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PART 3Functions of ITMA

ITMA acting as an approved regulator

Interpretation

10.  In articles 11 and 12 references to ITMA are to ITMA acting in its capacity as an approved regulator (other than in its role, if any, as a licensing authority).

Management and control of ITMA-registered bodies

11.—(1) ITMA may make regulations under section 83A(2)(b) of the 1994 Act(1) (requirements as to registration of a body corporate or unincorporate and its management and control) which require each ITMA-registered body to have—

(a)a Head of Legal Practice;

(b)a Head of Finance and Administration.

(2) Regulations made by virtue of paragraph (1) must include the provisions specified in Schedule 3.

Appeals to the First-tier Tribunal and the High Court

12.—(1) ITMA may make regulations under section 83A(2)(i) of the 1994 Act which provide for appeals against decisions made by ITMA under regulations made under section 83A of the 1994 Act (including regulations providing for a decision on such an appeal to be final and for orders as to payment of costs) to be made to the First-tier Tribunal or the High Court.

(2) Regulations made by virtue of paragraph (1) may include provision for appeals against decisions made by ITMA under this Order.

(1)

Section 83A was inserted by section 184(3) of the Legal Services Act 2007.