New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) The minimum size at which the Fidelity Fund is to be maintained in any financial year in order to be held out as a protection to clients of lawyers is the lesser of—
(a) 10% of the sum of all contributions from lawyers—
(i) received or expected to be received during that year; and
(ii) received in respect of the 4 immediately preceding financial years:
(b) $250,000.
(2) To avoid doubt, in subclause (1)(a), contributions does not include any extraordinary levies required under section 314 of the Act.