsection (1) shall be entered into in respect of practitioners generally. |
| (3) |
| (a) | A claimant against the board of control shall not have— |
| (i) | any right of action against any person or company with whom a contract of indemnity has been entered into in terms of this section, in respect of such contract; or |
| (ii) | any right to any money paid by the insurer in accordance with such contract. |
| (b) | Money paid by the insurer in accordance with such contract shall be paid into the fund for appropriation by the board of control. |
