Sch 11 para 19
(1) For the purpose of giving effect to indemnification arrangements and compensation arrangements, licensing rules may— (a) authorise or require the licensing authority to establish and maintain a fund or funds; (b) authorise or require the licensing authority to take out and maintain insurance with authorised insurers; (c) require licensed bodies or licensed bodies of any specific description to take out and maintain insurance with authorised insurers. (2) In this paragraph “ authorised insurer ” has the same meaning as in section 64.