Part 2Regulation of legal businesses

Introductory

38Overview of Part

(1)

This Part makes provision for category 1 regulators to authorise legal businesses to provide legal services.

(2)

(a)

defines what constitutes a legal business (and associated expressions) for the purpose of this Part, and

(b)

makes it an offence for a legal business to provide legal services without being authorised by the appropriate regulator of that business.

(3)

Section 40 makes it an offence to pretend, without reasonable excuse, to be an authorised legal business.

(4)

Sections 41 to 46 require category 1 regulators to prepare and operate rules to authorise and regulate legal businesses.

(5)

Section 47 deals with how a category 1 regulator is to monitor and investigate the performance of authorised legal businesses.

(6)

Section 48 and Part 2 of schedule 1 (which amends the 1980 Act)—

(a)

enable the Law Society to authorise (and regulate) legal businesses,

(b)

reflect that incorporated practices (within the meaning of section 34 of the 1980 Act) are to be authorised as a type of legal business.

(7)

Section 49 makes provision for where a body must change its regulatory regime by virtue of changing the manner in which it is owned.

Annotations:
Commencement Information

I1S. 38 not in force at Royal Assent, see s. 103(3)

Miscellaneous

48Law Society of Scotland

(1)

The Law Society must prepare its ALB rules in accordance with section 41 within such period (not exceeding 3 years from the date on which this section comes into force) as it may agree with the Lord President.

(2)

But the Law Society’s ALB rules are invalid unless they have the prior approval of the Lord President.

(3)

The Law Society may use its powers to make rules under the 1980 Act to make the rules necessary to comply with its duties as a category 1 regulator under this Part.

(4)

Part 2 of schedule 1 contains provision amending the 1980 Act in respect of the Law Society’s functions of authorising and regulating legal businesses.

Annotations:
Commencement Information

I11S. 48 not in force at Royal Assent, see s. 103(3)

49Entities changing regulatory regime

(1)

Subsection (2) applies where a licensed provider becomes an authorised legal business.

(2)

The licensed provider is deemed, by virtue of this subsection, to continue to be so licensed from that time until the earliest of the following events—

(a)

the end of the period of 90 days beginning with the day on which that time falls,

(b)

the time from which the relevant category 1 regulator determines this subsection is to cease to apply to the provider, or

(c)

the time when the provider ceases to be an authorised legal business.

(3)

Subsection (4) applies where an authorised legal business becomes a licensed provider.

(4)

The authorised legal business is deemed, by virtue of this subsection, to continue to be so authorised from that time until the earliest of the following events—

(a)

the end of the period of 90 days beginning with the day on which that time falls,

(b)

the time from which the approved regulator that regulates (or regulated) the licensed provider determines this subsection is to cease to apply to the authorised legal business, or

(c)

the time when the authorised legal business ceases to be a licensed provider.