39Monitoring effectiveness of guarantee funds etc.S
(1)The Commission may monitor the effectiveness of—
(a)the Scottish Solicitors Guarantee Fund vested in the Society and controlled and managed by the Council under section 43(1) of the 1980 Act (“the Guarantee Fund”);
(b)arrangements carried into effect by the Society under section 44(2) of that Act (“the professional indemnity arrangements”);
(c)any funds or arrangements maintained by any relevant professional organisation which are for purposes analogous to those of the Guarantee Fund or the professional indemnity arrangements as respects its members.
(2)The Commission may make recommendations to the relevant professional organisation concerned about the effectiveness (including improvement) of the Guarantee Fund, the professional indemnity arrangements or any such funds or arrangements as are referred to in subsection (1)(c).
(3)The Commission may request from the relevant professional organisation such information as the Commission considers relevant to its functions under subsections (1) and (2).
(4)Where a relevant professional organisation fails to provide information requested under subsection (3), it must give reasons to the Commission in respect of that failure.