§ Mr. McFallTo ask the Secretary of State for Scotland what proportion of the estimated expenditure on the Scottish Conveyancing and Executry Services Board for 1996–97 relates to(a) Government guarantees in respect of the compensation fund to be established by the board and (b) any provision to secure that successful claims made against a conveyancer in connection with a provision of conveyancing services are satisfied. [12081]
953W
§ Lord James Douglas-HamiltonNone of the estimated expenditure relates to Government guarantees. The Scottish Conveyancing and Executry Services Board will require to make payments to cover premiums and fees for the management of the compensation fund and the indemnity policy, with fees to the board's brokers. The brokers are still negotiating with the insurance industry and the level of these payments is not yet clear.
§ Mr. McFallTo ask the Secretary of State for Scotland what is the estimated annual subscription of practitioners under the Scottish Conveyancing and Executry Services Board to the compensation fund established by the board; and what is the estimated annual premium to be paid by(a) an independent qualified conveyancer, (b) a qualified conveyancer and (c) an executry practitioner in respect of indemnity insurance. [12082]
§ Lord James Douglas-HamiltonThe Scottish Conveyancing and Executry Services Board's brokers have entered into negotiations with the insurance industry over the compensation fund and indemnity policy. It is not yet clear, however, what the cost of the subscription and annual premium will be to individual practitioners.