Prospective
(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.
Commencement Information
I1S. 48 not in force at Royal Assent, see s. 103(3)