325.—(1) Section 54(1) of the Courts and Legal Services Act 1990 (which amends the Solicitors Act 1974(1)) is amended as follows.
(2) In the inserted subsection (2), for paragraphs (e)(2) to (g) substitute—
“(e)a person who—
(i)has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits or to effect or carry out contracts of insurance, and
(ii)satisfies the conditions mentioned in subsection (2A);
(f)an EEA firm of the kind mentioned in paragraph 5(b) or (d) of Schedule 3 to that Act—
(i)which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) either to accept deposits or to effect or carry out contracts of insurance, and
(ii)which satisfies those conditions;”.
(3) In paragraph (h) of that inserted subsection, for “, (f) or (g)” substitute “or (f)”.
(4) After the inserted subsection (2A), insert—
“(2AB) Paragraphs (e) and (f) of subsection (2) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.
Section 54(1) inserts subsections (2), (2A), (3) and (4) into section 23 of the Solicitors Act 1974 (c. 47) from a date to be appointed.
The inserted subsection (2)(e)(i) has been amended by the Bank of England Act 1998 (c. 11), Schedule 5, paragraph 41(4).