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Part 2 SRegulation of licensed legal services

Chapter 1SApproved regulators

Relationship with other bodiesS

33Reporting to Law SocietyS

(1)This section applies in relation to any licensed legal services provider (whose approved regulator is not the Law Society) that is required, by compensation rules made by reference to section 25(3), to make contributions to the Guarantee Fund.

(2)The approved regulator must report to the Law Society any—

(a)breach of the regulatory scheme by the licensed provider that the approved regulator discovers as regards the procedures arising under practice rules made by reference to section 22,

(b)suspicion held by the approved regulator that there is engagement in such financial impropriety as may (in the approved regulator's opinion) give rise to the risk of a claim being made on the Guarantee Fund.

(3)The approved regulator must make available to the Law Society any report prepared by the approved regulator about an inspection carried out by it as regards compliance with—

(a)the procedures arising under practice rules made by reference to section 22,

(b)any other financial procedure as regards which the approved regulator has functions under this Part.

(4)The approved regulator must inform the Law Society of any further action that it intends to take (or has taken) in relation to any of the matters mentioned in subsections (2) and (3).

(5)In this section and section 34, the references to the Guarantee Fund are to it as defined in section 26(3).

Annotations:

Commencement Information

I1S. 33 in force at 2.7.2012 by S.S.I. 2012/152, art. 2, Sch.